I don’t agree with the idea that we have to borrow money in order to have any, but the calculation in the image below demonstrates that, even within the orthodox borrow to spend framework the calculations are favourable, if we presume that everyday people are as worthy as banks themselves for government help for short term everyday help.
The fact that this has not materialised, today 17 March, does suggest that we are still in the thrall of bankers, of whom, of course our current Chancellor was yet another one.
That what is so obviously favourable for the people when a ‘democratically’ elected government fails to grant it puts in mind the battles to provide the vernacular prayer book when many in the south west failed to realise what actually should have been in their best interest.
But then of course, democratic election was not even thought of…
And today, somehow we still consider ourselves ‘democratic’.