The bank will be watching the increased level of borrowing with care. It may note the criticism of some Tory MPs that Ms Truss appears to be behaving like the late US President Ronald Reagan, who ran up a massive pile of debt to finance his tax cuts in the 1980s. The difference was that the US dollar is, unlike the pound, the global reserve currency, which means the US would be much less likely to ever have a problem finding buyers for its debt.
