As debt soars, the cost of servicing it keeps falling
Good news for the British government’s finances
AN AWFUL LOT has changed since Rishi Sunak, the chancellor, unveiled his budget in March. Britain’s economy looks set to experience an unprecedentedly rapid and deep recession. What is more, the government, through actions such as the furlough scheme to support employment, is choosing to bear an unusually large share of the initial costs. The result will be much higher government debt than previously anticipated. And yet the actual cost of servicing that higher debt may well turn out to be lower than was expected back in March.
This article appeared in the Britain section of the print edition under the headline “Not so burdensome”
Britain May 23rd 2020
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- Britain’s palaces and stately homes are empty
- Walkers and cyclists are using the covid-19 crisis to swipe road space
- Why the NHS will not be back to normal for a very long time
- As debt soars, the cost of servicing it keeps falling
- The pandemic is dividing Britons, not uniting them
From the May 23rd 2020 edition
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