To be fair, debt-to-GDP is a silly metric of fiscal space. Moody’s reckons it’s heading to 130 per cent of GDP by 2035 (light blue dashed line) but this doesn’t get in the way of their AAA rating.

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Mum and Millie: There’s one thing the author wishes she could tell people who might “glance our way and feel a pang of sympathy”.Credit: Jacqui Turner Millie started school last month ...