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UK Government gilts are a true scandal in 'Benefit Britain'

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
OVER the past two years, £186.4 billion of public money has been paid to the wealthiest in society via interest on government gilts.
The article from The National discusses the UK government's handling of gilts (government bonds) and the financial implications thereof. It highlights the significant increase in the cost of servicing UK government debt due to rising interest rates, which has led to a situation where the government is paying out more in interest than it is receiving from its investments. This financial strain is described as a "true scandal" because it benefits financial institutions and investors at the expense of public funds. The piece critiques the government's economic strategy, pointing out that while the government claims to be managing the economy well, the reality is that the increased interest rates are costing taxpayers billions, with much of this money going to wealthy bondholders. The article also touches on the broader economic context, including the impact of Brexit and the government's fiscal policies, which have contributed to this financial predicament.

Read the Full The National Article at [ https://www.thenational.scot/politics/24753074.uk-government-gilts-true-scandal-benefit-britain/ ]