You might want to read https://www.tandfonline.com/doi/epdf/10.1080/00213624.2025.2...
Which will disabuse you of the notion that we are "high on debt". "high on savings" perhaps.
We can always afford to make things better. Afford is never the issue.
Political will to take on the vested interests is the issue.
It's not my contention really that the UK or other nation can or can't afford to do things differently, it's more that that is the constant refrain coming from mainstream politics, along with a multitude of other excuses for relative inaction.