UK’s new savings plan: Your money becomes everyone’s money – Merryn Somerset Webb

UK’s new savings plan: Your money becomes everyone’s money – Merryn Somerset Webb

Merryn Somerset Webb explores how nations, like the UK, grapple with excessive debt through various means...
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In a world where debt looms large and tax revenue hits its limits, countries face tough choices. Merryn Somerset Webb explores how nations, like the UK, grapple with excessive debt through various means, from classic financial repression to redirecting private savings towards domestic goals. With looming infrastructure needs and sluggish growth, the UK's Chancellor of the Exchequer, Jeremy Hunt, proposes novel strategies like incentivizing investments in British-listed firms through Individual Savings Accounts. This signals a shift towards mobilizing private savings for political objectives reminiscent of past capital controls. As nations increasingly tap into private wealth to tackle public challenges, the line blurs between personal savings and state resources.

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By Merryn Somerset Webb

How does a country deal with having too much debt? The most desperate call the International Monetary Fund and speak very, very nicely to whomever answers the phone. Obvious. Straightforward. Quite embarrassing. But you don't have to be at the stage of having the IMF on speed dial to be in trouble — or for that matter to default on your debt. There are other ways.

___STEADY_PAYWALL___

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