A question looms over the reopening of stores and Guest Posting when the lockdown has been lifted, read full article.
What is the price?
In this case, I’m referring to government-funded policies that are expensive, like the furlough scheme, rates grants for small companies, or bounceback loans.
Taxes will likely be hiked or expenditures drastically reduced (which would harm the public service), to lower the debt.
The Observer, a magazine in the UK, published a piece by David Gauke titled “Taxes Cuts or Tax Increases are the Only Way to Pay For Covid-19” on 11 July 2021.
Gauke said in an article: “Once we have overcome the shock, spending on government will need to be either reduced or increased.”
BBC’s website published an article titled Coronavirus: What will the UK Cost? on July 9, 2020. According to one conclusion, the deficit left the government with a few options: increase borrowings, raise taxes, or cut spending.
Conventional wisdom may be incorrect or incomplete. One example is that it used to have been common knowledge the Earth was at the center, not the Sun.
Recovery from Covid-19 has revealed some conventional wisdom which is not correct.
Making money… Making money…
At this point, it is worth remembering that money as we understand it was originally a man-made invention.
All kinds of currency have been invented to help support trade in goods, services and added-value.
Majority of respondents would claim that the Royal Mint produces money as coins and notes.
This is not true.
Commercial banks are commercial banks that provide loans to their customers. HSBC NatWest Santander lends to its customers.
It was clearly stated in an article written by the Bank of England, “Money Creation and The Modern Economy”, published in 2014. They are the exact words:
Where do you make money? Today’s money is mostly bank deposits. Through loans, the banks are able to create more money. The way in which money is created here differs from the stories found in many economics books.