Are Taxes Higher in the UK?
We all end up paying high taxes in the UK when a country's money supply is created by banks. This is so that taxpayers don't have to foot the bill for bank-caused financial crises and because banks receive the proceeds from the creation of new money instead of the taxpayer Taxes high in the UK 1. THE PROFITS FROM MONEY-MAKING Paper currency, such as £10 notes, is still printed by the Bank of England. The government makes money on every single bank note it publishes because it only costs a few cents to print a £10 note. This profit on newly produced money totaled £18 billion between 2000 and 2009, which was enough to pay the wages of about 90,000 nurses throughout that time. However, the Bank of England only produces paper currency; banks are responsible for producing the electronic currency that we also use every day. Banks are the ones who profit when money is created; neither the government nor the taxpayers do. Banks raised the amount of money in the UK by £1 trillion thr...