I read once that £$many trillions lie offshore lacking the incentive to launder for a good return.
Talk of £400 billion for Covid. A lot was peed against the wall at lockdown BBQs and must represent a lot of tax income. People shopped in supermarkets and online. Most of that circulated, paying van drivers and the delivery system, never mind the VAT returns.
My question is, if you make people rich they must spend it somewhere. Make investment attractive and the flow reverses, the jobs accrue and tax and VAT income goes up. If only we had governments who realise such basic economics.
One of the things which many economic writers have missed is that the huge payouts during Covid may have knackered public finances, but there is an offset - it was a period of major reconstruction/refinancings of private sector balance sheets. This happened in both the UK and the US, and is a major reason why the steep rise in interest rates has not pitched us into the kind go economic ruin you'd expect.
There is a weird/freaky parallel: when Britain outlawed slavery in the 1830s, they paid a huge amount of compensation - not to the slaves, but to the slaver owners! Morally wrong, but that public debt allowed a rebuild of private and finacial system finances which were the foundation for the subsequent decade-long investment boom that was at the heart of that stage of the Industrial Revolution. Unexpected, and unlooked for consequences . . .
I read once that £$many trillions lie offshore lacking the incentive to launder for a good return.
Talk of £400 billion for Covid. A lot was peed against the wall at lockdown BBQs and must represent a lot of tax income. People shopped in supermarkets and online. Most of that circulated, paying van drivers and the delivery system, never mind the VAT returns.
My question is, if you make people rich they must spend it somewhere. Make investment attractive and the flow reverses, the jobs accrue and tax and VAT income goes up. If only we had governments who realise such basic economics.
One of the things which many economic writers have missed is that the huge payouts during Covid may have knackered public finances, but there is an offset - it was a period of major reconstruction/refinancings of private sector balance sheets. This happened in both the UK and the US, and is a major reason why the steep rise in interest rates has not pitched us into the kind go economic ruin you'd expect.
There is a weird/freaky parallel: when Britain outlawed slavery in the 1830s, they paid a huge amount of compensation - not to the slaves, but to the slaver owners! Morally wrong, but that public debt allowed a rebuild of private and finacial system finances which were the foundation for the subsequent decade-long investment boom that was at the heart of that stage of the Industrial Revolution. Unexpected, and unlooked for consequences . . .