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 →

Why economists should sit on SAGE

Throughout the pandemic, our politicians have been urged to “follow the science” or, more accurately, the advice provided by medical scientists. Other disciplines play only a bit part. There are Scientific Advisory Group for Emergencies (Sage) sub-groups assessing the impacts of Covid on the provision of social care, or minority ethnic groups, but what about … Continue reading Why economists should sit on SAGE →

Bank of England needs to act now to tame the inflation tiger

It’s not often I agree with the International Monetary Fund (IMF), but their latest warnings on the risks of inaction from the Bank of England could not have been more timely. The jump in consumer price inflation to 5.1 per cent in November has already taken it well above the figure of 4.5 per cent … Continue reading Bank of England needs to act now to tame the inflation tiger →