Writing off NHS trust debt only justifiable if correlated with high pressure areas, eg London. Otherwise an inefficient way of addressing resource constraints. Of course, it adds another 0.7% to national debt/national income ratio. This crisis is becoming expensive. #soundmoney
Which comment is, as many will detect, complete junk.
Firstly ‘#Soundmoney’ is sound just so long as government creates it – so there’s no problem there then. If government is writing it off that is absolutely inherent in its ability to create it in the first place….
In the end NHS’ supposed debt is a result of insufficient finance in the first place and as we are now realising, finance is created by government.
Debt is a control, long used by banks of course, but for the last 40 years or so governments, so often influenced by, and even made up of bankers, have used the same technique: debt gives the creditor control – specious though it always is.
The technique is to slice and dice what government itself is in charge of and then arrange the system so as to suggest that a previously unenvisioned debt to another pseudo governemtal agency means that you cannot have what you need.
That Hancock, not as a Treasury Minister, but Health Secretary, is writing off this debt, at a stroke, he has, I suggest, exposed the chirade of any debt at all.
Debt is, in short, a preferred weapon of control.