LONDON (Reuters) – Britain’s public debt could surge to more than 300% of annual economic output by the 2070s, up from about 100% now, due to challenges such as an ageing society, climate change and geopolitical tensions, the government’s budget forecasters said.
The Office for Budget Responsibility said on Thursday those challenges already posed significant fiscal risks this decade.
The government’s plans for stabilising and then reducing debt as a share of gross domestic product were relatively modest by historical and international standards, the OBR said in an annual report on the long-term risks facing the public finances.
(Writing by William Schomberg; editing by David Milliken)
