The publication of the first official GDP data for the whole of 2021 has revived a highly politicised debate about how well the UK is doing, compared to our peers in the G7. Part of me doesn’t really care, but there are some important points here. First, the claim that the UK was the fastest … Continue reading Lies, damned lies, and G7 league tables
Category: Fiscal Policy
New energy rebates would mean ‘pay less now, but more later’
The energy regulator Ofgem is about to announce what is likely to be a very large increase in the cap on domestic gas and electricity bills, to take effect from April, prompting a scramble for ways to limit the damage. The Times is reporting that officials are finalising plans to limit the damage for a … Continue reading New energy rebates would mean ‘pay less now, but more later’
Time to ditch the National Insurance hike
The case for scrapping the increase in National Insurance contributions (NICs) planned for April is now so overwhelming that is hard to find good arguments in favour of keeping it. I’ve seen a few, but they are easy to knock down. Nick Macpherson, formerly the top civil servant at the Treasury, has tweeted that ‘National … Continue reading Time to ditch the National Insurance hike
Put April’s tax rises on hold and let growth fix the public finances
First, the bad news. UK consumer price inflation has already hit 5.1pc in the 12 months to November. And it is likely to rise further in the coming months as businesses pass on more of the price pressure that is already in the pipeline. In particular, the energy regulator Ofgem is reviewing its cap on … Continue reading Put April’s tax rises on hold and let growth fix the public finances
Plain-speaking Economics 