I agree thats an actual meaningful figure but bear in mind we have historically low interest rates as well meaning 80% of GDP in 2019 is not the same as 80% of GDP in 1990.
An economy doesnt just crash simply because public debt hits a certain %, whats more likely to be the link is that if public debt gets too high then a government may contract its spending to bring it down and that contraction that causes a negative effect on the economy rather than the % itself, and of course the increase in interest payments which some taxes go towards.
The problem I have tho is life is about a lot more than hitting debt targets, its no use hitting a target if you gutting your economy to do so, and sending millions into poverty. It is a bit like how some people think social security is a drain on the economy, something I have never understood given that people who get (means tested) social security payments are almost certainly going to spend it all in the local economy. The reason why the tories have put the biggest increase in decades on out of work benefits during their current term (whilst pretending they havent) is they will know themselves certain types of spending has a positive impact on the economy. But its a constant juggling act as so many people are incredibly resistant to paying taxes.
This country has lost track, what is the basis of our economy? we seem to be a nation of shopkeepers and bankers, we stopped building enough social homes, so now we also a nation of landlords as well, and if we talking about sorting out debt of GDP, a government needs to look at things like how much money is spent on housing benefits each year to subsidise private landlords. Thats why I considered this labour policy a joke as if you compare the housing crisis to something like giving people free broadband, it makes you realise how stupid the latter is. But sadly thats the modern world of politics, we have a two party system and both parties concentrate too much on bribes for the voters they targeting, for the tories its usually pampering to pensioners and cutting taxes for the upper classes, for Labour they often throw money at children and both parties have kind of lost the plot. Tax cut after tax cut is certainly not sustainable, its as if we trying to compete with the virgin islands. A tax cut is actually a form of spending. Even tho it may not seem so. The difference is tho when you apply a tax cut, its very hard to undo the change, as the population will be resistant to any rises, whilst its much easier to undo a budget increase. Imagine a party now trying to raise income tax up to say 25%, they wouldnt survive it. If you tried to explain its for the long term benefit of the country people just wouldnt understand.
Its going to take some kind of national disaster to correct politics. Like WW2 triggered the formation of the NHS as an example.
I think this is my last post in the thread on the politics, I know Eric moved it to chit chat but I dont want to ramble on here about politics. I will participate again if I have anything to say on the actual broadband policy itself.
