No, the UK signed up to a treaty, Maastrict, article 126 of which 'obliges' member states to avoid excessive budgetary deficits. The annexe to the treaty defines two criteria and reference values which from memory is 3% of gdp for deficit and 60% of gdp for debt.
Come up with whatever nonsense you want Galahad, it's all in the Maastricht treaty in black and white for all to read, it's not nonsense on twitter or rubbish from a leftwing head banger on a diy forum, it's written into a treaty to which the UK is a signatory.