RE: https://mstdn.social/@junesim63/116594485894344165
June Sim here points us to an important but much under-discussed issue for the left: government bond market reform.
This is currently particularly moot, because Andy Burnham is (to my knowledge) the only likely future Labour leader that has openly broached this discussion.
Key points for the left include...
1. Ditching the admittedly fun argument that 'the markets' brought down Liz Truss (they were, in fact, mainly reacting to Bank of England mistakes the day before the Truss mini-budget).
2. Which raises the broader issue of government control of monetary policy.
3. Curtailing the supply side for gilts - not just through fiscal measures, but also alternative NS&I initiatives.
4. Other regulation (the article suggests legislation for domestic investment in gilts - actually two-thirds are already held within the UK - 'the country' is paying the interest to itself anyway!).
5. The media story - eg. is it ready for a more MMT-inclined narrative on monetary and fiscal policy ?
