The Price

Nick Hubble | 6 June 2020  The True Cost  Dear Reader,    The British government originally intended to borrow about £55bn this year.   Due to the COVID-19 crisis, it borrowed £62.1bn in April alone.   Now, leaked treasury documents estimated that the total borrowing figure this year could be as much as £337bn.   And that’s assuming that everything goes back to normal, and there’s no second wave of closedowns. We’ll see.   You and I both know that government debt must be paid, one way or another.   Maybe more rounds of money printing, the helicopter in full swing.   Maybe it’s higher taxes, or the scrapping of the triple lock pensions, or negative interest rates…   Either way, don’t let the post-lockdown party fool you.   The debt will be paid. There will be consequences for Britain.   I believe they could look something like this. ​ Best wishes,    Nick Hubble Editor, Southbank Investment Research

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