- Oct 22, 2016
Once interest rates rise, taxpayers will rebel against borrowing money to pay for foreign aid, we just won't stand for that no more. Goverment then has the chance to say, OK, we're reneging on our foreign aid commitments, but we're using the borrowing instead for x, y or z in this country. As tax payers, that will help calm us down, but it won't make us happy, no sir.We are fortunate to be in a "honey spot" of low interest. But believe me once they start rising again, and the task of rolling over the bonds gets more and more expensive, the finmin and govt will eye the debt in a different way.