To govern is to choose…

Posted: April 7, 2020 in Debt, Monetary System
Tags: , ,

This was the maxim of Pierre Mendes-France’s concerning governments function of being decisive in the face of a multitude of options.

Recently the UK Health Secretary announced a writing off of some NHS debt. Although it was at a zero cost, and one branch of the government effectively agreeing to not honour another branch of government…

Notice the terminology of the write off

Therefore it is possible to make these calls and instances such as these should be hghlighted….however the main beneficiary here is the government itself, it was a situation made simpler by not having to worry about external parties who would loose their investment.

Ofcourse this can’t necessarily be seen as a precendent in all cases however given the emergency this pandemic has presented, it is worth noting how much is possible in such circumstances

https://www.independent.co.uk/news/uk/politics/coronavirus-nhs-debt-matt-hancock-press-conference-briefing-a9443926.html

https://www.gov.uk/government/news/nhs-to-benefit-from-13-4-billion-debt-write-off

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