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MMTUK Policy Research Group @mmtuk.bsky.social · 07/10/2026

(4/5) The missing piece: an anchor for wages and prices that doesn't rely on unemployment. A Job Guarantee does that. Public work at a fixed living wage expands in downturns, contracts in recoveries; a buffer stock of employment, not unemployment.

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MMTUK Policy Research Group @mmtuk.bsky.social · 07/10/2026

(3/5) It commits to previous tap issuance of gilts with the Bank of England as buyer of last resort. That means the government sets the terms on which it borrows, not bond markets. Interest costs stabilise; political pressure on fiscal policy falls.

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MMTUK Policy Research Group @mmtuk.bsky.social · 07/10/2026

(2/5) The framework recognises inflation comes from supply shocks; energy, bottlenecks, market power; which interest rates cannot fix. Instead: strategic investment to build capacity, buffer stocks for critical goods, credit regulation to absorb shocks.

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MMTUK Policy Research Group @mmtuk.bsky.social · 07/10/2026

(1/5) The UK Green Party has just passed a motion replacing fixed fiscal targets with a functional framework: fiscal space is real resources, not arbitrary debt limits. That's MMT in practice. #MMT #UKEconomics #UKGreenParty #UKPolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 22/09/2026

"Colonised by purchase rather than conquest," Warren Buffett warned. Our new animated briefing explains why that fear misses the point. #MMT mmtuk.org/education/briefings/the-i…

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MMTUK Policy Research Group @mmtuk.bsky.social · 19/09/2026

Trade deficits aren't a sign of losing. They're real goods received for currency. A sovereign nation can run them indefinitely if it governs well. #MMT mmtuk.org/education/briefings/the-i…

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MMTUK Policy Research Group @mmtuk.bsky.social · 18/09/2026

Warren Buffett's trade deficit parable left something out: what a government can actually do. Meet Makerville, the island he forgot. #MMT mmtuk.org/education/briefings/the-i…

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/07/2026

The Bank held rates this week, and rightly so. Monetary policy can't fix an imported energy shock, but it can stop standing in the way of the fiscal policy that can. Writes @patriciapino.bsky.social

mmtuk.org

https://mmtuk.org/research/the-wrong-tool-for-the-job/

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MMTUK Policy Research Group @mmtuk.bsky.social · 20/06/2026

In Brighton today, 10:30am at the Jubilee Library, speaking with Steven Hail on public investment, fiscal framing, and why the "household budget" account of affordability has the causation backwards. #MMT #economics #UKpolitics

events.humanitix.com

https://events.humanitix.com/anti-austerity-economics-brighton

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MMTUK Policy Research Group @mmtuk.bsky.social · 18/06/2026

Both hosts of the MMT Podcast will be in Brighton this Saturday. Patricia Pino and Christian Reilly join Steven Hail and Sheridan Kates for a full day of lectures on money, inflation and public purpose. Saturday 20 June, 10:30am–4pm. #MMT #economics #UKpolitics

events.humanitix.com

https://events.humanitix.com/anti-austerity-economics-brighton

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MMTUK Policy Research Group @mmtuk.bsky.social · 13/06/2026

Can public investment help us fight inflation? Patricia Pino, our Executive Director, speaks on 'Public Investment and the Cost of Living Crisis' at the Brighton workshop this Saturday 20 June. #MMT #economics #UKpolitics

events.humanitix.com

https://events.humanitix.com/anti-austerity-economics-brighton

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MMTUK Policy Research Group @mmtuk.bsky.social · 11/06/2026

The summer 2026 injection window for Rough storage closes in weeks. What we set now determines winter 2026/27 resilience. The UK can move from price taker to price shaper. #MMT #economics #UKpolitics

mmtuk.org

https://mmtuk.org/research/energy-price-policy/

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MMTUK Policy Research Group @mmtuk.bsky.social · 10/06/2026

£15/hr, £31,200/yr. Up to 4 million beneficiaries. A Job Guarantee sets a wage floor, ends involuntary unemployment, and costs £9,458–£12,135 per participant. The social value: £10.1bn–£33.5bn. SROI 140–180%. Read the full case. #MMT #economics #UKpolitics

mmtuk.org

https://mmtuk.org/research/job-guarantee/

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MMTUK Policy Research Group @mmtuk.bsky.social · 09/06/2026

Public investment isn't unaffordable. A currency issuer chooses what to spend on. Join us Saturday 20 June in Brighton to learn how to reframe the debate: finding the money, building anti-austerity economics for the UK, and winning the argument. #MMT #economics #UKpolitics

events.humanitix.com

https://events.humanitix.com/anti-austerity-economics-brighton

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MMTUK Policy Research Group @mmtuk.bsky.social · 08/06/2026

(5/5) The Single Buyer pathway completes the shift: active management of supply, price and resilience. Read our full research on moving the UK to price shaper. mmtuk.org/research/energy-price-pol…

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MMTUK Policy Research Group @mmtuk.bsky.social · 08/06/2026

(4/5) The previous Energy Price Guarantee cost £25bn. Acting on the mechanism itself costs less than compensating consumers downstream. Lower income households and small firms bear the worst burden when supply tightens.

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MMTUK Policy Research Group @mmtuk.bsky.social · 08/06/2026

(3/5) The Baseline Allocation Mechanism removes low-carbon generation from gas-set marginal pricing. At 50% coverage, blended electricity prices fall ~25%. Price formation, not fiscal transfers after the fact.

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MMTUK Policy Research Group @mmtuk.bsky.social · 08/06/2026

(2/5) Four named instruments. Bacton export levy keeps UKCS gas domestic. Import Attraction Mechanism stays competitive for LNG when needed. Public Rough storage cuts dependence on winter price spikes.

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MMTUK Policy Research Group @mmtuk.bsky.social · 08/06/2026

(1/5) The UK is a price taker in global gas markets. Summer 2026 is the action point: storage injection this season determines winter resilience. We have a plan to move from taker to shaper. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 07/06/2026

Can public investment ever be unaffordable? It depends what we spend it on. Join Patricia Pino of MMTUK, at Brighton on 20 June to explore how a currency issuer funds the economy. Full day, three sessions, no economics background needed. #MMT #economics #UKpolitics

events.humanitix.com

https://events.humanitix.com/anti-austerity-economics-brighton

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MMTUK Policy Research Group @mmtuk.bsky.social · 06/06/2026

The UK government is not a household. It doesn't need to "find the money" before it spends because it issues the currency. The real constraint on spending is what we can actually produce; labour, materials, land; not the size of the deficit. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 05/06/2026

Inflation is not inevitable when unemployment falls. That's the Phillips curve myth. A Job Guarantee at £15/hr sets a wage floor and anchors prices without requiring involuntary joblessness. Full employment and price stability are jointly achievable. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 04/06/2026

The UK imports gas at volatile global prices while exporting cheap domestic supply. This summer's storage injection window is the action point: a public reserve at Rough, a Bacton export levy. #MMT #economics #UKpolitics

mmtuk.org

https://mmtuk.org/research/energy-price-policy/

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MMTUK Policy Research Group @mmtuk.bsky.social · 03/06/2026

The UK runs a trade deficit. Orthodox economics calls this a failure. MMT calls it a real benefit: imports are goods and services we consume; exports are goods and services we give away. Read our base case for analysis on how a currency issuer should think about trade. #MMT #economics #UKpolitics

mmtuk.org

https://mmtuk.org/education/mmt-international-trade/

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MMTUK Policy Research Group @mmtuk.bsky.social · 02/06/2026

"If one million young people cannot find a job, education, or training, the solution is obvious: have the central government fund organisations that can offer them one. But policymakers cannot comprehend an answer that does not rely on the 'market' to solve all the problems." A must-read thread #MMT

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MMTUK Policy Research Group @mmtuk.bsky.social · 02/06/2026

The "bond market" threat to public spending is a bluff. The UK is a currency issuer. It sets interest rates, not the other way round. Bond issuance is a reserve-draining operation, not funding for spending. Read how the real constraint works. #MMT #economics #UKpolitics

mmtuk.org

The Bond Market Bluff

Every time someone in British politics proposes funding public services properly, the bond markets get wheeled out like a loaded gun. Spend more on the NHS and the markets will panic. Hire more teachers and investors…

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MMTUK Policy Research Group @mmtuk.bsky.social · 01/06/2026

(5/5) Register now for 20 June. MMT-curious or new to the theory; come learn how public spending really works and what becomes possible when we stop treating the public purse like a household budget. events.humanitix.com/anti-austerity…

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MMTUK Policy Research Group @mmtuk.bsky.social · 01/06/2026

(4/5) The workshop runs 10:30am–4pm at Jubilee Library, Brighton. Three sessions: 'Finding the Money', 'Anti-Austerity Economics for the UK', 'How to Win'. Optional evening social. Open to everyone curious about how the economy actually works.

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MMTUK Policy Research Group @mmtuk.bsky.social · 01/06/2026

(3/5) Steven Hail and Sheridan Kates are there too, with Christian Reilly. A full day on MMT as a policy frame, taming the bond-market objection, and how to shift from austerity to sufficiency. No economics background needed.

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MMTUK Policy Research Group @mmtuk.bsky.social · 01/06/2026

(2/5) Patricia Pino, MMTUK's Executive Director, is speaking on public investment and the cost of living crisis. She'll show you the real constraints on spending. Spoiler: the Treasury's budget is not one of them.

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MMTUK Policy Research Group @mmtuk.bsky.social · 01/06/2026

(1/5) Public investment is not unaffordable. A currency issuer can always spend on public purpose. The question is whether we choose to. Come to Brighton on 20 June to learn why austerity is a political choice, not an economic law. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 31/05/2026

Inflation is not an inevitable fact of full employment. It is a policy choice about whether to use unemployment as a price anchor. The Job Guarantee replaces the jobless anchor with a fixed wage floor. Full employment and price stability become jointly achievable. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/05/2026

(5/5) The Job Guarantee is how we move past the false choice between jobs and prices. The JG is not workfare. It's a permanent, living-wage offer that lets us choose full employment. Read the full response and join the debate.

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/05/2026

(4/5) Proof of concept? Argentina's Plan Jefe. Under the job guarantee, poverty fell from 55% to 35%. Unemployment from 25% to 10%. Real wages rose. The work was dignified, voluntary, locally administered. Same model. Different scale.

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/05/2026

(3/5) Bill Mitchell says: NAIRU is archaic. There is no trade-off between full employment and price stability. The JG buffer stock absorbs the stabilising role unemployment used to play without the human cost. Better for the economy and workers.

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/05/2026

(2/5) The core objection: won't a JG just transfer inflation from unemployment to wages? No. The JG is counter-inflationary precisely because it anchors the wage floor. Involuntary unemployment is the inflationary policy we reject.

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MMTUK Policy Research Group @mmtuk.bsky.social · 30/05/2026

(1/5) Richard Murphy raised real questions about the Job Guarantee. We've answered them. 4 million people employed at £15/hr, net cost £9,458 per person, Social ROI 140–180%. This is the economic conversation the nation needs. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 29/05/2026

The UK is a price taker in global gas markets. In winter, the cost of expensive LNG sets our wholesale price. Summer is the only window to change that before demand peaks again. Four instruments make it possible. Read our full report. #EnergyPolicy #UKEnergy #EnergySecurity

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MMTUK Policy Research Group @mmtuk.bsky.social · 28/05/2026

The UK government can always afford to pay for real things that exist: nurses, insulation, flood barriers, care workers. The constraint is never money. It's whether the real resources are available. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 27/05/2026

Inflation always has winners and losers. How it is addressed is a policy choice about which group bears the cost of scarce real resources. The orthodox story says we must maintain unemployment to control prices. That story is wrong. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 26/05/2026

Imports are real benefits. Exports are real costs. This is the base case for analysis in a monetary sovereign's trade account. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 26/05/2026

UK gas prices are set by global LNG markets, even though LNG is a minority of supply. Four instruments change that: anchor domestic prices below continental levels, attract imports when needed, build a strategic buffer, and decouple electricity from gas. #EnergyPolicy #UKEnergy

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MMTUK Policy Research Group @mmtuk.bsky.social · 24/05/2026

Inflation is not an unemployment problem. It's a choice about what anchors wages and prices. The orthodoxy uses joblessness as a price anchor; MMT uses a Job Guarantee wage floor. Same inflation control. Different cost in human terms. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 23/05/2026

Imports are real benefits. Exports are real costs. That's the base case for analysis in a currency-issuing economy. The UK gets goods and services; in return, it exports pounds. Which would you rather have? #MMT #economics #UKpolitics mmtuk.org/education/mm...

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MMTUK Policy Research Group @mmtuk.bsky.social · 22/05/2026

The price of UK's gas supply is set by global LNG markets. Winter 2026/27 resilience depends on what we inject into Rough storage this summer. Increasing storage capacity is just one of four practical policy levers that can bring prices back under our control. #MMT #economics #UKpolitics

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MMTUK Policy Research Group @mmtuk.bsky.social · 21/05/2026

The UK government can always afford to pay for real goods and services available in the economy. The constraint is not pounds in an account; it is whether those goods and services actually exist. A currency issuer spends by crediting bank accounts. #MMT #economics #UKpolitics

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