Birdwatch Note Rating
2024-03-15 06:43:16 UTC - HELPFUL
Rated by Participant: 1B4FDDC6593F58A4B60D274D68503D880BC35A80EB8C44B3B6E3A59FD7E2C8EE
Participant Details
Original Note:
The UK is a sovereign currency issuer, taxation hasn't funded Govt spending since Bretton-Woods ended in 1971. Further, something being "unfunded" is a product of arbitrary payback assumption made in the budget model. Explanation of treasury accounting: https://x.com/malcolm_reavell/status/1685589853214220288?s=46&t=t31znkurlEmNGMU4EYog2g
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