2024-04-05 20:11:36
Like all government spending it is created by marking up reserve accounts at the BoE. Constraints on gvmt spending are real resources priced in £s, as currency issuer the gvmt can afford any level of pension but must consider if spending by pensioners would be inflationary. [Link][Link][Link] NEEDS_MORE_RATINGS(3-0-0) Author
2024-04-06 09:12:37
It's not misleading but 'marking up reserve accounts at the BOE' needs explanation. 'Reserves', what they are and how they work are not something people understand. NEEDS_MORE_RATINGS(0-0-0) Author