How on earth could Jeremy Hunt possibly be a good steward of the NHS when he and the rest of the Tory government still think the country’s on the Gold Standard?
In 1936 in his book “The General Theory of Employment, Interest and Money” John Maynard Keynes told us economies rarely self-balance or self-optimise because of the uncertainty factor in private sector investment. Accordingly he argued governments usually need to compensate for that under-investment by spending to maintain full employment or at least help demand increase through targeted tax reductions or tax credits. The vast majority of the British electorate are now oblivious to Keynes’s insight. This majority also fails to understand that Britain left the Gold Standard in 1931 and the rules about the government needing to balance its books died with it! Why? Because with the death of the Gold Standard and its replacement with modern fiat money Britain’s sovereign government was now free to create the nation’s money debt free and from nothing and use that power to help achieve full employment. This was the whole point of giving the Gold Standard the elbow because of the terribly high levels of unemployment in the 1920’s!!! Britain is now in imminent danger once again of moving the country backwards to the 1920’s with its meat grinder proposal of Austerity and Brexit!
Before I get the standard silly comment that this means the government can create millions of pounds to give away to individuals just engage your brain for more than a few seconds! The government is tasked through the ballot box with delivering public goods and services many of which will be provided by the private sector as well as public sector workers. All will have to put in effort to get paid for their goods and services.
Interesting that Jeremy Hunt is absolutely nowhere to be seen on the media. He tried one interview where he failed miserably – and has not been let out of conservative HQ ever since.
May will most likely jettison Hunt as health secretary after the election. Health and social care are now such huge issues it needs a big hitter in charge. Unfortunately, I can’t think of one. Perhaps TM will take that on as well.
bouledesuif – > cocygath
But she isn’t a big hitter either. Her ministry was defined by mediocrity.
felicity -> AndreRyan
Sigh. For the zillionth time – the NHS budget has been cut in real terms. It traditionally requires a 3.4% increase year on year – the Tories cut this to 0.9%. Oh, and they introduced the internal market which has been most effective as a funding sponge taking money away from patient care.
Scalbybeck – > AndreRyan
filocity has already made this point for you, but if you click here and scroll down to Fig 3, there’s even a handy chart showing the drop in real terms funding for the NHS implemented by the current government. And the other drops caused by past Conservative governments: https://www.kingsfund.org.uk/blog/2015/10/nhs-spending-squeezed-never
Hunt has done a great job for the Tories , not the NHS . His task was to run it down onto its knees , so when the privateers come along it would be ready to pick off the profit making parts and leave the rest to the taxpayer .
Clare Munks – > peter bailey
Well said! Trump and May are already lining this up as part of a UK/US trade deal which is going to screw this country over. Along with private health provision, we can look forward to hormone treated beef, chlorine-washed chicken, GM maize and pesticide covered veg. Bon appetit!
peter bailey – > Greenimp
So now its Labour’s fault again, you Tories are priceless, is it a private Education that encourages you to blame everybody else for your F—k ups ?