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I was making 3 points about UK govt sector deficits 1 It is a historical reality 9 years in 10 for 400 years 2. It has never been easier to achieve floating international exchange rates non convertability of pounds to gold 3. It has never been more necessary...

sorry for the types and one very important mistake if the uk private sector runs a balanced budget with its govt sector it will be driven into the RED by the external trade imbalance

and about 30% of UK GOVT debt is held by the Bank of England Now like Japan and USA the interest on this "debt" is positive income for the treasury if half of all new bond issues were purchased by the BOE the interest on all new "debt " would be fiscally neutral It all comes down to power ...