The Bank of England’s decision to trim its key interest rate by another quarter point this week was widely expected, but there is still plenty to write about. Unfortunately, little of this is good news. For a start, why on earth is the Monetary Policy Committee (MPC) still cutting rates when the Bank itself now … Continue reading The Government cannot take credit for the cuts in UK interest rates
Tag: investing
One and a half cheers for Rachel Reeves!
The Chancellor has a taxing job (pun intended), but we all deserve a break occasionally. So, I’m going to be positive about her latest Mansion House speech. Admittedly, there is nothing here to justify the hype about a new ‘Big Bang. The so-called ‘Leeds Reforms’ (in a nod to Reeves’ constituency) are little more than a … Continue reading One and a half cheers for Rachel Reeves!
The Government should not be telling pension funds where to invest
The Pension Schemes Bill (recently introduced for its second reading in Parliament) continues some sensible reforms which should tidy up the industry and boost returns for savers. However, these measures have been overshadowed by a pointless row over plans to direct more investment towards “private assets”. Most strikingly, in an interview with the Financial Times last Monday, the chief executive … Continue reading The Government should not be telling pension funds where to invest
Lies, damn lies, and Spending Review soundbites
On Wednesday, Chancellor Rachel Reeves will present her ‘Spending Review 2025’. This will set day-to-day budgets for all government departments for the three years from 2026-27 to 2028-29, and investment spending plans for a further year, to 2029-30. As usual, many of the details have already been revealed. In particular, ministers have trumpeted a ‘transformative … Continue reading Lies, damn lies, and Spending Review soundbites
Plain-speaking Economics 