We borrow shitloads more now than we have done in the recent past. (Government debt as a percentage of GDP is about where it was at the start of the 60s ifs.org.uk/taxlab/taxlab-data-item/uk-public-sector-net-debt-1700 .) If you want to borrow more and more, you are choosing to give power to the people you want to borrow off of.
You want to take back control? Whack up taxes or spend less (or both).
I'm no expert but I think the issue is that if you want to borrow money then you have to do things that makes the bond traders think you will be able to pay it back without devaluing it.
Two ways around that would be
1) run a surplus for a few years and repay the debt. Even bringing it down would reduce the perceived risk and reduce their power
2) "print" money and don't worry about bonds (inflationary I would contend)
Not really answered my question. Have you considered a career in politics?
I am genuinely interested in what Burnham did really well in Manchester that could help the country. Mancunians all love him compared to Londoners who are at best ambivalent to Khan.
A lot of good governmenting is about spending when times are hard and repaying debt when everyone is winning, but RW govts of whatever colour tend to use those periods of not-shittery to cut (or at least leave) taxes in an attempt to retain power, because the people will complain about something regardless.
AoNZ has it more extreme than the UK even, because we have a deeper reliance on income taxes and VAT-equivalent over anything else.
Isn’t this modern monetary theory?
Yeah. Isn't it what Zak wants to do?
Point of order, I know many people (including me) who think Khan has done a great job - particularly on air quality and cycling infrastructure.
You ain't a Londoner anymore Mince. We don't have proper mayors because we don't get carried away with our own self importance.
Anywat, both Boris and Ken always seemed popular, maybe it's to do with being white.
I am, and I agree with Mince, most of us in London are positive towards Khan. The only time I have ever voted for a Labour candidate in any election was for him as mayor. The negative noise mainly comes form right wing accounts outside of London (cos racism) or those who a miffed they can't drive their stinky old diesel vans around without paying for it.
...but mostly russians.
You mean a bit like Sir Keir Alan Curbishley David Moyes Starmer?
Indeed. Yet here we are.
Point of order, both the East Midlands and South Yorkshire have elected mayors.
(a lot more recently than London, granted, so people haven't seen the full benefits yet, but still "proper mayors").
We have a mayor in the West Midlands too. General opinion is that they haven't done much obvious good or bad.
Vote Quimby!
