Sunak warns UK to prepare for economy and public finances to ‘significantly worsen’

Rishi Sunak issued a stark warning to the public as he delivered his spring statement, urging the UK to prepare for the economy and public finances to “significantly worsen”.

The chancellor warned the cost of borrowing will continue to rise, forecasting a spend of £83 billion on debt interest, the highest on record.

“We should be prepared for the economy and public finances to worsen - potentially significantly,” Mr Sunak said.

“That’s why we will continue to weigh carefully calls for additional public spending, more borrowing is not cost or risk-free.”

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