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MNI INTERVIEW: UK Borrowing For Investment Risky - OBR's Miles

David Miles, senior OBR official and ex BOE MPC member, talks to MNI on debt sustainability.

MNI (LONDON) - It would be risky for the UK government, already on course towards unsustainable debt levels, to borrow more to fund investment, senior Office for Budget Responsibility official David Miles told MNI.

On unchanged policies and demographic trends, UK public debt will rise to 270% of GDP over the long term from around 100% today, Miles said in an interview, adding that concentrating on either increasing taxation or spending controls alone will be insufficient to curb this rise.

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MNI (LONDON) - It would be risky for the UK government, already on course towards unsustainable debt levels, to borrow more to fund investment, senior Office for Budget Responsibility official David Miles told MNI.

On unchanged policies and demographic trends, UK public debt will rise to 270% of GDP over the long term from around 100% today, Miles said in an interview, adding that concentrating on either increasing taxation or spending controls alone will be insufficient to curb this rise.

Keep reading...Show less