Britain’s national debt is nearing three trillion pounds, forcing new Chancellor John Healey into a fiscal firestorm as he prepares his first budget. Despite collecting more taxes, soaring welfare spending and record borrowing—56.7 billion this year alone—are pushing the country toward unsustainable levels. Interest payments jumped nearly 10%, and bond yields hit 20-year highs, alarming markets. Economists warn that raising taxes by 25 billion could cripple already struggling businesses, with over 53,000 at risk of collapse. Instead, they urge bold moves: reform welfare or call a general election—before the UK’s economic future unravels.
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