I’m seeing lots of variations on ‘how can the Tories criticise Labour’s borrowing plans when debt has risen by £800 billion under their watch?’. But much of the thinking here is pretty muddled. It might be helpful to start by spelling out the difference between 'borrowing', or 'deficits', and 'debt', which many still seem to … Continue reading Does the increase in public debt mean austerity failed?
Tag: government borrowing
The latest fiscal pledges from Sajid Javid and John McDonnell are similar in some respects, but very different in others. In short, both the Conservatives and Labour are planning to ramp up government spending, especially on investment, and have proposed new fiscal rules which should allow them to do so. However, Labour’s plans are much … Continue reading Why I prefer the Tories’ new fiscal rules to Labour’s