3min chapter

New Economics Podcast cover image

Is austerity back?

New Economics Podcast

CHAPTER

Is That a Big Problem?

Government borrowing costs are actually lower than they were before the pandemic. We've borrowed more, and our debt servicing costs are less. That has huge implications for how much we can borrow. The bank of england controls the government's borrowing cost. And maybe we shouldn't be as worried about inflation as we are right now.

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