Opposition to tariff-free access to UK markets for Australian farmers is protectionism, pure and simple. Minette Batters, president of the National Farmers Union (NFU), argues that removing tariffs would make it ‘all but impossible’ for British family farms ‘to compete with vast volumes of imports from the southern hemisphere produced in a very different manner’. … Continue reading Britain should welcome cheaper food from Australia, not tax it
Category: Taxation
It’s time to pause QE
Consumers, businesses, and investors are increasingly optimistic about the prospects for the UK economy, and independent forecasts are continually being revised up. Policymakers at the Treasury and Bank of England should now be reassessing their plans too. The consensus at the start of the year was that UK GDP would grow by around 4% in … Continue reading It’s time to pause QE
Is there any money left?
In 2010, Liam Byrne left a note to his successor as Chief Secretary to the Treasury which famously read “I’m afraid there is no money”. After all, annual borrowing had just peaked at a record £158 billion, and the stock of debt was about to top £1,000 billion for the first time. Roll forward a little over a … Continue reading Is there any money left?
Two cheers and one boo for the Budget
On balance, I think Rishi Sunak got more things right than wrong in Wednesday’s Budget. Let’s start with a couple of positives. First, he extended the most important support measures, including the uplift to Universal Credit and the furlough scheme, until the end of September. This is probably longer than strictly necessary because the remaining … Continue reading Two cheers and one boo for the Budget
Plain-speaking Economics 