Another month, another set of scary numbers on the public finances: the UK government borrowed an additional £36 billion in September and total public debt rose to £2,060 billion, or around 103.5% of national income (GDP). But there is still no need to panic. For a start, the figures are entirely as expected. If anything, … Continue reading How much should we worry about UK government debt?
Tag: government borrowing
Fiscal and monetary policies in a time of Covid
Here’s a presentation I gave on 19th October (to A-level economics and business students) on fiscal and monetary policies in the UK, covering topics such as the impact of Covid on the public finances, whether taxes will have to rise to pay for it, whether the BoE should ease further, the pros and cons of … Continue reading Fiscal and monetary policies in a time of Covid
No, Observer: ‘free-market think-tanks’ haven’t changed their tune
This Sunday the Observer ran a frontpage story headlined ‘rightwing thinktanks call time on austerity era’. I was quoted in the article, wearing my IEA hat, as were representatives of the Adam Smith Institute, Centre for Policy Studies and Policy Exchange. As it happens, I am happy with the specific comments attributed to me, which … Continue reading No, Observer: ‘free-market think-tanks’ haven’t changed their tune
How will we pay for all this?
The coronavirus pandemic is of course primarily a social crisis, but the fiscal costs are also important. A sharp and sustained deterioration in the public finances could have major implications for future government spending and taxation. Many are already asking 'how will we pay for all this?' and worried about the prospect of 'Austerity 2.0'. … Continue reading How will we pay for all this?
Plain-speaking Economics 