There has been the usual blizzard of commentary on last Wednesday’s Budget – most of it negative – which continued over the weekend. For chapter and miserable verse, try the IFS or the Resolution Foundation. This piece will reflect instead on three positives and offer a quick verdict on some of the individual announcements. The … Continue reading A ‘glass half full’ take on the Budget
Category: Politics
We need more serious conversations about both tax and spending
The run-up to the March Budget has seen the usual flurry of rumours about how much room Jeremy Hunt has for tax cuts and what he might do with it. This time, however, there is also a growing consensus that the current fiscal framework is not fit for purpose – and that we need to … Continue reading We need more serious conversations about both tax and spending
A manifesto for growth
One positive legacy from the brief premiership of Liz Truss is that politicians are finally talking about the importance of economic growth. Unfortunately, there is little agreement on how to turn this talk into action. My manifesto would be based on four priorities: rebooting productivity; removing blockages that add to the cost of living; improving … Continue reading A manifesto for growth
How much should we fear the return of the ‘bond vigilantes’?
BlackRock’s UK chief investment strategist, Vivek Paul, has warned this week that pre-election promises of large tax cuts or spending increases could unsettle the bond markets again. There are clear echoes here of the turmoil that followed the Truss/Kwarteng mini-Budget back in 2022. But how worried should we be? These warnings should not be dismissed … Continue reading How much should we fear the return of the ‘bond vigilantes’?
Plain-speaking Economics 