Yes.
Thank you for your question.
I think it is basic economics, isn't it. Government has the right to tax its citizens. In a democracy we the people accept that point. Therefore, government can borrow more cheaply than the private sector; there's no question. But in a fiscally constrained environment, this is not something, as I'm sure you're all too aware, you can push too far.
It really is a question of balancing the cost of capital against the transfer of risk. As John says, it's not a case of creating new money, it's a case of financing. When does government want to pay for infrastructure? If infrastructure has a 50-year life, a 100-year life, or whatever it is, do you want to pay for that all today, or do you want to pay for it over its 50-year life?