Austerity Programme

Part of 2. Questions to the First Minister – in the Senedd at 2:05 pm on 14 November 2017.

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Photo of Carwyn Jones Carwyn Jones Labour 2:05, 14 November 2017

I do believe that it's hugely important that, at a time when borrowing has never been, well, not quite as cheap as it was a week or so ago—but borrowing is historically cheap—it is reasonable and responsible for Governments to borrow money in order to pump that money into the economy. He will disagree; he's a monetarist, I'm sure. I'm not; I adhere to Keynesianism and I take the view that now is the time for Government to borrow that money, inject the money into the economy, create the jobs that we need, and then, of course, create the tax receipts that will pay that loan back.