This blog will correct widespread misunderstandings about the ownership of money, especially at the heart of government. Thatcher stated that the state had no money, it was the people’s money. She was completely wrong. That is why her economic model is now collapsing.
Money is a measure. It is issued by, belongs to and always remains, the property of the state. The state is greater than the individual. Witness the ungoverned spaces across the middle east, many parts of Africa and parts of Asia and all can see how critical a functioning state is to the welfare and life quality of everyone. The state comes first as a structure. The individual can and should have great freedom, within the state, of how to live and what to choose and, in a democracy, determines who shall be in charge and with what programme.
Therefore there is no such thing as Taxpayers’ Money. It belongs, all of it, to the state. The state keeps as much as is needed to provide the protection, services, infrastructure, health and security individuals need either for personal or business needs. The rest may be kept by individuals to use as they wish within the law. It is for the state to determine how much it needs to do its job and the individual can retain for business or personal use, the remainder.
I realise that if you belong to a right wing think tank or studied politics at certain of our famous universities, this little piece may make you want to throw up. But as the coming days and weeks unfold, you will begin to see what I mean.