Message for Lisa

“The lesson from the last election… is that people are smarter than we think.” according to Lisa Nandy.

I cannot unfortunately embed the actual snippet from the Newsnight programme – but Lisa Nandy says that Labour made promises in their latest manifesto, that they simply couldn’t keep – which is, I’m afraid.. completely untrue…

Still, her idea of involving people in the ‘solutions’ is great! But when the government creates money, there are I’d suggest, lots of people more than willing to receive the cash and do things that the government wants to spend cash on.

Although Lisa is, I think no fool, nonetheless, terribly and frighteningly, on money creation, she is, it seems, through her own ignorance, going to continue to keep us simply in the dark.

Please, please know, Lisa Nandy, that money is created out of thin air by the government!

If you want to be a real leader please acknowledge that you have that control!


  1. Andrew -

    Hear, hear, Peter. Well said. Frankly, I’m of the view that no one should be an MP without having passed an exam in how the real economy works, and the Government’s role and modus operandi (= MMT) within it.

    People forget that the UK’S debt to GDP ratio was 250% in 1945, and came down to something like 40% (though I’m open to correction on that) by 1951, precisely because Labour had learned the lesson of the 1931 austerity disaster.

    Indeed, it was Lab8 understanding of that disaster and principled opposition the policies of 1931 that enabled Labour to go from 52 seats in 1931 to 154 seats in 1935 – an Election result currently maligned as Labour’s “greatest defeat since” in assessing the 2019 result.

    1935 was a Labour triumph (and Attlee triumph, who only took over the Leadership about a month before the November 24th 1935 GE), won by principled, radical and resonant opposition – so far more like Labour’s 2017 performance.

    This article of Ann Pettifor’s sets this out well.

  2. Ian Stevenson -

    I think the national debt had fallen to 100% of GDP by 1960, and 63% when Labour left office in 1970.
    It had come down to the 40+% with Gordon Brown. (As I recall )

    Some -like Richard Murphy- claim the real figure is not c.85% but around 66% as QE money is money owed to ourselves.

  3. Peter May -

    Interesting statistics – thanks both.

Comments are closed.