First, the country has not got more than £2 trillion in debt. The government has bought back around £800 billion of its own debt. Quantitative easing has cancelled that debt. In eleven years not a single penny’s worth of the repurchased debt has been sold back to the financial markets.
So, just like a paid off mortgage has been cancelled, so has this government debt been cancelled. In that case, I am not sure why you want me to explain how to repay government debt that has already been repaid? Your question doesn’t make sense unless you’re asking me how we would repay the debt twice, and I’m not sure why you would want us to do that.
Second, you say that government debt must be repaid, but the fact is that people are still queueing up to buy government debt. So, you need to explain to me why it is that the government wants to repay debt that people are desperate to buy? I am not sure I understand the reason for that.
No bugger would buy the debt so the BoE had to buy £800 billion. Therefore people are lining up to buy he debt that no bugger would buy?