This is beyond politics because politicians (as are we all) are educated by and in the current system which is demonstrably failing. The answers do not lie within it because it is the architect of the very failure it is trying to fix.
Deficit spending only became openly possible with the dropping of the gold standard. It kept the banks and governments honest - sort of. It became necessary to drop the gold standard because governments were cheating and issuing more currency * than they had gold to back said currency.
(*Mostly to fund wars)
What we now call money is actually just currency. Each note says, 'I promise to pay the bearer on demand the sum of Ten pounds' etc. Tenpounds of what? I have a £10 note in my hand don't I? Well yes - just that, a note. It is not money. it is a promisary note, nothing more.
Remember it is called Pound Sterling because, originally, a pound note (remember them?) was representative of one pound weight of sterling silver. At todays quoted value, this would mean that £1 would have a buying power of £461, approximately. So it is that inflation robs all of us of the spending power of our hard earned savings.
Never mind left wing, right wing or whichever loudmouth self publicist of the day, protect yourself and your family. Then you may be in a position to help friends and loved ones.
This can only be done by holding tangible assests outside of the banking system.
This is not being said by some high net worth individual, but by some one who has worked since before leaving school, never been on benefits of any kind and is working still (as much as I can) in my 70's. But after much study I am sick of having the value of my earnings and life long savings robbed by officaldom and institutions in ways, that if I were to do it, I would be banged up for.
This had led me to a 15 year study of the ways of economics, banks and treasury. My conclusion is that it is all the biggest most stupendous ponzi scheme ever conceived. I have lost count of the amount of times I have found myself saying things like, 'No, they wouldn't' or 'That can't be right, I must be wrong', only to reapproach multiple times and to keep finding the same things.