Tag: OBR

The cycle will always be with us

Mark Twain is alleged to have read a newspaper account of his own passing and declared ‘the reports of my death have been greatly exaggerated’. That story may well be apocryphal. But it has stood the test of time rather better than Gordon Brown’s now infamous claim as Chancellor that there would never be a … Continue reading The cycle will always be with us

Stronger economy should save us from further tax rises

The Treasury is keeping busy, but hopefully not too busy. On the same day as the Prime Minister unveiled the ‘health and social care levy’, the Chancellor revealed last week that we will only have to wait another 50 days for the Autumn Budget, due on October 27. The focus next month will probably be on … Continue reading Stronger economy should save us from further tax rises

It’s time to pause QE

Consumers, businesses, and investors are increasingly optimistic about the prospects for the UK economy, and independent forecasts are continually being revised up. Policymakers at the Treasury and Bank of England should now be reassessing their plans too. The consensus at the start of the year was that UK GDP would grow by around 4% in … Continue reading It’s time to pause QE

Why we don’t need tax rises to pay for Covid

How deep a hole are we in? The Institute of Economic Affairs has just published a primer I’ve written on the state of the public finances, which digs into this question. On the bright side, I argue that there is no need for any form of austerity, including tax rises, to fill a gap left … Continue reading Why we don’t need tax rises to pay for Covid