Liam Byrne on leaving office left a one-line letter,' in which he told the 'then-chief secretary to the Treasury: "I'm afraid there is no money", and signed off wishing him "good luck!"'
It was a JOKE, Lilyflower, a bloody joke. He was not the first person to have left a similar message to his successor from the opposing party.
Governments cannot run out of money. They don't even need to borrow money. They can just create it. Where do you think all that quantitative easing (about £400billion) came from over the years?
National budgets are not like household budgets; it is a myth that they are but a very convenient one for governments as they can con swathes of the population into believing that they need to economise on public services.
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Pigeon Lofts - any words of warning? Thank you
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