Winston Marshall

We’re Heading for a Financial Crisis - Liam Halligan

In this episode, economist Liam Halligan warns that the UK is on a path toward a financial crisis, driven by soaring debt‑interest payments, record‑high gilt yields and a tax burden at its highest level since 1948. He explains how the Bank of England’s rate cuts are ineffective when markets view Britain as an inflation and credit‑cost outlier, and he traces the fiscal deterioration from the post‑2008 austerity era through successive Labour and Conservative governments. Halligan criticises the political elite’s lack of economic literacy and the persistent reliance on borrowing, arguing that without a shift in spending policy the UK could face a market‑driven solvency shock similar to past crises in the 1970s and Eurozone.