Assuming humanity haven’t screwed the world before then
Remember, Tories account for nearly all of our debt. If the debt concerns you don’t vote Tory in the next election. Pre pandemic tories were responsible for 70-80% of National Debt.
They can just repossess Plymouth.
I do not think it is going to matter too much which Parties are in power, I think the next 30yrs are going to be tough for everyone except the very wealthy.
Public sector pensions for you
Japan has debt above 260% of GDP and still functions
It’s odious debt, we should just default. Why should I pay for someone else’s gold plated pensions and free houses when I had to pay for my own education?
It could also be 0% in 50 yrs. Be somwhere in there.
For there to be debt in Sterling, there has to be saving in Sterling. They are two sides of the same coin. Quite why people get so excited about people saving in Sterling and want to take it away I don’t know.
All we have to do is cancel the full funding rule policy that is causing the problem.
At which point the interest on the debt would be zero, since the balancing item against people saving in Sterling would just run via the Bank of England Ways and Means account.
Then whatever government pays the Bank of England, comes back to government via the Bank Dividend.
If you owned a bank outright who would you borrow from? So now ask why the government doesn’t do that. Cui Bono?
12 comments
Assuming humanity haven’t screwed the world before then
Remember, Tories account for nearly all of our debt. If the debt concerns you don’t vote Tory in the next election. Pre pandemic tories were responsible for 70-80% of National Debt.
They can just repossess Plymouth.
I do not think it is going to matter too much which Parties are in power, I think the next 30yrs are going to be tough for everyone except the very wealthy.
Public sector pensions for you
Japan has debt above 260% of GDP and still functions
Better together.
Wait which one is it https://www.thetimes.co.uk/article/uk-debt-forecast-to-hit-250-of-gdp-in-50-years-says-obr-w76r87mbf
It’s odious debt, we should just default. Why should I pay for someone else’s gold plated pensions and free houses when I had to pay for my own education?
It could also be 0% in 50 yrs. Be somwhere in there.
For there to be debt in Sterling, there has to be saving in Sterling. They are two sides of the same coin. Quite why people get so excited about people saving in Sterling and want to take it away I don’t know.
All we have to do is cancel the full funding rule policy that is causing the problem.
At which point the interest on the debt would be zero, since the balancing item against people saving in Sterling would just run via the Bank of England Ways and Means account.
Then whatever government pays the Bank of England, comes back to government via the Bank Dividend.
If you owned a bank outright who would you borrow from? So now ask why the government doesn’t do that. Cui Bono?
All very simple [when you understand how the system actually works.](https://www.ucl.ac.uk/bartlett/public-purpose/sites/bartlett_public_purpose/files/the_self-financing_state_an_institutional_analysis_of_government_expenditure_revenue_collection_and_debt_issuance_operations_in_the_united_kingdom.pdf)
I hate people.
“We don’t want public services to be cut!”
“We don’t want to pay more tax”
It’s one or the other, just fucking pick one.