Dawn chorus Thurs Nov 5
PM has $20b to use in 'acceleration' plan speech today; But it could be much more if Labour chose to go beyond Treasury's current debt peak of 56% of GDP; FYI, the IMF is begging for fiscal stimulus
TLDR: In which I argue the case for the now-all-powerful Labour Government to flick the switch on much bigger fiscal stimulus for infrastructure and social spending because borrowing costs of 0.5% are vastly below expected growth rates of 2.5% in years to come. A debt of well over 50% of GDP can easily be serviced and repaid from the existing income and…
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