Paul Scholes

Home | MMTUK MMTUK is an independent research organisation producing evidence-based economic analysis informed by Modern Monetary Theory. Explore our articles, education resources and community.

MMTUK has launched

We're a new, independent research organisation bringing Modern Monetary Theory to UK policy debates.

Our first paper launches later this month: a fully-costed UK Job Guarantee proposal.

mmtuk.org #MMT #UKPolitics

Let’s keep this simple:
“If taxes must be paid in the government’s currency, and citizens can’t legally create that currency, where does the money come from in the first place?”

Storms like #Ingrid are set to become more common and more intense. But experts warn the UK is not ready. Here’s Professor @hayleyjfowler.bsky.social at the National Emergency Briefing.
#NEB2025

For 50 years we have been conned into thinking that wealth created by the rich will trickle down to us, that if we strive we can become one of them and that gov’t only does the bare minimum because it needs our taxes and to borrow from the rich. Time to stop, think and question.

Once you understand that taxes do not fund public services it brings the other reasons to tax to the fore, eg to curtail unnecessary and damaging industries and activities the fruits of which accrue predominantly to the rich

It’s such a shame that evolution has yet to enable the inheritance of memories and experience. Government is there to plan and enable, it and we just need to remember that.

Parliamentary call for a televised emergency briefing For MPs and Peers to express support for briefing the nation on the threats from climate & nature breakdown to the UK’s security, food supply, health and economy.

Please ask your MP to add their name to this Parliamentary call for Government to lead a prime-time televised emergency briefing to the nation.

Experts are clear: climate and nature breakdown threaten the UK’s security, food supply, health and economy.
#NEB2025 #NationalEmergencyBriefing

This University of Toronto Professor wants Carney to answer to her students Each year, University of Toronto professor Laura Tozer updates a slide deck that she presents to her graduate students on the state of climate policy in Canada. This year, she is deleting everything.

A year ago, U of T’s Laura Tozer was adding climate policies to her lecture slides. This year, she’s deleting them, and asking Prime Minister Mark Carney to explain the rollbacks directly to her students. @cloelogan.bsky.social reports.

The People's Emergency Briefing www.crowdfunder.co.uk/p/the-people...

Abstract from The Self Financing State

"Many proposals to help fund the state pension system lack support" but in the UK you missed "government spending". The UK is a self financing state, it has its own fiat currency so needs neither taxation nor borrowing to fund itself. This from UCL:
www.tandfonline.com/doi/full/10....

Attacking councils for considering a four-day working week shows a failure of imagination from Labour.

The evidence is clear: productivity rises, people are healthier, and skills stay in local communities.

#FourDayWeek #FutureOfWork

4 Day Week Foundation | Campaign for a Four-Day Week A four-day week benefits workers, employers, the economy, our society and our environment.

If employers and employees feel it is mutually beneficial and does not jeopardise their services or products to customers/clients/users, why on earth not? Tech had been making us more efficient only we just use it to do more, let’s try an alternative, doing enough.
www.4dayweek.co.uk

YouTube video by The Hill Economist, Stephanie Kelton, Explains How Spending MORE Is The Solution To Inflation

Here you go, from about 7 mins in, it was 4 years ago when supply side inflation was in play from COVID bottle necks and other trade disruption. At other times she acknowledges risks from gov spending when the economy is reaching capacity. Bye youtu.be/U5EIq_FrzEU?...

PS forgot to ask for the 3rd time, did you watch the professor K interview you promoted?

In the UK we don’t need graphics without academic detail or “scholarship” we have University College London with the only peer reviewed research into gov finance explaining that gov spends with new £s.

I’m done but am fascinated by your paranoia, why so scared/obsessed with MMT do you have no life?

I’ve been down this road too often to waste more time but for the record: Most times the gov spends more than it taxes meaning that banks’ reserves and personal/biz accounts increase by the net spending. The gov then swaps bonds for those dollars it sent out.

These two stories are somehow connected. Apparently, if you lobby tirelessly for more pollution & ecological wreckage, that’s exactly what you get.

The Institute of Economic Affairs Banked £640,000 from Oil Giants and Murdoch The Institute of Economic Affairs (IEA) – the anti-state, anti-climate pressure group – received more than £640,000 from fossil fuel companies and Rupert Murdoch’s media conglomerate between 1957 and ...

🔴 REVEALED 🔴

The Institute of Economic Affairs – the anti-state, anti-climate pressure group that "incubated" Liz Truss – was bankrolled by oil giants and Rupert Murdoch’s media empire.

📝 Exclusive findings from @desmog.com 👇

You didn’t answer my question about the video interview with SK, did you watch/understand it?

We must be using different dictionaries to describe scholarship.

Your graphic “gov shouldn’t be run like a business” whereas, MMT says “gov doesn’t run like a business” All I did was ask you to clarify where you got your quote from.

Given your paranoia over MMT, you presumably think it should?

A business doesn’t send its bank $X before borrowing it back later.

So you didn’t quote MMT scholarship, so your original image is misleading.

MMT doesn’t say Gov should run like a business, I repeat, it says it doesn’t run like a business.

Did you watch the interview with SK from your image? If so, didn’t you understand what she was talking about?

Hi - Is the yellow text a quote from MMT literature, if so, can you give a link please?

If not, my understanding is that MMT claims our government doesn't run like a business, because it needn't, and in fact, doesn't borrow, like a business.

Hi - The gov’t has been increasing the money supply for the vast majority of the past 300+ years. Last month I put £200 of my pension into my savings account, it’s not about the quantity of money it’s about when & where & if at all, it’s spent.

It’s missing a couple of “I hope”s

And I hear the usual suspects crying “but what about China & India?” which, as usual, goes to show they haven’t read the report.

Shell is so heavily invested in the "LNG or bust" strategy we should not expect anything resembling truth out of them on the topic.

Who would have thought? Someone tell Dale Vince

The Gov’t just funded £7.5k of my new heat pump. Subject to the availability of labour and resources, there is no constraint on them funding the whole cost, Learn #MMT www.bbc.co.uk/reel/video/p...