My opinion (which partially matches what the article says).
* The country chose austerity at the time of negligible interest rates. They should have used that to make infrastructure reforms.
* The austerity not only prevented infrastructure improvements, but also actively made the country less prepared for things like covid and Ukraine war shock.
* Brexit. The idiocy of this act of self-harm is becoming clear to a large fraction of the population now.
* Overspending during covid. Because we had BJ as PM during that, Covid was managed pretty badly, with significant debt accumulation that we now have repay at high rates (because a lot of this debt was created in form of inflation indexed gilts)
* Series of bad governments over last 5 years. While Cameron was pretty bad, what we had since was really terrible. May, BJ, Truss, Sunak...
* Bad housing policy. Not enough housing and allowing extensive usage of housing as an investment vehicle (i.e. promoting Buy to Let).
* The country chose austerity at the time of negligible interest rates. They should have used that to make infrastructure reforms.
* The austerity not only prevented infrastructure improvements, but also actively made the country less prepared for things like covid and Ukraine war shock.
* Brexit. The idiocy of this act of self-harm is becoming clear to a large fraction of the population now.
* Overspending during covid. Because we had BJ as PM during that, Covid was managed pretty badly, with significant debt accumulation that we now have repay at high rates (because a lot of this debt was created in form of inflation indexed gilts)
* Series of bad governments over last 5 years. While Cameron was pretty bad, what we had since was really terrible. May, BJ, Truss, Sunak...
* Bad housing policy. Not enough housing and allowing extensive usage of housing as an investment vehicle (i.e. promoting Buy to Let).