UK’s rising debts ‘can be coped with’, says rightwing thinktank

Institute of Economic Affairs argues against raising taxes, saying growth and deregulation will cut borrowing

The government should not worry about its rising debt levels, according to an economic thinktank with close links to the Conservative party that was previously a champion of austerity.

In the latest sign that attitudes to public debt may be shifting, the Institute of Economic Affairs (IEA) on Monday published a paper by two economics professors saying that debt incurred during the coronavirus pandemic can be coped with" and arguing against trying to reduce it too quickly.