UK debt 'as bad as Greece and Portugal'

clock

The UK's debt problems could be on a par with those facing Greece and Portugal, according to a former IMF economist.

Simon Johnson, former chief economist for the IMF, says the UK will face problems in the future unless it can convince markets it has its deficit under control. The Treasury says all major ratings agencies have confirmed the UK's triple A credit status. Johnson says the Greek situation is particularly bad, but worried the UK could face similar problems with spiralling debt. "I have to add the UK to this list. Unless you can persuade the markets that you're really going to bring the budget under control within the foreseeable future and you're going to have some credible actions - a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read
OBR 'deeply regrets' early release of Budget document

OBR 'deeply regrets' early release of Budget document

Mistaken release of Budget documents forced Richard Hughes' resignation

Linus Uhlig
clock 02 December 2025 • 3 min read
Starmer defends government's Autumn Budget amid controversy

Starmer defends government's Autumn Budget amid controversy

Claims Reeves ‘misled’ the cabinet about the ‘reality’ of OBR forecasts

Isabel Baxter
clock 01 December 2025 • 3 min read