Casdon
Why, what purpose would that serve? It’s a fact that we are deeper in debt than we have been since the early 1960s, what we need now is a robust plan to improve our position, not endless post-mortems.
The government isn't after reducing the 'debt'. It would be impossible to do that because they cannot unilaterally 'repay' everyone who has savings and investments with them. i.e government bond holders, premium bond holders and people with NSI savings accounts. The govt. can only 'repay' these people if they actually ask for their money to be returned to them. Which very few are going to do because their money is safer 'invested' in govt. bonds & savings vehicles than anywhere else as the govt will never default. It will always pay the agreed interest or the principle if repayment is requested. British governments have had 'debt' for centuries. It hasn't been a problem so long as the debt can be serviced. Which it can be as tge govt creates the money with which to service it.
What the govt. wants to do is to, quite unnecessarily, to reduce the 'deficit', which is the difference between incoming revenue and govt. spending. Unfortunately, taking money out of the economy by cutting spending will make our current situation much worse.
