I am struck that many Conservative MPs now seem to accept the basic Keynesian logic that running a deficit now in order to restart activity is worth it even though it leads to a bigger national debt that because of low interest rates it costs relatively little to service it.
This sounds awfully like the words I quoted from Ed Balls In August 2010. It is also a tacit admission that the entire austerity policy pursued by Tory politicians over the many years since 2010 was just wrong.
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