Is a national debt crisis on the horizon for Britain? I think it is increasingly unwise to keep any meaningful savings in pound sterling within the banks in the UK. This current government will not resolve the productivity issue and will keep increasing taxes. From my very little knowledge on this subject and it is very little, I think we might be headed towards a currency collapse.
This is also a major reason why Labour seems to be trying to kill off pensioners so they don't default on pensions and why Tories or even Reform are not going fully against immigration because they want to increase the productivity age. At both ends of the spectrum they are trying to solve a financial problem with no consideration to the cultural burdens leading to another form of national collapse.
Reduce the taxes, stop double and triple taxing public, ease the corporation taxes, ditch net zero immediately and invest in nuclear to make energy cheap, offer zero corporation taxes and business rates for anyone willing to open their manufacturing firms in the UK, offload all unnecessary burdens on the state purse including but not limited to: cutbacks to the welfare system, housing and feeding illegal migrants, housing criminal immigrants in prison systems, overblown admin and managerial roles within all public institutions, non consequential foreign aid where the state does not benefit from bilateral trade of any kind.
There must be other things, as I said, my knowledge is limited on economics. But this would be a better approach to increase productivity and solve the economic crisis eventually coming our way - if we were to act on them now. Something tells me though that we won't and the public will suffer severe consequences because of it
I don’t know enough about this topic and I would like better minds to make this knowledge more relatable, and also help the country steer away from disaster.
Oh yes... There's a chance we won't get the pensions at all as it looks like.
I wish I had cash to put aside, it would be put in usd.
And wherever I keep it, it would be USA based and backed. Like Coinbase etc.