Tax mix and rates in a low interest environment will change

Low inflation means at its best zero inflation, which is good. But low interest rates don't mean a zero rate because that would be bad

When supply goes up, prices usually tend to go down, provided demand remains constant or declines. By and large, the same thing happens to money also.

That’s why we have seen interest rates gradually tending down for the last 30 years. The supply of money has been increasing. In some countries the rates have gone to zero or almost zero.

This much is known. But what effect does this have on fiscal policy which caused the supply of money to rise in the first place?

Before answering that, let’s get a tricky question out of the way: what exactly is meant by ‘low’