Quote:
Originally Posted by nomadking
Labour was borrowing way back in 2002, when the economy was supposedly doing well. They also deferred borrowing by using PFI on an epic scale. If the same levels of spending had been retained we would be borrowing more and more. Unsustainable.
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And Thatcher borrowed throughout her tenure despite the windfalls of privatisation.
I agree it's not sustainable to structure the economy this way. However the choice of finding public services through taxation or scaling back the state is ideological.