Responding to reports that debt has increased to over 100% of GDP for the first time since 1961, Acting Leader of the Liberal Democrats Ed Davey said:
“This news must not be used as a reason for the Government to make cuts or return the country to austerity.
“We know that borrowing is historically incredibly cheap, so it is absolutely clear that borrowing money to boost the economy is the best way to get public finances back on track.
“The Chancellor must be far more ambitious in his plans to rescue the economy. The Liberal Democrats have called for a £150bn Green recovery plan to boost the economy and create thousands of new jobs.”