Why “spend before tax” is the key to unlocking a future for young people
Funding the Future
Why “spend before tax” is the key to unlocking a future for young people
In a post I published here yesterday, I explained that in a country like the UK, which issues its own currency, has an effective tax system, a fun...
 If we understand that, as a matter of fact, government spending comes before tax, we open the political space to demand secure homes, good jobs, free education, affordable childcare, and a liveable planet now, and not in some imagined future when the books “balance”.
Pie theory
Funding the Future
Pie theory
Lisa Nandy, the culture secretary, is on the morning media round. She is treating the world to a dose of pie theory. She has actually referred to t...
 Lisa Nandy, the wealth secretary, is on the morning media round. She is treating the world to a dose of pie theory. She has actually referred to the need "for a bigger pie." And pie theory has never and can never solve any known economic problem.
Starmer’s actions on Palestine were unforgivable
Funding the Future
Starmer’s actions on Palestine were unforgivable
If you listened to the news this morning, you would think that Keir Starmer has recognised Palestine. He has not. He has come nowhere near re...
 I am stunned, shocked and appalled by the continuing support Starmer is offering Israel, because that is what he really did yesterday.
The doctor’s strike is about an economic system that is on the precipice of collapse
Funding the Future
The doctor’s strike is about an economic system that is on the precipice of collapse
Wes Streeting has chosen to write for The Daily Telegraph today, condemning the doctors’ strike. Doing so, he says he will ensure that non-consul...
 The doctor's strike is about something much more than pay. It is about an economy that is in meltdown, that can no longer meet the needs of anyone but the very wealthy.
A pensions policy built on a Ponzi scheme cannot deliver security in retirement
Funding the Future
A pensions policy built on a Ponzi scheme cannot deliver security in retirement
The government announced on Monday the revival of the so-called (in its words) “landmark” Pensions Commission. It stated that this is required ...
 The government wants to force yet more people to save in stock market-based pensions that are bound to fail because changing demographics guarantee that will happen. It's time to rethink the whole nature of pensions instead.
The press release that should have been issued on today’s government borrowing figures
Funding the Future
The press release that should have been issued on today’s government borrowing figures
As the Office for National Statistics has reported this morning: Borrowing - the difference between total public sector spending and income - was...
 This is what the government should be saying about borrowing this morning.
Labour’s arguments on water nationalisation reveal their total economic incompetence
Funding the Future
Labour’s arguments on water nationalisation reveal their total economic incompetence
This exchange took place in The Commons yesterday as Clive Lewis MP asked Steve Reed MP, the Environment Secretary, about nationalisation of the wa...
 Labour's arguments on water nationalisation are wilfully ignorant, stupid or just plain straightforward misrepresentations of the truth. You take your pick. Whatever it is, they're utterly incompetent.
What would a return to the gold standard really mean?
Funding the Future
What would a return to the gold standard really mean?
Reform UK published
 Reform wants to return the UK to the gold standard to limit the money supply in this country. The result would be a disaster - and would massively increase inequality in the UK, which is, no doubt, their aim.
When will the crash happen? Soon enough for Reeves to take the blame.
Funding the Future
When will the crash happen? Soon enough for Reeves to take the blame.
I was asked yesterday by someone I met whether I believed we were facing the risk of another financial meltdown on the scale of 2008, and if so, wh...
 Could Labour survive delivering the second major crash within twenty years? I doubt it.
Will Labour enable neo-fascism?
Funding the Future
Will Labour enable neo-fascism?
Many people will have seen this opinion poll, news of which broke yesterday. There are several key points to consider here. Firstly, I am old...
 Without electoral reform, Reform might, on the basis of current opinion polls, take most seats in parliament in 2029 with about one-third of the votes. The case for proportional representation is overwhelming in that case, but will Labour deliver it?