What is money and who controls it

Modern Monetary Theory — or modern money as I prefer to call it — simply describes the truth about how money works in the real economy.

Governments create new money every time they spend. Taxation removes money from the economy to control inflation. That’s not a theory: it’s how the Bank of England says money works.

So why do politicians insist the government can “run out of money”? Why do they say the NHS can’t be funded, but war and bank bailouts always can?

In this video, I share 12 essential questions to challenge politicians when they deny economic reality — and ensure the power of money is used for people, not for the wealthy few.