Taxpayers’ money doesn’t exist and is in the hands of the receivers

Ministers, government and mainstream media, insist on calling government money taxpayers’ money. Indeed everyone ‘knows’ it is taxpayers’ money and that is exactly why the government has to be so careful with it – because it’s not really theirs. So indeed did one Neil Mendoza, who is in charge of distributing the £1.57 billion in… Read more

Difference between PoMo and MMT may principally be just Strategy

Having contributed to a paper which may even appear on the Positive Money (PoMo) website in due course, I wonder if I may at last be able to shed further light on where Sovereign Money Reform (SMR) differs from Modern Monetary Theory (MMT), (which I’d love to rename Sustainable Government Finance – I can hope!)… Read more

Wrong framing can often just be a subtle influence…

The headline in yesterday’s Observer was ‘NHS chiefs in standoff with Treasury over emergency £10bn’. Apparently: The row piles pressure on Sunak to find more money for the NHS ahead of his summer statement on Wednesday. The article says that, according to the NHS: “There’s a very, very significant difference between the phrase ‘the NHS… Read more