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Except, of course, you haven't. That's not how sovereign currencies work. Especially Sterling. There is no direct connection between UK government spending (Su
by neilwilson 3y ago
Except, of course, you haven't. That's not how sovereign currencies work. Especially Sterling.
There is no direct connection between UK government spending (Supply) and taxation (Ways and Means). They are completely separate asynchronous processes from start to finish.
[1]: https://gimms.org.uk/2021/02/21/an-accounting-model-of-the-uk-exchequer/ https://gimms.org.uk/2021/02/21/an-accounting-model-of-the-u...