Why UK is going Bankrupt? : Detailed Economic Case Study August 5, 2024 Ukadmin UK Economy </p> <h2>Why UK is going Bankrupt? : Detailed Economic Case Study</h2> <p> The United kingdom was once the symbol of power and heritage because of their 200 years of looting colonies like India!! But in spite of all the treasure hunting, now the UK is going through the worst economic and social crisis in its history!!<br /> As of 2024, while the debt level in Germany stands at 63.74% of GDP, Ireland stands at 42.5%, India stands at 58.2% where as UK debt stands at 99.5% of their GDP!!<br /> And you know what’s even more worrying, while in other countries, the workforce is getting bigger, in the UK, People are leaving the workforce due to long term sickness.<br /> At the same time, UK’s productivity has remained stagnant since the 2008 crisis!! The hospitals are falling short of nurses, And 45 percent of the patients have been waiting in an emergency for 4 long hrs!!! and there is such a big labour shortage that UK has a shortage of more than 1,00,000 truck drivers. So now, the UK is seeing the sharpest increase in the absolute poverty in 30 long years!!<br /> So the question is,<br /> How did the UK’s economy fall into such a terrible situation?<br /> What are the biggest mistakes that the UK made which caused this massive economic crisis?<br /> And lastly, what does India need to learn from the UK’s terrible situation??<br /> Credit to : Think School</p> <p>
