If you believe the smoke signals from the Treasury – and you probably should – the Budget on 17 November will have to include big increases in tax in order to plug a ‘black hole’ in the public finances. But is it inevitable that taxes will have to rise and, if so, what’s the best way to … Continue reading Are tax rises inevitable?
Tag: government borrowing
Can ‘Trussonomics’ survive?
The new Government is clearly in an almighty mess, but I’ll leave the political commentary to others. Here are some thoughts on the economics and the markets. Let’s start by summarising what went wrong. The tipping point was the mini-Budget in September. The mistake here was not the Energy Price Guarantee, or the cancellation of … Continue reading Can ‘Trussonomics’ survive?
The case for a real-terms benefit cut is weak – and it would be political madness
The reluctance of both the Chancellor and the Prime Minister to confirm that non-pensioner benefits (notably Universal Credit) will be uprated next year in line with inflation has fed speculation that the Government is considering a real-terms cut. My advice would be to squash this idea as soon as possible – mainly because it is … Continue reading The case for a real-terms benefit cut is weak – and it would be political madness
‘Morning after’ reflections on the mini-Budget…
It may well take some time for the dust to settle on Kwasi Kwarteng’s first Budget (yes, ‘Budget’: if it looks like a duck, walks like a duck and quacks like a duck, then it’s fair to call it a duck). The initial reaction from most economic commentators and in the financial markets has been … Continue reading ‘Morning after’ reflections on the mini-Budget…
