The Government Can Never Run Out Of Money - Richard Murphy - Updated

20th August 2024

The UK government can never run out of money because it creates all the money that it spends, with the Bank of England being required to make all payments approved by Parliament. In that case, claims that the government could ever run out of money are false. Instead, they usually reflect a political agenda opposed to government spending, per se. The UK government will always be able to pay its debts denominated in sterling because it can always create the means to do so.

In this morning's video I note that politicians, commentators and journalists all like to claim that the UK government could run out of money, but that is total nonsense. The UK government can always create the money it needs to pay its debts. It is the one and only organisation in the UK that can never, as a result, run out of money.

Full article and video HERE