Then appreciate, firstly, that if the government “borrowed” a near record amount, it did no such thing. Financial institutions placed a near record amount on deposit with the government, lapping up all the bonds it had to offer in the process. There is no borrowing crisis in the UK.
Except those £600 billion of QE bonds the BoE can;t get rid of at a price that’s aceptable to them or Spud.
Good to know that when I offer to hold other people’s money in my account (and then spend it on wine, women and song) in return for some paper IOUs I’m not actually borrowing money, I’m just providing an ‘investment facility’ to them, which they should be pathetically grateful for………
I obviously fucking hate Labour but is it possible that this silly cunt – or anyone* – actually believes that Starmer and Reeves could magic up money out of thin air to pay for everything, eg Rolls-Royces for everyone, but choose not to do so because… what?
They like being so unpopular that some elements of the populace appear seriously to be thinking about removing their heads and displaying them on pikes on Westminster bridge?
*It’s even more mind-blowing when you reflect that among the everyone who seem to effectively believe this are Starmer and Reeves.
Yes, and what about all the other countries in the world? If it’s really possible to have everything for nothing, then why hasn’t anybody done it anywhere?
Well, obviously, if you never intend to pay back the capital then there is no crisis.
I do like the placed on deposit with the government bit. He can’t say ‘lent’? On deposit would imply it could be withdrawn, yes? Even “borrowed” came with scare quotes.
He’s a loon:
“It wasn’t *borrowing*, because there was a willing lender.”
:).
He probably means it. When you hand it over at gun-point, now THAT’s *borrowing*….