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Yes you could lower tax and increase spending

Firstly, governments dont borrow at all in the sense that a household does. Secondly QE had very little effect merely swapping bonds for reserves under the misguided assumption that increase reserves would encourage spending, when banks dont lend out of reserves. The Liz Truss debacle told us...

Somehow I knew you were going to say that, as if I havent heard this a million times before, If spending by "printing" money, which as I have already pointed out, is what all countries with fiat currencies do every day necessarily leads to high inflation then most developed countries would...

We are not `grappling` with a deficit - this is economic nonsense. Somehow Japan has continuously high deficits, high public debt, (around 200%) Mainstream economists predicted rising interest rates and bond yields, accelerating inflation and, inevitable government insolvency. All predictions...

The problem is many older people dont like the idea of claiming benefits because of the social stigma and because of the complications involved. Would you get rid of all universal benefits ?

Whats your evidence for this assertion?

Maybe so - tax increases or even tax cuts at the moment could be justified on equality, or health grounds. I fail to see what North Korea has to do with this discussion. The whole world doesnt have one view about what money is, nor how monetary operatons work within fiat based currency...

Yes it was on the gold standard then, but so what. Its still the law now, and hasnt changed. The BoE must make the payments when instructed to do so by Parliament irrespective of any payments made into the consolidated fund.

Indeed the government can`t run out of money but equally it can`t put as much money into the economy as it likes, without a job guarantee or taxation because of of infationary risks. The main thinking on this board seems to be the neo-liberal, household concept of goverment finances...

The government, "prints" new money every day whenever it spends. The Exchequer and Audits Department Act of 1866 gives parliament the powers to instruct the Bank of England to create new money via the consolidated fund whenvever it wants to spend. There is no connection between this and tax...

Its not "my" theory but is a well established economic school of thought which has a peer reviewed, body of work stretching back for over thirty years. taught in university economic Idepartments worldwide. I don`t remember "predicting" anything. MMT is an apolitical description of the current...

Oh no completely independent - of course. They`d soon get their marching orders in they didnt toe the line.- as i pointed out they dont have independence by the 1998 Act "The Monetary Policy Committee (MPC) is made up of nine members – the Governor, the three Deputy Governors for Monetary...

Why is that word salad? What you mean is you cant argue with me because you dont have an argument. The government does set interest rates via the Bank of England monetary committee who are agents of the government. According to The Bank of England Act 1998, the Bank of England is part of the...

Nothing like a reasoned response - oh and what is the connection with "lettuce lady economics"

I agree with the OFGEM comments but the government is not short of money because it is the monopoly supplier of the pound and can never run out, go bust. borrow its own money, throw our grandchildren to the wolves because of the interest rate , which it sets, or any of that doom laden nonsense...

I do rememberr the 70s and that resource shortage was oil. All resources are limited and that and inflation are the limits to government expenditure and not income from tax. I was answering your originaI question on how do we pay for government spending - and the answer is we dont have to. I...

Firstly, I`m not sure if there is a shortage of train drivers globally (although another poster points out problems on LNER) - train some more? Fruit pickers there seem to be (maybe pay them more?) I disagree with your definiton of inflation. A one off increase in price is not infaltion...

The money comes from key strokes on a computer not tax. Inflation results when there is a shortage of real resources. As a country we ar not in that postion. To paraphrase Keynes - "what we can do we can afford"

I`ve never said that. A nation with its own currency can spend as much as it likes but is limited only by the physical capacity of the economy in terms of real resources and inflation.

The counttry can "afford" whatever it likes. The only limits are real resources and inflation.