Our government always appears to do too little, too late. That might look like incompetence unless the real aim is to actively undermine the credibility of government. Suppose it is? Suppose those we have in power want chaos, because that’s what they see as their route to profit?
What we have in that case is not a legitimate government. Legitimate governments get their power from people by noting their best interests and arbitrating between them. That’s why we give them power. Our belief is that they will sort the chaos that might otherwise exist.
But suppose we have a government that is consciously seeking to undermine the people of the country by creating chaos to do so? And that it’s doing this solely in the interests of those in it and associated with it? The evidence very strongly suggests that is what we have.
Suppose too that there was very strong evidence that one of the primary goals of this government was to perpetuate this position of advantage for those within it and who it favours at cost to everyone else? The evidence is, again, very clear that this is what is happening.
Do we have a legitimate government in that case? And do we have a legitimate democracy if it can let this happen through an absence of appropriate checks and balances? And what if we do not have a legitimate government or democracy? What then?
I never thought I would ask these questions because I never thought I would need to. But in one sense Boris Johnson is right. His Tory party is nothing like that which preceded it. His is corrupt, populist, and focussed solely on the interests of a few people in this country.
The time to ask uncomfortable questions has, it seems, arrived.
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I am aware that many in tax justice are deeply disappointed by the OECD tax deal that’s just been signed. Their suggestion is it does not do enough for developing countries. And that’s true, it doesn’t. But let’s get real: deals like this are always compromises. 1/n
If this deal was ever going to overcome opposition - from the Republicans in the US to Ireland - and to still accommodate the claims of developing countries it was always going to be a compromise. And it is. But to claim it was a sell-out by the OECD is absurd. 2/n
There is no way this was anything like that. It delivers major firsts. There’s a global minimum tax rate, and countries can charge more. There is a first endorsement of unitary taxation. And there is also a right for one state to charge tax on profits misdeclared in another. 3/n
I was asked recently to explain the fundamental differences between the economics of the right, centre ground and left of politics. That seemed to be an invitation to do a thread, so here goes……
The big difference between the political right, centre ground and left in economic terms comes down to how they think markets work. They are either true believers, naive optimists or non-believers. That’s all you really need to remember.
The true believes are on the right wing of politics. In their opinion the only reason people exist is to function within markets. Everything else in life is secondary as far as they are concerned.
People are really worried about inflation. The right-wing media is fuelling that concern by saying government money creation is bound to lead to it increasing. And so people are also worried about interest rate rises. None of this is necessary. A thread….
First, let's deal with that money creation issue. The UK government has created about £900 billion of money in the last 12 years. No inflation in every day prices has resulted. So for those making the claim that it will do so now have to prove why things have changed.
As a matter of fact they have not. The government has had to create money because all the time money is destroyed in our economy. That's the result of the way money works. Paying tax destroys government created money. Paying back loans destroys bank created money.
Millions of people want to lend billions of pounds to the government. And the government has created hundreds of billions of new money without ever delivering inflation. In other words, this government can access all the money it needs to fund the NHS right now 1/4
No new taxes are required. No cuts are required anywhere. But despite that Rishi Sunak wants to cut funding for the #NHS. That’s despite record ever waiting lists and a Covid crisis that is rapidly getting worse. 2/4
There is a question everyone needs to ask Rishi Sunak, which is why do you want people to suffer and die this winter, wholly unnecessarily when there is no shortage of funds to treat people, and there are staff ready and available to help them? 3/4
Nick Cohen says in the Observer today ‘On the left, the list of taboos you cannot break stretches to the crack of doom. Once again, no one admits they observe them out of fear of online abuse or of malicious colleagues demanding their dismissal.’ A thread seems to be required…
What are these taboos that the left cannot acknowledge? Let’s start with the big one. It’s that we live in a democracy. We don’t. First past the post doesn’t even vaguely approximate to the democracy that we need. We should say it.
Then it has to be said that Labour are as much opposed to democracy as the Tories. Labour willingly partake in maintaining first past the post and are, alongside the Tories, enemies of democracy as a result.