Source: Foundation for Economic Education
by Jake Scott
“Rachel Reeves, Britain’s Chancellor of the Exchequer, stands at the precipice of a fiscal catastrophe, with a £50 billion shortfall in public finances threatening to upend her economic strategy. The National Institute of Economic and Social Research (NIESR), a think tank co-founded by John Maynard Keynes, has issued a damning indictment of the Government’s economic strategy: a toxic brew of sluggish economic growth, a faltering jobs market, and spiraling welfare costs has plunged the government’s coffers deeper into the red. At a time when debt interest payments exceed £111 billion ($147 billion), the situation is increasingly unsustainable.” (08/15/25)