Re: Marx would be proud
Issuing bonds isn't quite the same as printing money. Because they have to be paid back. So you're replacing one asset with another. Unless they invent special bonds with no interest or maturity - in which case they're not even printing money they're just expropriating private property. Also that asset will be matched to a hopefully profitable company - who can cover the interest. So you can argue that although government debt has gone up, so have the government's assets.
In practise I'm sure this will fall apart. Firstly because government debt doesn't work the same way as private debt - and the measure everyone uses is the debt to GDP ratio and not the governments assets. Because it's the economy that has to cover the interest payments to keep the show on the road. So in practise the price of government bonds will fall, which means that the interest rate will go up. And then how do you service this huge new debt?
However doing QE and having the bonds directly bought from government by the Bank of England is directly printing money - and they also plan to do that.