UK public finances on ‘unsustainable path’, says OBR The Government's independent forecaster has warned that the UK’s public finances are “on an unsustainable path” unless spending is tightened and taxes are raised. The Office for Budget Responsibility (OBR) said soaring energy prices and pressures from an ageing population risked tipping the UK into a recession. In its projections, the watchdog showed public debt rising persistently above 100% of GDP by the middle of the century and climbing further after that to reach twice the level of GDP by the mid-2060s. The OBR said bringing debt back to pre-pandemic levels, around 75% of GDP, would require finding an extra £37bn every decade for the next 50 years, raised either through tax increases or spending cuts.