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There’s been nothing like it, in the sense of suddenly increased spending, since the war. Borrowing’s up nearly quarter of a trillion pounds on 2019-20. The national debt is nearly 100 per cent of GDP. Taxpayers see a wealth tax as the least worst option but the Conservatives are allergic. So are businesses and the middle class going to have to pay this bill out of tightly squeezed income? If so is that fair or politically smart? And what’s the bigger picture? When the indebted world becomes even more indebted, who gets the interest?
editor and invited experts
Financial economist, author and blogger
Labour and Cooperative MP for Ealing North and Shadow Financial Secretary to the Treasury.
Co- author of Angrynomics