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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

UK debt must be steered off unsustainable course, warns Lords committee

Lords United Kingdom Bridges Britain
People with umbrellas walk in the rain on the Millennium Bridge in London
People with umbrellas walk in the rain on the Millennium Bridge in London. Photograph: Victoria Jones/PA

The pressing risk of the national debt becoming unsustainable will force Britain into the unenviable choice of paying higher taxes or the state doing less, a House of Lords committee has warned.

A report by peers said tough decisions and a new set of rules for the public finances were needed in order to put debt – currently just under 100% of annual national income – on a decisive downward path.

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