Just before the vote on the Fiscal Charter Chris Evans MP (who abstained) said:
“Labour should be proud that when we were last in government we ran a budget surplus for four years and achieved some of the lowest deficits both in UK history and in comparison to other economically developed nations.
There is nothing progressive about budget deficits. Every pound we spend on debt interest is one less we can spend on the NHS, on vital public services, on helping the poor and vulnerable.
Fiscal discipline allowed us to commit record funds to education and healthcare without damaging the public finances. This was the foundation of the trust people used to place in the Labour Party. We were seen as safe custodians of economy, delivering on the issues people care about.”
It seems from this, that Chris Evans is in urgent need of an economics lesson for dummies.* His statement shows dire ignorance of how the State finances and money system works.