The Liz Truss Show Is Britain Heading for ANOTHER Financial Crisis? - The Liz Truss Show - Episode 10
Feb 6, 2026
Liam Halligan, economist and Telegraph columnist, warns about fiscal risks from soaring debt costs and market signals. Adam Brooks, pub landlord in Essex, describes rising energy bills and real costs squeezing small businesses. They discuss bond markets, energy policy, regulation, and what pressure on public finances looks like for everyday firms.
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Britain’s Economic Doom Loop
- Britain’s economy is stuck in a doom loop of weak growth, high taxes, rising debt interest and costly energy.
- Liam Halligan warns markets now doubt the UK's fiscal sustainability, raising borrowing costs and crisis risk.
Debt Interest Is Consuming Cash Flow
- Liam Halligan says monthly borrowing often runs at £10–20bn and debt interest consumes a large and rising share of cash flow.
- He notes sovereign bond yields treated the UK as an outlier last year, signalling market concern.
QT Timing Amplified Market Turmoil
- The Bank of England's timing of active quantitative tightening before the mini‑budget may have worsened market reactions.
- Halligan says that decision, alongside fiscal choices, contributed to volatility and market distrust.
