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The deficit obsession damaging Britain’s economy

Time for the government to get spending

By Simon Tilford  

Chancellor Philip Hammond. Photo: Danny Lawson/PA Archive/PA Images

Opponents of increased public spending have a stranglehold on Britain’s political and public discourse. There was a brief hiatus after the financial crisis, when it was accepted that the government needed to intervene in the economy to bolster demand, but since then the deficit hawks have largely held sway unchallenged. They argue that any increase in government spending will simply push up inflation and increase already unsustainable levels of public debt and/or that a smaller state will inevitably lead to faster economic…

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