Thursday, 11 February 2016

Oddly Edited Reader's Letter Of The Day

From The Evening Standard:

Zac Goldsmith grabbed headlines with his claim that a fare freeze by Transport for London would mean a 59 per cent increase in council tax [February 9].

However, anyone who reads the article will see that the true increase would be 17 per cent. Even his claim that the fare freeze would add £175 to an average council tax bill is deeply flawed.

[Missing third para, explaining that the required annual council tax increase would be more like £33.]

This seems like a sensible option to me, especially if the increase were targeted at the super-expensive homes in Zones 1 and 2 who pay the least toward TfL while getting the best value from it.

Mark Wadsworth, Young People's Party.


Random said...

Dear Mark, regarding the debate on credit creation.

Money creation is just balance sheet expansion and all banks do that every time they advance a loan regardless of how it is done.

Renaming some liabilities 'not money' doesn't change their actual nature.

Mark Wadsworth said...

R, you're just throwing meaningless terms about.

In real life, "credit" means "giving somebody goods and services today and trusting them to pay up in future".