If death and taxes are certain – I think we’d all agree they are – then, before we die, we will all have to pay some tax.
In the UK we can pay it only in £ sterling (even if we offer Euros they will only get converted into £ sterling) but we cannot pay tax in £ sterling unless £ sterling exist.
It follows therefore that the government must create £ sterling before it can collect tax.
We therefore never tax and spend.
We always spend and tax.
We don’t have to borrow.
We are not dependent on banks. We create their money.
By way of explanation, a long time ago I was a ‘marketing’ manager and I was told that I was in charge of supplying the ammunition for the sales force.
I’d venture to suggest that if the politicians, or even the people campaigning on doorsteps are the salesforce, then this is the ammunition.