The UK Election and Some MMT Policies

Origin of Specious

UK-ballot-boxA while back I outlined some MMT-based policies I support for the UK government. Now that it’s time to vote, I thought I’d share some thoughts about which parties are closest to promoting anything remotely resembling these policies. The picture is not pretty.

1. Target Unemployment, not Debt

None of the parties are even close on this. The SNP and the Greens are the most dovish on the deficit, but Nicola Sturgeon emphasized the need to reduce the deficit during the TV debate, and the Greens’ fiscal policy, such as it is, is focused entirely on taxing the rich. That might be good for morale, but it doesn’t help working people to earn more. No major statement by any party nor any manifesto I’ve read has said anything like this: We’ll spend what is necessary and reduce taxes as necessary to achieve full employment; we won’t worry about the size of the deficit unless…

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