Speaking after his firm’s annual general meeting on Saturday in his home town of Omaha, Oklahoma, Buffett said the UK’s debt problems may be more severe than those faced by the US.
He told shareholders: “The [UK] deficits are huge and, if sustained over time, they have to have important consequences.
“Those consequences can start to create their own dynamic and then you are getting into the unknown. I would not want to be put in charge of tackling that debt.”
But Buffett’s business partner Charlie Munger played down the grim assessment of the UK’s finances. He said the UK is “not totally failing” and used the example of the US adopting the bailout strategies of Gordon Brown in 2008 as a sign of potential.
Munger said: “Your government might not be as bad as you might think.”