Posts tagged with: Bank of England

The Debate We Need to Have

Our social contract – the ‘deal’ that makes us a civilised country – is under grave threat both practically and philosophically. And we are not talking about it. Practically, the UK is in a grave situation. We are in the midst of a serious cost-of-living crisis which will plunge over half of the UK population […]

A Non-Solution to the Wrong Problems

Introduction Before looking in detail at this Budget, it is worth reminding ourselves that the economy is the system we as a country have chosen to put in place to optimise the production and distribution of valuable goods and services for the benefit of our population. There is a wide array of choices open to […]

What the IMF Really Said

Twice a year, the IMF releases its World Economic Outlook. The most recent was published on 11 October 2022. Some on the extreme right have been claiming that it is a clear vindication of Truss and Kwarteng’s disastrous Budget, and even that this Budget will make Britain the “fastest growing country in the G7.” We […]

How to Stop the Government

The Conservative government works hard to give an impression of strength and determination: nothing we can say or do will stop it in its plans. And yet, over the last three years, there have been over 40 U-turns, of which the most notable was the ousting of Johnson, something that seemed impossible just 18 months […]

The “Creative” Destruction of the UK

Last week, we wrote about Truss and Kwarteng’s Budget that “It is very clear that this Budget does not produce the change in direction the country needs; it is a dangerous doubling-down on the failed policies of the past, without even an attempt to safeguard most UK citizens.” Just one week later, that summary seems […]

Trussed-up

  The UK faces multiple interconnected crises. In the medium term, we are suffering from mass impoverishment, failing public services and a climate emergency. In the short term, very acutely, the cost-of-living crisis threatens many people and businesses with costs they cannot bear – recent inflation, caused to a large degree by the rise in […]

Will Truss Give It All to the Top 0.01%?

Truss has launched her so-called ‘plan for growth.’ History shows that the likely impact of that plan is to redistribute wealth upwards at an increasing rate, impoverishing most of the UK population. The post-war period 1945-1980 was known as the Golden Age of Capitalism; the period from 1980-2015 was the age of Market Capitalism. The […]

How Not to Handle Inflation

The UK now has high inflation both by international and historical standards.  And it is causing a serious cost-of-living crisis which our government needs to address. This article looks at why there is a serious risk of mis-handling inflation in the UK. If you wanted to mishandle inflation, you would: Treat it as a single, […]

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