Well, the 'econimic miracle' of the 80s was largely achieved by encouraging us all to get into more debt. Individuals were sold homes that belonged to all of us - transferring ownership from the people to the banks, who then gained extra income from the mortgages.
Interest rates on borrowing were actually lower than savings interest, so everybody took out loads of credit and that spending kept the economy going round. We also used this cheap credit to fund purchases of shares in utility companies, which we owned, and they too went into the hands of banks and multinationals.
It was a good trick. It was always going to lead to house price inflation and a country full of people who own less than they owe - a bankrupt nation. The one thing that could have been altered was the concentration of ownership in so few hands, which also means the many are in debt to the few. Cameron's administration didn't cause this - but his party's values did, and nobody's done much to alter its course.
I'm at a loss to know where things are going now, though. In the past, stagnant economies have managed to kick-start themselves through borrowing. There's nothing left to borrow now, though, is there? If we all stop spending, there'll be no demand for anything (except credit, hah) so there'll be no jobs and no economy. He's a twit to even suggest this is a way forward.