A £45 Billion Budget Hole Awaits Next UK Government, Study Finds
- Bloomberg Economics says tax rises, austerity will be needed
- Conservatives and Labour are pledging to stabilize debt burden
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Britain’s next government will need to find at least £45 billion ($56.6 billion) to stabilize the national debt as the economy struggles with weak growth and high interest costs, according to Bloomberg Economics.
The projection published Wednesday underscores the scale of the challenge facing the winner of the election that Prime Minister Rishi Sunak says is likely to be held later this year.