The UK has accumulated £3.4 trillion in debt, and the interest payments alone now dwarf the national defence budget. Author and journalist Ross Clark argues that the nation is sleepwalking into a sovereign debt crisis that politicians refuse to acknowledge.
We discuss the brutal arithmetic of the public purse, detailing why standard political talking points - like taxing billionaires-are mathematical illusions that fail to address the core rot of uncontrolled state spending and collapsing public sector productivity.
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TIMESTAMPS:
00:00:00 - Print The Money, Get Hyperinflation
00:01:17 - Is Britain Bust Or Trading Insolvent?
00:02:57 - Whose Fault Is This?
00:07:24 - Taxing The Billionaires Buys Six Months
00:09:12 - How Bad Is The Debt Really?
00:12:07 - Perma-Stimulus
00:14:22 - No Party Has A Viable Plan
00:17:32 - What The Public Actually Thinks About Tax
00:19:21 - Three Choices On The Bond Market
00:24:02 - Where He Would Cut
00:25:33 - The Motability Scheme
00:29:03 - The Client State
00:30:06 - Austerity Never Actually Happened
00:34:21 - Productivity Is Almost Everything
00:44:32 - The Chancellor's Oldest Trick
00:46:51 - The Wealth Tax Trap
00:50:03 - The 1976 Tribute Act
00:55:59 - What Liz Truss Got Wrong
00:59:18 - How Would You Know A Crisis Had Started?
01:04:38 - What Gives Him Confidence
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – me@petermccormack.com
› Instagram – https://www.instagram.com/mccormack555/
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CONNECT WITH ROSS CLARK
› The Spectator – https://www.spectator.co.uk/writer/ross-clark/
› Substack – https://rossjonathanclark.substack.com/
SPONSORS
› IREN – https://www.iren.com/
› Ledn – https://www.ledn.io/peter
› Venice AI – https://venice.ai/ – Code PETER15
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
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FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
EDITED BY CONOR MCCORMACK
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