Britain is doomed if Andy Burnham lurches sharply left
We risk a 1976-style crisis if the prime minister-in-waiting caves to the Labour party power brokers who are putting him in Number Ten.
UK government borrowing is out of control – we're adding more than £20bn per month to this country's national debt.
Since 2023, more than 80pc of the money the state has borrowed has been spent on debt interest – a bill that now exceeds 3.5pc of annual GDP.
This is akin to a Ponzi scheme.
Appointing trade-union fanboy Ed Miliband as Chancellor may well buy Burnham time, mollifying the massed ranks of economically-illiterate Labour MPs and party activists.
But Miliband in Number Eleven would cost Britain another £20bn-£30bn a year in debt interest – adding to an annual debt-service bill that has been consistently above £100bn since 2024 and is heading for £140bn by 2030.
And that’s if the hard-nosed, faceless institutional investors bankrolling profligate Britain don’t veto Miliband's appointment altogether – by sparking absolute chaos in the form of a payments crisis.
That would result in an IMF-style external bailout, with Britain run by unelected global technocrats, amid a crippling slump, pulverising austerity measures and a deep cost-of-living crisis – during which, of course, low-income households would suffer the most.
The economic, political and societal damage would be huge.
And it’s not just me warning of this – so are some of the world's most respected and distinguished economists, formerly holding senior leadership positions at @IMFNews, @bankofengland and @NIESRorg
My latest weekly @Telegraph "Economic Agenda" column (no paywall)
https://t.co/mKQ1xouw4r
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@skibidirizz5_@visegrad24 No. I’m pretty sure he is going to keep this one quiet and attack them completely without warning. I suspect any talk of military action is highly classified and on the down low. 👍
@MrThroop people are stupid, along with easily manipulated, institutionalised, with no critical thinking. Covid demonstrated all of the above and how easy the sheeple fall into line.
@AllisonPearson@jessphillips Iunfortunately in Police for 18 years. This will be seen by few. I can categorically tell you these girls/victims were routinely ignored if you didn’t follow how authorities thought you should behave, report crime, live your life. Still going on today.
@GaryMcleft I was thinking same. I assume there would be some form of interview to establish their status and at that point their English accent and lack of knowing any relevant foreign language would scupper thaw or dastardly plan.