On 5th May 2011, the first time since devolution in July 1999, the Scottish National Party won a majority of seats in the Scottish Parliament at Holyrood. One of the key manifesto promises of the party is to hold a referendum on Scottish independence before 2016. While political commentators have begun discussing the potential political […]
March 28, 2011
While reading the Office for Budget Responsibility‘s United Kingdom Economic and Fiscal Outlook – March 2011 over the weekend (yes, I had that much fun), I noticed the chart below: It shows the difference between the current rate of UK inflation (CPI) and an estimate of inflation had sales taxes (VAT and excise duty on […]
October 15, 2010
While the thrust of this article is undoubtedly controversial, I feel that many people are forgetting that a recession is a normal part of the business cycle and the processes that take place during a recession are necessary to lay the groundwork for any recovery. Below are some of the key reasons why we need […]
September 29, 2010
The Bank of England’s Monetary Policy Committee (“MPC”) has maintained interest rates at current 0.5% level since March 2009 and its Asset Purchase Programme (a.k.a. quantitative easing) at £200bn since November 2009, the consensus amongst the committee members is now beginning to break down, creating uncertainty regarding the future direction of monetary policy. One member […]
September 21, 2010
When the Bank of England formally launched its quantitative easing program in March 2009, the minutes from the meeting stated that this policy mechanism would work by: stimulating the demand for corporate credit instruments [and] improve the supply of funds to the corporate sector. The purchases would also mean that the banking system would be […]
July 18, 2011
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