Nobody wants to be in debt? To find themselves owing money? Or to end up paying back high levels of interest?

But it has been reported that Rachel Reeves is looking to adjust the government’s rules to allow her to borrow more.

So what’s the chancellor thinking? How can the government borrow more? What can it spend money on if it borrows more? If the rules are so quick to change then why doesn’t every chancellor do it? And what actually happens if the government racks up a bigger debt?

Well, take a deep breath, get your calculators out, and let the Expert Factor tell you all about it.

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