Birdwatch Note Rating
2024-06-11 06:05:06 UTC - NOT_HELPFUL
Rated by Participant: D33298FDD81580BCD5BB5296BB7F40D122393C80120EE776E4DF3F9EBA1D487E
Participant Details
Original Note:
Research shows that UK public spending is a sovereign line of credit from the accounting structure known as the Consolidated Fund at the Bank of England. Taxation and borrowing occurs after. Source: https://www.ucl.ac.uk/bartlett/public-purpose/sites/bartlett_public_purpose/files/the_self-financing_state_an_institutional_analysis_of_government_expenditure_revenue_collection_and_debt_issuance_operations_in_the_united_kingdom.pdf Source: https://gimms.org.uk/wp-content/uploads/2021/02/An-Accounting-Model-of-the-UK-Exchequer-2nd-edition.pdf Therefore the government can find the money.
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