Re: up to a 20 per cent pay cut overnight... For many, the cost of their current mortgage
" it does seem odd to borrow money so that you can give it away."
The economics of running a country is almost opposite to the way you would run your own life, a business etc.
For a start, countries are, in effect, immortal. They borrow money to invest in common/public goods (infrastructure, education, emergency services etc) that result in increased tax revenues.
This is also behind foreign aid. Improving another country means they are going to buy more of your stuff, or are not going to collapse. The cost of a failed state is HUGE.
Often the same people bitching about refugees and people fleeing failed states are also bitching about the money spent to try and avoid other places falling into the same pattern.
If you live in one of the best countries in the world, then either accept that everyone else is going to want to live there unless you also help them make their country better. Doesn't have to be as good, just being able to meet your basic needs (food, shelter, clothing, security) and some opportunity.
In practical terms, debt and spending are almost opposite in effect when the government does it.