They also spent it on good stuff like public services that paid back in taxes first, but also had multiplier benefits for years.They did spend, but they borrowed far less than I had always assumed, or had been led to believe. The growth of our borrowing and national debt under The Conservatives the past 14 years is absolutely terrifying, and should put paid to any idea of Tory economic competence.
That was the real tragedy of Tory austerity - they did the complete opposite, cutting spending on services that was negatively multiplied.