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Historic inflation surge to swell UK debt interest bill to over £200bn

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By Jack Barnett A historic inflation surge is set to swell the UK’s debt interest bill to over £200bn, top economists have warned today. Britain’s public purse is set to come under intense pressure over the next two years that may cause the government to miss their borrowing fiscal rule, according to the Institute for Fiscal Studies (IFS). The amount of money the UK pays holders of government debt will climb to over £100bn this year and next, forcing policy makers to ratchet up borrowing far above official forecasts published by the Office for Budget Responsibility (OBR) at the March budget. I…

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