The Chancellor has confirmed that the date of the Autumn Budget will be Wednesday 26 November. This is relatively late, raising fears that a longer period of speculation and uncertainty will undermine confidence even further, but there are always trade-offs. I can think of five reasons why waiting might make sense. First, and perhaps most … Continue reading The case for a late Budget
Tag: Politics
Will the UK need an IMF bailout?
This weekend the Sunday Telegraph led with Britain ‘heading towards IMF bailout’, citing three leading economists who are warning of a “1970s-style debt crisis unless the Chancellor changes course”. The three – Jagjit Chadha, Andrew Sentance and Willem Buiter – are not the usual suspects and their views should be taken seriously. The story was prompted … Continue reading Will the UK need an IMF bailout?
Better news on growth, but still not good enough
The latest GDP data should ease fears that the UK economy is sliding back into recession. But growth is still too weak to fix the public finances, or encourage hiring and investment, and there are already signs that any positive momentum is fading again. First, though, the good news. GDP grew by 0.3% in the … Continue reading Better news on growth, but still not good enough
US-EU trade ‘deal’ avoids an even worse outcome, but this is still little to cheer
Brexiteers can be forgiven for indulging in a little ‘schadenfreude’ at the news that the EU has agreed the principles of a trade deal with the US on worse terms than the UK was able to achieve. Nonetheless, there are very few winners here. For a start, a final agreement is still some way off. … Continue reading US-EU trade ‘deal’ avoids an even worse outcome, but this is still little to cheer
Plain-speaking Economics 