The watchdog said the debt is unsustainable in the long term and believes there’s a five-to-ten-year ‘window of opportunity’ to address demographic issues.
Economist Daniel Lacalle said loose fiscal policy, when coupled with restrictive monetary policy, will increase the cost of debt servicing and embed inflation.
Mr. Clouston criticised treating the UK ‘as a shop and not a home,’ and wants to halt mass immigration, re-nationalise rail, build houses, and support families.