1 Minute Read by Reuters Staff As a veil of pollution hangs over the London skyline, a guy wanders through Greenwich Park. Wednesday, April 3, 2014. Luke MacGregor/Luke MacGregor/Luke MacGregor/Luke MacGregor/Luke MacGregor/Luke (Reuters) – LONDON (Reuters) – As long as the government moves swiftly, the impact on Britain’s public debt mountain from measures to fulfill the country’s net carbon zero objective by 2050 could be less catastrophic than that of a coronavirus pandemic, according to the country’s fiscal watchdog. In 2050-51, according to the Office for Budget Responsibility’s early-action scenario, public sector net debt increased by 21% of GDP, or 469 billion pounds ($650 billion) in today’s figures. In a study on the risks to Britain’s public finances, the OBR observed, “That is somewhat smaller than the addition to net debt as a result of the epidemic.” It estimated that under a delayed-action scenario, debt in 2050-51 would be 23% greater than in an early-action one. (1 dollar = 0.7217 pounds) William Schomberg wrote the piece, and Michael Holden edited it./n
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