Archives for: UK Budget

George Osborne was to have been a new kind of chancellor for a new kind of Britain. Instead of being an economy hooked on financial services and trading, we were going to be an economy under the stern command of business investment and export markets. Instead of government profligacy, we were going to see government [...]

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Accountable: A letter in the Sunday Times called for Osborne to begin spending cuts a year earlier than planned In February 2010, twenty economists published a letter in the Sunday Times calling on George Osborne to begin spending cuts a year earlier than planned. The key sentence of that letter stated that, ‘In order to be credible, [...]

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Debt Up, Production Down, Recovery Gone

by Mitch Feierstein about 2 years 7 months ago

Let’s not be too hard on George Osborne. He came into office with what was arguably a more difficult bundle of challenges than any incoming Chancellor had ever faced. Facing a challenge: George Osborne Flaky banks, a hideous deficit, soaring debts, public services that had become hooked on ladlefuls of new cash, and an economy [...]

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Budgets are overhyped. Half serious policy announcement, half political theatre. Truth is, almost everything that matters in the government’s fiscal policy was set out in June 2010. Back then, George Osborne announced the pace of the fiscal tightening which would dominate the next five or seven years. The events of today have, very largely, simply [...]

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A Bet For Sir Merv the Swerv

by Mitch Feierstein about 2 years 9 months ago

  ‘Inflation falls.’ That’s the headline countless British consumers have been longing to see. And inflation isn’t just falling: the Bank of England predicts that prices rises will be down as low as 1.7% some time later this year. If that’s true, it’ll be a blessed relief for countless consumers. Personally, though, I’m just about [...]

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