The news in tweets: Friday, July 7, 2023

Is this Keir Starmer’s fastest u-turn yet?

Starmer’s relaxed attitude to keeping promises has been exposed so many times that even mainstream news shows are catching on:

Tory claim about consistent investment in the NHS is a myth

Is Tony Blair’s idea for people to ‘queue jump’ NHS waiting lists by going private merely giving rich people faster access to public services?

Is that a good point?

I think it is – as those providing private health services are very often also working for the NHS.

Getting people to pay for their services encourages them to spend more time on their private practices than on NHS work, thereby disadvantaging the poor. Right?

The UK is NOT ‘running out of money’, no matter what is said on Sky News

Malcolm Reavell is more or less right. The UK government does borrow money from the Bank of England, but as the Bank is wholly owned by the UK government, it is literally borrowing from itself.

This act, in fact, creates money – meaning the UK cannot run out of it. The trouble is that the act of putting more money into the economy is inflationary (or can be). The answer to that, of course, is to set taxation at a level that negates the inflation caused by pumping in the money.

The logical way to balance this taxation would be by weighting it strongly towards the richest people in society; they benefit the most from the UK economy as it currently works. Also, for the economy to work at all, more of the money being pumped in needs to go into the hands of the people with the least, who will have to spend it on goods and services, simply to make ends meet.

That money then travels further – thereby adding more value to the economy – than if it was given to the rich in the first place.

Here’s why teachers are right to demand more pay – and why the ‘inflation’ argument against them is wrong

How would Labour stop profiteering banks? By having a quiet word with them. Will that work?

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1 thought on “The news in tweets: Friday, July 7, 2023

  1. Dave Rowlands

    When they can find money to give to their mates so there is a profit in it, when they can magically find billions to fund a war that could have been prevented if it wasn’t for what’s his name, when they don’t want to pursue a 44 Billion pound fraud, I could go on and on but won’t, then there is no shortage of it, money, your money, it’s never theirs is it?

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