What I would do as chancellor

What would I do on my first day in office as Chancellor to create an economy in the UK based on the thinking that modern monetary theory makes possible?

In this video, I explain why MMT does not need to be “implemented” in Britain, because it already describes how government money works. The real task is to change policy. In that case, I set out six first-day reforms to:

• • Replace false fiscal rules

• Launch a targeted public investment programme

• Create a policy that delivers secure, long-term jobs

• Reform the Treasury and Bank of England relationship

• Redesign tax to tackle inflation, inequality and rent extraction

• Redirect savings and pension subsidies into productive investment

This is not about fantasy economics. It is about ending neoliberal myths and managing the real economy in the public interest.

If you want to understand what an MMT-based economic strategy for the UK would actually look like, this video explains it.