Spare a thought for the staff of the Office for Budget Responsibility (OBR), beavering away on a new set of economic and fiscal forecasts for the Chancellor’s Spring Statement on 23rd March. The fallout from the Russian invasion of Ukraine has made a difficulty task almost impossible. It makes sense to present a range of … Continue reading Too soon to write off the recovery – or raise taxes
Category: Fiscal Policy
When facts change, fiscal policy should change too
Putin’s murderous assault on the people of Ukraine is a threat to peace and security worldwide. But someone also has to worry about the impact on the UK economy. The fallout should prompt a rethink of the response to the cost of living crisis and the tax hikes planned for April. The catastrophe in Ukraine … Continue reading When facts change, fiscal policy should change too
Lies, damned lies, and G7 league tables
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
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’
