UK: “Shocking ignorance” from MPs who don’t know where money actually comes from

Posted: October 30, 2017 in Uncategorized

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Only 15 per cent of MPs surveyed answered correctly when asked a true/false question on whether banks create money when they make loans. Almost two-thirds of the 50 MPs surveyed by Dods for campaign group Positive Money wrongly thought banks can’t create money, while a quarter admitted they didn’t know.

Journal of People

by Jasper Jolly

CITY A.M. | October 27, 2017

Anti-government Protestors Turn Out For Theresa May's Farewell Drinks Event

Money doesn’t grow on trees – but it doesn’t come from the government either (Source: Getty)

The majority of Britain’s politicians don’t know where money comes from, despite being tasked with deciding how much of it ends up being spent, according to a poll of MPs published today.

Only 15 per cent of MPs surveyed answered correctly when asked a true/false question on whether banks create money when they make loans.

Almost two-thirds of the 50 MPs surveyed by Dods for campaign group Positive Money wrongly thought banks can’t create money, while a quarter admitted they didn’t know.

View original post 226 more words

Comments
  1. Alan Scott says:

    That’s what we’re up against! 85% of them don’t know – and most of those don’t want to know!

  2. Alan Scott says:

    By the way, I understood what the problem was with my comments on your blog. If The comment includes more than 2 links it loads slowly, so I thought it hadn’t loaded at all. Sorry about that 😦

  3. […] via UK: “Shocking ignorance” from MPs who don’t know where money actually comes from — The Most … […]

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