Interesting comments by Bank of England Governor Andrew Bailey in the Telegraph today ... 👀
Remember when @jeremycorbyn said "austerity is a political choice, not an economic necessity"? Well, it was true then and it's true now ... 🧵
Remember when @jeremycorbyn said "austerity is a political choice, not an economic necessity"? Well, it was true then and it's true now ... 🧵
🏦Bailey says, "We can help to spread over time the cost of this thing to society and that to me is important. We have choices there and we need to exercise those choices"
But it's not just the Bank of England converting to anti-austerity economics ...
The IoD's Chief Economist argues, "The best way to address the public debt burden is actually by boosting growth and productivity. For now, the Treasury can tap low interest rates to help fund this"
The IoD's Chief Economist argues, "The best way to address the public debt burden is actually by boosting growth and productivity. For now, the Treasury can tap low interest rates to help fund this"
In other words, a very Keynesian: 'borrow to invest, invest to grow'
🪦Austerity RIP🪦 ?
Not without a fight!
🪦Austerity RIP🪦 ?
Not without a fight!
