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Debt being an issue is mostly a self imposed limitation / political tactic. Parties were saying exactly the same thing about debt in 2010 when debt / GDP ratio
by gghhzzgghhzz 4y ago
Debt being an issue is mostly a self imposed limitation / political tactic.
Parties were saying exactly the same thing about debt in 2010 when debt / GDP ratio was lower in order to win an election and implement austerity.
Covid Debt in the UK was all QE anyway, so is effectively money we owe to ourselves.
I do agree that Truss could have done all the things she wanted to do if she had just been smarter about presentation.
- mytailorisrich 4y agoGovernment spent massively during Covid through borrowing, that's not QE. Edit: Level of QE does not imply that the government did not take on massive debts as well. It's not one or the other.
- gghhzzgghhzz 4y agoThere's graph. QE went from 445bn before Covid to 895bn at end of 2020 https://www.bankofengland.co.uk/monetary-policy/quantitative-easing https://www.bankofengland.co.uk/monetary-policy/quantitative... EDIT: also https://neweconomics.org/2021/10/99-5-of-government-covid-debt-has-been-matched-by-so-called-bank-of-england-money-printing https://neweconomics.org/2021/10/99-5-of-government-covid-de...