It was always misleading for the Tories to compare debt to GDP to a household in their cruel austerity crusade, which didn’t even lower debt in the end. The UK can print its own currency and UK bonds are (despite 13 years of Tory incompetence) still a low risk for asset managers. Deficit spending won’t spook the markets if there’s a genuine reason such as infrastructure spending or green energy transition which will boost growth in the long term.

I’m willing to defend Labour’s caution, especially in this area, but I do hope they listen to this guy!