Bwalking along money to pay for freezing electricity bills will pile up dozens of of billions of pounds per already significant government debt Mountain: Public Sector net debt continues climb over £2 trillion.
Simon Clark, Level Up Secretary, said he thought current debt levels are “perfectly sustainable” because, in his words, the government “cannot fail respond to magnitude of moment” as energy prices continue to rise.
He told Sky News: “Well, if you look at the latest round of debt issues that were well covered were many more demand for our debt than it was necessary to cover latest auction.
“We pay about three percent for our debt. This is a very stable level. The UK is obviously a very stable, very strong economy, subject to a very clear regulatory system and rule of law. We’re a safe bet and a safe haven like we always are, to be honest in such of situations.
“Government clear that financially responsible approach underpins of our plans.
“But we can’t fail respond to magnitude of moment. Liz Truss clear that as prime minister first the priority this week is to provide that certainty, and I think it’s something that despite fact it’s hard, it’s brave, it’s brave, we have to do it because the country can’t think of anything else until we do it.”