Browsing All posts tagged under »Government«

The Economic Issues Raised by Possible Scottish Independence

July 18, 2011


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 […]

Why A Slower Pace of Government Deficit Reduction Isn’t a Big Problem

October 18, 2010


With the unequivocal manner in which some UK Coalition Government have been speaking recently, people might be forgiven for thinking that the pace of government deficit reduction set out by George Osborne in the 10th June 2010 emergency budget had instead been handed-down to him by God at Mt Sinai.  However, as noted at a […]

Why We Need The Recession

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 […]

An Itemised Receipt from The UK Government to the Taxpayer

October 1, 2010


With many thanks to the Daily Dish in the US for providing the inspiration, Mehdi Hasan at the New Statesman magazine for bringing it to my attention, and and for the data, I present below a breakdown of UK central government and local authority spending for 2010 on a per-taxpayer basis: A Receipt […]

The Partial Success and Unintended Consequences of Quantitative Easing

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 […]

Record UK Bank Write-offs of Personal Debt

September 1, 2010


The Times, Bloomberg and the Daily Mail have all reported this morning on news released yesterday by the Bank of England showing that, in the words of the Daily Mail: “Between April and June banks and building societies were forced to ‘write off ‘ £3.5bn, around £40m every day, the largest amount since records began.” […]