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The UK’s public debt is on an “unsustainable” upward path because of trends such as population aging and the costs of climate change as surging public spending is projected to lead to a rise in the ratio of public debt to 274 per cent of gross domestic product over the coming 50 years.
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“In addition to the inevitability of further shocks, governments in the UK and around the world face a number of longer-term pressures that are likely to weigh on their public finances further.”
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