We Do Not Have A National Debt - Richard Murphy

11th May 2024

The government says the fact that we have a national debt is a problem. But the truth is we don't have a national debt. In reality the government provides people, banks, pension funds and foreign governments the chance to save with it, which is something very different. That's a national savings facility.

ABOUT RICHARD MURPHY
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax’.