Will tax rises or public services be cut under debt pressures? | BBC Radio 4 Today

The government is having to spend the highest amount for 28 years to borrow money long-term. Could this be a big headache for Andy Burnham and his new team, leading to higher taxes or cuts in public services? Lord O’Neill, who has advised the PM, says the borrowing costs will force Labour to “get real” about “dealing with the triple lock” on the state pension, and “excessive” welfare spending. Former Treasury official Ruth Curtice, who is head of the Resolution Foundation think tank, explains the challenges and ex-NatWest chairman Sir Howard Davies warns the UK will “face a very dicky period” between now and October’s Budget. Listen to the Today programme on BBC Radio 4. For the latest news download the BBC News app or visit BBC.com/news #UKPolitics #Economics #BBCNews