“The national debt is enormous and will continue to grow for the foreseeable future. The scale of borrowing dwarfs that of the 2008 financial crisis and can only be compared to wartime.
“Interest payments on the debt remain relatively small for the time being, but we are counting on low interest rates and low inflation for many years to come if we are to keep our head above water.
“The priority right now is to keep businesses afloat and roll out the vaccine at lightning speed. Once this is over, the government must find a way of living within its means.”
Notes to editors
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