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2024-04-20 19:28:56
Taxes in a country with a fiat currency don't pay for government spending. There is no requirement to collect more tax to increase spending on public services only to have available real resources priced in that currency thus avoiding inflation. [Link]
CURRENTLY_RATED_NOT_HELPFUL(1-0-6)
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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)
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