I don’t know what he’s referring to when he references the health of the economy, because there’s no context, nor is the full quote present. But if he’s talking about debt as a percentage of GDP, it’s over 100% now, which hasn’t been the case since World War II debt was paid down past that point in the early 1960s.
fred.stlouisfed.org/series/DEBTTLGBA188A
Reducing that ratio will probably mean spending cuts or more taxes or both. Both are already apparently happening now. At the end of last year:
cnbc.com/…/uk-finance-minister-announces-tax-hike…
UK finance minister announces tax hikes and spending cuts, says country is in recession
Finance Minister Jeremy Hunt, in his hotly anticipated inaugural Autumn Statement, outlined around £30 billion in spending cuts and £25 billion in tax hikes.
WaxedWookie@lemmy.world 11 months ago
The conservatives burn it all down, the liberals preserve the status quo - even if that’s ashen ruins.
Perish the thought of building anything - that’ll mean we can’t give tax breaks to those that need them the last.
ChaoticEntropy@feddit.uk 11 months ago
The liberals…?
palordrolap@kbin.social 11 months ago
They used lower-case L, suggesting they mean a place on the political spectrum, rather than a political party.
WaxedWookie@lemmy.world 11 months ago
The Labour Party.
This isn’t unique to the UK by any stretch of the imagination, which is why I used the broad terms.