If you borrow to invest you create an asset so the net position is zero, or possibly even positive if you do it right (developers of assets usually get an immediate uplift on cost on completion). The asset then creates a return, which is extremely likely to yield in excess of the rate of borrowing. So the net effect is positive. Simple economics.

If everyone had exactly the same amount of money and assets, the economy would be fine would it?

We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell]

Notable that the government slyly admitted yesterday that they have taken Britain from 5th largest world economy into 6th place behind France. They have Macron and we have May and her shower. I fear we may soon be slipping further behind France given anaemic growth projections and soon in 7th behind India. The government is taking us backwards and making us irrelevant on the world stage, while reducing living standards and decimating services at home.

It's a pointless question as I'm not advocating perfect equality.

Just less inequality. It's socially and economically damaging.

Less than now. That's quantifying it. Keep going until the benefits diminish.

Quote from Resolution Foundation on yesterday's budget:

On average, we expect the combined impact of policies announced from the Summer Budget 2015
onwards to leave each of the bottom five deciles as net losers. The poorest third of households will be
an average £715 a year worse off by 2022-23, while the richest third of households will be an average
of £185 a year better off.

Different household types are set to experience different impacts from changes to policy and the
economy. Looking purely at the economic forecast changes in the Autumn Budget, a low paid dual
-earning couple with children are set to be £280 a year worse off in 2022-23 from a combination of
higher inflation increasing the effect of the benefit squeeze and weaker pay growth. Accounting for all economic and policy changes from the Summer Budget 2015 onwards, some working families
face losses of as much as £4,000.

The pay downgrade feeds through into weak projections for family incomes, despite offsetting
revisions to employment levels and hours worked. Disposable income per person is now set to be
£540 lower by 2022 than previously expected, with the current fall in real incomes set to continue
and to become the longest on record. Indeed the OBR projects that the current period of falling
incomes will last 19 quarters: longer than the (deeper) 17 quarter income squeeze recorded in the
immediate aftermath of the financial crisis.

Pretty woeful

How so as according to my calculations the budget has had no effect on pensioners' incomes.