It's definitely an issue when said debt is being raised against high interest rates. The cost of debt is always going to be considerably more impactful than the amount, especially in the wake of what is looking like a recession.
The biggest question I have is despite supposed relative austerity we still have record levels of public spending so where is all the money going?
Nearly £1.1tn will be spent by the government this year. As a percentage of GDP that's 50% more than the Thatcher years and 10% more than the Blair years. During COVID, spending was beyond any value since the late 1940's.
Why is everything on its arse and where is the money going?