Britain’s Fiscal Box Gets Tighter

U.K. debt has climbed to about 95% of GDP while taxes are headed to a historic 38% of GDP. Pension and disability‑linked benefits are politically hard to cut, and Labour already reversed planned trims, even as long‑dated gilt yields outpace other rich countries. Growth alone won’t close the gap; a primary surplus under 0.5% of GDP still looks politically elusive. — It spotlights how an advanced welfare state can hit market and political limits simultaneously, informing debates on consolidation, entitlement design, and growth strategy.