Why Worry About Rising Debt?

Pryce, Vicky (2022) Why Worry About Rising Debt? Birmingham City University, Centre for Brexit Studies Blog.

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Abstract

There are numerous concerns about whether the recent rapid acceleration in inflation in recent months will put a break to the bounce-back of the world economy in 2022. In the UK the Bank of England just revised its forecast for this year to 3.75%, a sharp cut from the 5% they expected in the autumn[i]. Not only are workers being affected by a cost of living crisis, mainly as a result of higher world energy costs, but higher interest rates will also act as a dampener to growth. However there is extra dimension that will hang over any recovery, possibly limiting its growth – namely the level of accumulated debt, both public and private during the pandemic which may well prove even more of a challenge than the disruption caused by what is now the highest rate of inflation in 30 years.

Item Type:	Other
Dates:	Date Event 14 February 2022 Published Online
Uncontrolled Keywords:	Centre for Brexit Studies, CBS, Brexit, BCU, EU, European Union, UK, Birmingham City University, UK Government, UK politics
Subjects:	CAH15 - social sciences > CAH15-03 - politics > CAH15-03-01 - politics
Divisions:	Research, Innovation, Enterprise > Centre for Brexit Studies
Depositing User:	Alex De Ruyter
Date Deposited:	01 Mar 2022 17:48
Last Modified:	01 Mar 2022 17:48
URI:	https://www.open-access.bcu.ac.uk/id/eprint/12913

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