The other ludicrous thing about PFI is that the UK government can always borrow at a cheaper rate than the private sector. With PFI, the government was forcing the private sector to borrow at market … (View Post)

The great irony of course was that in reality government bond rates were (at the time) on a one-way track to 0% and the government could have borrowed far more & the markets would have happily gi… (View Post)

Brown also kept us out of the €. The direct effects of the 2008 crash would have been much, much worse without the ability of the BoE to prop up the economy with QE. (View Post)

NB. Today’s Tom Gauld cartoon, whilst universally applicable, did bring to mind some past PB conversations! (View Post)

New Thread! (View Post)