“Impossible” for Treasury To Measure Borrowing’s Value for Money

The Public Accounts Committee has published a new report into government borrowing this morning which doesn’t paint a rosy picture. The report slams the Treasury for its inability to measure whether borrowing, which has pushed net debt to 97% of GDP, has value for money:

“The Treasury recognises that there is no single quantitative metric to measure its performance and instead relies on more qualitative measures, such as monitoring market demand.