Interesting article in tomorrow's paper,
https://www.telegraph.co.uk/gift/88dfe6f4cb0e1c68
"Prof Jagjit Chadha, who recently stepped down as the head of the National Institute for Economic and Social Research, claimed the economy was at risk of “collapse”.
He said the financial situation was “as perilous the period leading up to the IMF loan of 1976”, when Britain had to be bailed out by the global banking body.
He told the When the Facts Change Substack, written by the Telegraph columnist Liam Halligan: “I’m in a world in which I could imagine it [an IMF bailout] happening, and we’ll be bereft in that case.
“We will not be able to roll over debt, we will not be able to meet pensions payments, benefits will be hard to pay out.”
That's the most dire assessment of the shape of things that I've read so far. I don't think most people have a read on the damage that has been done over the last year but unless Reeves can do something quite exceptional- beyond additional taxation and stalling the economy further, the sum of poor policy decisions will bite hard.