Comments by "" (@blackbulldog4897) on "Rachel Reeves’ increase in employers’ national insurance is going to cost the NHS dear" video.

  1. Same place all govt spending comes from: . Parliament authorises spending . HMT instructs the BofE to mark up accounts of recipients . New £s every time
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  2. Govt pays interest on its debt by political choice. It's policy is to refinance any deficit by issuing HMT securities (Gilts etc). If it chose not to issue HMT securities then any deficit would reside in the Ways and Means Account at the BofE and attract the bank rate. BofE is wholly owned by the UK govt and it must remit all profits to HMT.
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  3. ​ @physiocrat7143 taxpayers can't create £s, only government can.
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