Comment on Labour MP claims it'd cost "Upwards of £100bn to Nationalise Water". He is an extremely smart man. Why does he lie like this?

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manualoverride@lemmy.world ⁨4⁩ ⁨days⁩ ago

The investments I was referring to was gilts, which is how the government borrows money from foreign countries and private investors.

We do absolutely need foreign investment as our national debt is currently £2.7 trillion (about £40k per person)

If governments start selling that debt, then higher interest rates will be demanded for new gilts by those willing to still buy them.

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