@RichardJMurphy I do have a question though, about ‘Government spending always comes before tax revenues can flow in’ - you seem to be talking about Modern Monetary Theory - are you concerned that Truss’s mini budget, and the subsequent crisis, has eroded the logic of this argument? There’s a renewed focus on balancing budgets, which ‘spend then tax’ doesn’t seem compatible with.

@RichardJMurphy the #toriesout need a reality check, spending far too much money!

@RichardJMurphy Good to see you here, Richard.

@RichardJMurphy absolutely agree of course

@RichardJMurphy
So much sense. Thank you for putting this so well

@RichardJMurphy
We do not need a strong economy to pay for the NHS. We need a strong NHS as a pre-condition of a strong economy. Government spending always comes before tax revenues can flow in. Never more true than the moment we are in now.

@RichardJMurphy So true, we can’t invest in the economy if we are all bankrupt paying medical bills. Look at America.

@RichardJMurphy If we decided to spend billions it would take to resolve the NHS crisis, and we chose to do it in a way that would promote growth, I don't think we would best spend it on the NHS

@RichardJMurphy and this is my argument for #FreeSchoolMeals for all too, that if we invest in the #health of our children then we will invest in the strength of our economy...and also help to protect the #NHS. When we have healthy, well-nourished children, they will become less of a 'burden' on services in the future. #Politics #CostOfLivingCrisis #Poverty #Education #Sunak

@RichardJMurphy
Having a strong NHS to get a strong economy is particularly true right now with so many more chronically sick individuals including many on waiting lists for treatment who can't work because they haven't had that treatment.
@Lingardenisle

@RichardJMurphy pre-condition of having a GE & emptying this lot from power.

@RichardJMurphy
Absolutely. In every paper I wrote I
always referred to the mantra :
a healthy population produces a healthy economy. Trotted it out in meetings as often as I could!

@RichardJMurphy I heard a stat yesterday that for every pound spent on the NHS, the economy benefits 4 fold. Spending in the right way benefits the economy. Austerity means you take money away from the people who spend it, deepening any recession. It is poor economics.

@RichardJMurphy If someone could just explain to Sunak and Hunt that tax is not a generator of revenue but a recovery of outputs from prior spending and that the principal effect of their proposed austerity is going to be the massive enrichment of commercial bankers at the expense of workforce health and welfare it would really be very helpful.

@RichardJMurphy hi Richard
Glad to find you here
I follow you on twitter too

@RichardJMurphy found you, finally ☺️