Transcripts for BBCNEWS Dateline London 20210913 02:44:00 :

BBCNEWS Dateline London September 13, 2021 02:44:00

i would say, who would say that actually this is a false . debate, the rishi sunak position that we have to keep public debt within 100%, - which is the highest, as mina pointed out, for many decades, that actually, the reality is i we have got our own currency, we can print as much money. as we like and the bank- of england is actually tacitly funding the uk government, so this is a false choice, - that is one point of view which is quite prevalent| at the moment. the treasury would say that's not the case, - and you have to pretend you've for a plan for public _ finances just to keep i international investors, who by the way, lend the uk government this money, - you've got to keep them believing that you still . believe in fiscal rectitude and cutting your cloth - according to your means. that c word again, confidence... i think the danger is, today we have just had figures showing that growth is practically flatlining. the danger is that by tightening the belt now, by the treasury winning out in his argument and cutting most of the spending in most departments, you do great harm to the economy. it's exactly what george osborne did after the

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