According to an article by Frost, the unelected bureaucrat who was Johnson’s sidekick during the Brexit negotiations, Britain is headed inexorably towards bankruptcy.
The man has some brass neck given his role in achieving the hard Brexit we are now suffering under. He, of course, wants to blame a government that has only been in power for 6 months rather than considering the £40 billion a year lost tax revenue that his beloved Brexit has cost us.
The prospect of bankruptcy should come as no surprise to older supporters. In the 1970s, before the benefits of EU membership were realised, the UK was facing bankruptcy. In 1976, with inflation at 25 percent and a plunging GB Pound and running out of foreign exchange, the government was forced to obtain an IMF bailout to stave off catastrophe. Grinding austerity followed under the terms of the loan, unemployment rocketed and then a wave of strikes culminating in the 1979 winter of discontent. By 1980, there was civil unrest things had become so bad.
We were saved by North Sea oil revenues and membership of the single European market. They won’t be there this time.
See link to article about life in 1970s Britain in comments- last time the country was bankrupt