#216 - Ross Clark - Britain is Bust & The Coming Sovereign Debt Crisis

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. \- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 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 \- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - CONTACT PETE › Website – http://petermccormack.com › Feedback – https://www.petermccormack.com/contact › Email – [me@petermccormack.com](mailto:me@petermccormack.com) › Instagram – https://www.instagram.com/mccormack555/ › X/Twitter – https://x.com/petermccormack/ 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 \- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube\_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 \- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - * * * Hosted on Acast. See acast.com/privacy for more information.