Britain risks ‘explosion’ in national debt

It comes as the UK spends significant sums on debt interest. The Chancellor has already borrowed £116.8bn this financial year to plug the gap between tax receipts and public spending.Official data published last week added to the gloom, showing the economy shrank by 0.1pc in October after a similar fall in September and no growth in August.State-employed workers saw their pay rise by 7.6pc last year - almost double the 3.9pc increase in the private sector.Despite rising unemployment, public sector wage grow ...