1. YES. We don’t really have a choice. We don’t have the money to do all we need to do.
2. ALL countries borrow.
The question that should obsess you is not “Must we borrow” but instead “What are we borrowing for, & under what conditions?”
Those are the questions. Not “Must we borrow?”
Debt is inevitable. What makes the difference is the capacity to repay it as and when due.
I would argue with more emphasis on Revenue actually. The bigger constraint in my view is our Revenues.