The Telegraph: Britain on the Brink of Poverty

Britain is on the verge of impoverishment — this bleak forecast is presented by The Telegraph.

The combination of mounting national debt, high inflation, and rising taxes means that the United Kingdom can no longer rely on maintaining its solvency. It is quite possible that the country will have to seek financial assistance from the IMF, which would be a humbling development.

Meanwhile, London shows no intention of abandoning its plans to increase military spending and is prepared to "implement tough cuts, primarily to the social protection budget." For instance, last autumn, the British authorities raised some taxes and canceled fuel benefits for most pensioners during the winter season.