> The point there being that the bank is the middleman not the government.
The current UK government is not going to be the one to "expand the role of government", eliminate the private sector and avoid allowing "private enterprise" (i.e. their pals and donors in big business) a role (i.e. a cut). They're ideologically opposed to that. Mr Sunak, The current PM has ties to banking, he's not going to leave them in the cold. Like he does with pensioners who can't afford heating.
Grandparent is correct: currency is already digital. The majority of my GBP transactions are digital now - they are not pieces of paper with picture of the late Queen changing hands, they are database records, mediated by a "buy" button in the web browser, or the tap of a card onto a reader.
Nevertheless, there are political parties that claim to believe in "small governments" along with "free markets", "individual achievement" and other buzzwords that mean they'll enrich their pals in business, and cut anything that helps poor people. The current UK administration is very much one of those.
They will (ideologically) shrink certain aspects of the state by "outsourcing" or handing it over to private companies. e.g. If you think that the welfare and healthcare aspects of the UK state are currently "expanding the role of government" then you're misinformed. If you think that there hasn't been "austerity" for government services in the last few years, then you don't know the UK at all.
Banking will be likewise, they don't believe in meaningful financial regulation.
Not to change the subject; the claim was not "one is better than the other", the claim was "this government will make the government the middleman for financial transactions, instead of a bank".
And in terms of this government where the PM, Mr Sunak, is an ex-Goldman Sachs guy, it is an extraordinary claim. Even absurd.
The current UK government is not going to be the one to "expand the role of government", eliminate the private sector and avoid allowing "private enterprise" (i.e. their pals and donors in big business) a role (i.e. a cut). They're ideologically opposed to that. Mr Sunak, The current PM has ties to banking, he's not going to leave them in the cold. Like he does with pensioners who can't afford heating.
Grandparent is correct: currency is already digital. The majority of my GBP transactions are digital now - they are not pieces of paper with picture of the late Queen changing hands, they are database records, mediated by a "buy" button in the web browser, or the tap of a card onto a reader.