This partly reflects a global shift upwards as investors become more jittery about increases in public debt worldwide. This is all the more remarkable because UK public debt is not particularly high by international standards. This does not mean that a full-blown debt crisis is imminent in the UK, or even inevitable. Admittedly, an increasing number of commentators are warning of a “1970s-style debt crisis” unless the chancellor changes course. Averting a debt crisis: try the stop-gaps firstFinally, there are other things the authorities might try before calling in the IMF.