Glorianny
MaizieD
Explaining clearly that money will need to be found to overcome the Tory legacy would be popular and easy.
If that involves telling voters that their taxes are going to have to increase I can't see it being at all popular. And what a gift for the right wing press for the next 15 or so months.
Does taxation fund government spending?
Where did the money come from to save the banks?
Where did the money come from to fund furlows in lockdown?
Or the money the government wasted on useless PPE and testing?
No, taxation doesn't fund spending, government spends first and taxes it back. But that is a very heterodox view (even though empirically proven) and most voters, commentators, media and politicians believe that taxation does fund spending and associate increased government spending with increased taxation.
You know very well that I've been explaining about taxation and government spending on here for years (starting with defending the 2019 Labour manifesto IIRC). To much disbelief, occasionally bordering on abuse. It's a very hard myth to dispel.
TBH, I thought that Hunt's statement yesterday that the government would spend whatever it takes to rectify the RAAC problem was like a tacit admission that the government can 'create' however much it needs. It was stamped on pretty quickly by the Treasury, though, wasn't it? Can't have the truth getting out as it makes a mockery of all that dreadful 'austerity'.
The monies you cite came from pure money creation by the BoE. As I assume you already know 