Now to the definitive way one of the respondents lectured me on funding for NHS, This erudite Gran scolded me for saying we pay the NHS through taxation.
I had read that in more than one place. So here is what Full Fact link which must have lead me astray.
You will read it just about everywhere you care to look, Anniel but that doesn't make it true.
I prefer to make a judgement on the results of empirical academic research (i.e people who have the expertise to closely examine what actually happens in regard to government financing) Much as I respect Full Fact they are only, in this instance, repeating an economic myth.
Try this, instead:
These guys have exhaustively researched the subject. Their conclusion
This paper constitutes a first detailed institutional analysis of the UK Government’s expenditure, revenue collection and debt issuance processes. We find, first, that the UK Government creates new money and purchasing power when it undertakes expenditure, rather than spending being financed by taxation from, or debt issuance to, the private sector.
*The analysis is based on* an extensive review of current and historical primary legislation, official publications from public authorities including HM Treasury, the Debt Management Office, Her Majesty’s Revenue & Customs (HMRC), the Bank of England (BoE) and other relevant institutions, additional pertinent literature describing the historical evolution of the system, and requests made to the above-mentioned departments under the Freedom of Information (FoI) Act 2000 (Berkeley et al. 2021).2
Who can argue with that?
www.ucl.ac.uk/bartlett/public-purpose/sites/bartlett_public_purpose/files/the_self-financing_state_an_institutional_analysis_of_government_expenditure_revenue_collection_and_debt_issuance_operations_in_the_united_kingdom.pdf
It would be helpful if more people took note..
I think the erudite member was Maddie No, it was me... 