Sunday, 10 January 2010
With no national debt interest to pay could governments massively cut taxes without cutting spending ?
Could state banks (that have a guaranteed deposit flow from government activities) use profits from low interest loans to the public to pay for government services and infrastructure to replace some or all taxes ?
In the UK public money that was chasing fraudulent interest rates was lost when these private banks went bankrupt:
Regional UK local government banks making profitable low interest loans would be much preferable to the current system (established in 1998) of 'regional development agencies' doling tax payer money out to all sorts of questionable loss making activities:
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