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  474.  @jenniferhunter4074  I do yes. Countries don’t retire so having constant debt isn’t a problem. But that doesn’t mean you can just print money infinitely as it needs a level of intrinsic worth (subjectively decided by “markets” opinion since the gold standard was dropped hence the volatility (I liked the monkey comparison as it fits the market well)). The strength of the pound has been slowly eroded by many things and our ability to repay debt compromised by the Years of austerity which have reduced spend a little, but reduced the tax receipts more. This was something George Osborne couldn’t quite get his head around. We had a AAA credit rating as a country under Labour which allowed us to take cheap debt, now we don’t. So the cost of borrowing (the amount required to service the debt is increasing). Countries have issues when they can’t service debt like the near collapse of Greece, this is why policy needs to be funded. The issue with the Truss mini budget was she hadn’t worked out how to service the debt accrued from the tax cuts. The debt itself was not a significant issue per se. She was just reckless and feckless amd impulsive and without a brain in her body. If Labour want to increase spending, they need to identify how it’s being paid for, either through taxation or borrowing, and if borrowing how they will service that debt. That was the point of the comment. I doubt they are idiots and are taking advice for some of the more sensible economists like Mariana Mazzucato, so hopefully we can get a bit more sensible spending. Honestly I can’t see a way of Labour doing anything without increasing borrowing, but the challenge comes on how to service the debt. The types of things Labour want to do won’t pay off overnight. Currently they haven’t put out too much and keep changing policies (in response to the Sunak governments “direction”), so it’s impossible to know if they have a good plan, or what it will look like before the next election. Tory’s have little understanding of anything past there own self interest.
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