A ‘bond crisis’ is upon us, apparently. Break the usual framing and the opposite emerges: borrowing costs have fallen, and the ‘crisis’ is seen for what it is - manufactured panic serving particular interests.
The gilt market is mendicant, not master. Why we must stop our devotion to an empty throne and remove this phantom veto on democracy.
Rachel Reeves’ tax hikes are sold as plugging a ‘black hole’, but the real aim may be freeing up resources for public investment, not balancing a mythical household budget
Exploring the role of taxation in the UK’s monetary system, this article examines HMRC’s enforcement powers, and the physical limits of tax collection
A critique of De Grauwe and Ji’s analysis of the UK reserve system, highlighting aspects of the UK’s fiscal framework they have overlooked