If taxes don’t fund government spending but borrowing does, can you explain what is the difference between money used to pay taxes and money borrowed? And where does the private sector find, say, £120bn as it did during one quarter of 2020? And can you show us the accounting model you use to substantiate this claim, and the MMT model which (I have to assume you have found) which rejects this?
If taxes don’t fund government spending but borrowing does, can you explain what is the difference between money used to pay taxes and money borrowed? And where does the private sector find, say, £120bn as it did during one quarter of 2020? And can you show us the accounting model you use to substantiate this claim, and the MMT model which (I have to assume you have found) which rejects this?
bravo
Why doesn’t the Labour Party argue its case from the macro economic perspective? If they don’t, who will? Ian