Because government borrowing equates to private saving.
If the above facts are true and the vast majority of government debt is owed to the uk private sector, then government borrowing increases private assets (through gilts) directly.
This doesn’t mean that it directly increases the assets of individual people with debt though. In theory, with efficient money and credit markets, it should/could.
there are also macro effects of government spending directly generating income for government employees and capital spending increasing productivity (if it’s on useful stuff).
fwiw I Disagree with the contention that we shouldn’t worry about government debt. We shouldn’t worry about our current borrowing though.
Government borrowing is cheap, productivity is low and private debt is high and expensive.
It is an absolute no brainer that we (The country) should be borrowing to invest and grow.
After 10 years of unnecessary and harmful spending cuts this seems to be getting through to even the most Tory of msm