Britain is facing a financial crisis, with the country potentially heading towards a bailout from the International Monetary Fund (IMF). 

Economists are warning that they’re headed towards a 1970s-style debt crisis, with one saying the UK’s borrowing costs are higher than in Greece – which has the highest debt in the euro zone. 

UK Correspondent Enda Brady told Mike Hosking that financially the UK is “screwed”, and Chancellor Rachel Reeves is in significant trouble. 

He says there was a $120 billion black hole in the Government’s books last month, and an awful lot of wealthy people have left the country, concerned about high taxes. 

LISTEN ABOVE 

Britain is facing a financial crisis, with the country potentially heading towards a bailout from the International Monetary Fund (IMF).&nbsp;
Economists are warning that they’re headed towards a 1970s-style debt crisis, with one saying the UK’s borrowing costs are higher than in Greece – which has the highest debt in the euro zone.&nbsp;
UK Correspondent Enda Brady told Mike Hosking that financially the UK is “screwed”, and Chancellor Rachel Reeves is in significant trouble.&nbsp;
He says there was a $120 billion black hole in the Government’s books last month, and an awful lot of wealthy people have left the country, concerned about high taxes.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Enda Brady: UK Correspondent on the UK's finances, debt

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/eb8e1b15-5d24-4efb-b5c1-b344018483fc/transcript