Rishi Sunak is having a relatively good crisis. The Chancellor and his team certainly deserve plenty of credit for the way the Treasury has shielded the large majority of businesses and jobs during an unprecedented slump in economic activity. But this task has been made easier by the broad consensus on the appropriate policies and … Continue reading Now is the time for the Government to make the bold decision to do less
Tag: job retention scheme
No need for ‘austerity’ – as long as lockdown doesn’t last much longer
The media has been dominated this week by scary headlines about the ‘mother of all recessions’, ballooning government borrowing, and the prospect of renewed ‘austerity', whether in the form of public spending cuts or punishing tax increases. As usual, a sense of context and perspective is sorely needed. Let’s deal first with the numbers released … Continue reading No need for ‘austerity’ – as long as lockdown doesn’t last much longer
Six reasons to be optimistic about the economic recovery
The economic data to be reported over the next few weeks will be pretty grim, adding to the social costs of coronavirus. But if you look beyond the headlines, there are at least half a dozen good reasons to be positive about the prospects for the recovery that will follow. First, the recovery has already … Continue reading Six reasons to be optimistic about the economic recovery
The UK’s labour market needs to be allowed to work
There may not be many reasons for optimism about the economic outlook, but one is the relative flexibility of the UK labour market. This should help unemployment to fall back and activity to recover more quickly – provided the government gets out of the way. There is no doubt that many jobs are being lost … Continue reading The UK’s labour market needs to be allowed to work
Plain-speaking Economics 