I agree with almost everything you say but like a lot of people on the left you completely misunderstand how government finance really works. Tax is not there to pay for public expenditure it performs other functions which I have outlined at length on other threads. Realisation of this fact...
As JRG pointed out the policies he outlined and proposed in Labours 2017 manifesto were extremely popular in the country and in no way could be charactersised as extremely left wing or impossible to achieve. The mistake McDonald and Corbyns economics team made was to couch them in In a...
Why does this matter? National debt is just the historical difference between what the government spends and its tax take. Government finance is not like a households.
Because, like The Bank of Englands Mann, quoted in the article, they are economic illiterates. Unfortunately, so are the "opposition", so dont hold your breath for any sunny uplands.
Not true. Tax does not fund government expenditure as it performs other roles within the economy. The government does not have to "borrow" any money in the way a household does. The government issues bonds as part of its monetary policy not because it needs to finance its expenditure. As the...
I expect Corbyn and many others who desire world peace would agree with Swansmans argument but might make the case in a slightly less aggresive manner. I like his argumentative nature its entertaining and he writes extremely well for someone who I assume is not a native speaker. He is of course...
Yes I agree, the labour party in its constitution states that it is a democratic socialist party, in theory at any rate, but they seem neither particularly democratic or socialist at the moment which should please the original poster who maintained that the British people didnt vote for...
According to their constitution Labour is a socialist party. Perhaps starmer is in the wrong party then? Thats bit of a silly mistake to make. for someone who wants to win an election without socialist policies. Its on page one I believe.
Sorry folks cant resist - governments dont have to borrow to fund public spending and the national debt is a meaningless concept both the posters here need to learn something about how the economy really works
no I asked first - and yes i have read the report and the chakrabati report and the house of commons select committee report - you answer first then I will give a considered reply
I know this a football forum but dont try and move the goalposts by diverting my original questrion. I repeat - you claimed that the Al Jareeza report was biased and innacurate. Can you give me specific examples of this?
The UK government finances are not like a household - the government can spend as much as it likes within the actual (non-monetary) resources availalble within the country. Taxes do not fund government expenditure they perform other functions within the economy. If you disagree - please cite...