Tag: Economy

£9.16bn borrowing...

doktorbuk Sat Jul 19, 2008 at 10:16:42 AM GMT Print-friendly version Facebook

Little wonder that Alistair Darling is quaffing drinks a little stiffer than usual. The economic storm is worsening, with borrowing now reaching levels not seen since 1946.

Times are tough. And political cowards could jack it all in, give the keys to No. 10 to the Tories, and laugh when they inherit such a mess...

...but this is a time for (Brownian?) courage, the leadership we were promised.

Government borrowing cannot be sustained at this level. Costs must be cut, axes must fall. Courage must come first. The leadership we expected from the start is missing, has been undone by short-term aims without long-term vision. If the predictions are correct, the economic storm will break just as borrowing increases as the "golden rules" on fiscal prudence (remember that?) are re-written. Dominos falling onto a house of cards...





The Golden Rule Is Broken

victory1945 Fri Jul 18, 2008 at 12:07:10 AM GMT Print-friendly version Facebook

HM Treasury will announce later today that "the Golden Rule," which states that the government should balance the books over the economic cycle, has been broken.



Heaven knows we're miserable now

Tom Harris MP Thu Jun 19, 2008 at 01:43:11 AM GMT Print-friendly version Facebook

I’ve been listening to the audiobook of Bill Bryson’s excellent “The Life and Times of the Thunderbolt Kid”, his autobiographical account of his early life in Iowa.



Saturday 24th May - LEAP Conference

doctordunc Mon May 12, 2008 at 10:51:04 PM GMT Print-friendly version Facebook

The first LEAP conference will take place, at Birkbeck College, London.  Book now to participate in essential discussions about economic policy.



Super Rich get richer

Curlew Sun Apr 27, 2008 at 10:21:12 AM GMT Print-friendly version Facebook

...under Labour



Tories get a kicking on economic competence

WillParbury Tue Apr 22, 2008 at 01:33:03 PM GMT Print-friendly version Facebook

The Tories are failing to win over the electorate on the crucial issue of the economy says Will Parbury



Affordable housing

Mark Wadsworth Wed Apr 09, 2008 at 11:22:25 AM GMT Print-friendly version Facebook

Excellent, if prices keep falling at 2.5% per month for a year or two, housing will be affordable again!



Growth? What growth?

Mark Wadsworth Fri Mar 28, 2008 at 10:31:23 PM GMT Print-friendly version Facebook

If you think about it for a bit and grind the numbers, real growth in the UK economy has only been about 1% a year for the last ten years.



Bank of England releases £5 billion of liquidity

rwendland Mon Mar 17, 2008 at 12:15:29 PM GMT Print-friendly version Facebook

Just heard on the BBC radio 4 11am news that the "Bank of England has injected £5 billion into the financial markets in a bid to restore stability ... dealers fear that the banking crisis in the USA will spread around the world". Looks like a whole new economic world might be starting today!




Northern Rock to be nationalised

rwendland Sun Feb 17, 2008 at 07:33:32 PM GMT Print-friendly version Facebook

Northern Rock logoGoldman Sachs has recommended that it was not in the taxpayers' interests for Northern Rock to be sold now.  Legislation will be introduced tomorrow to acquire the bank's shares and assets for "a period of temporary public ownership". Alistair Darling's statement appears to say the legislation will be a general power for twelve months to acquire institutions "in certain tightly defined circumstances", so is not limited to Northern Rock.




The Big Idea

pauldburgin Fri Feb 15, 2008 at 10:23:26 AM GMT Print-friendly version Facebook

How Labour needs a fresh initative in their 11th year in office.



London's Success Must Be For All Says Ken

London for Ken Wed Jan 23, 2008 at 04:14:27 PM GMT Print-friendly version Facebook

For the latest information on Ken Livingstone's re-election campaign visit: www.londonforken.co.uk



Tail Wagging the Dog

jusm Tue Oct 09, 2007 at 08:45:41 PM GMT Print-friendly version Facebook

The Pre Budget Report is the worst example I have ever seen of the opposition setting the agenda. If this continues voters will soon get sick of such opportunism and vote for the real thing which will mean a Tory Government.



Darling raises Inheritance Tax threshold to £700,000 for couples

NorthernMonkey Tue Oct 09, 2007 at 04:02:56 PM GMT Print-friendly version Facebook

EDIT: Having read more into this proposal, it's become apparent that this isn't actually copying the Tories - but it's something quite different. See my comment 3 for details.




New Europe ?

WillParbury Wed Sep 26, 2007 at 01:34:47 PM GMT Print-friendly version Facebook

Will Parbury looks at the eurozone economy



Threat to minimum wage in Northern Ireland

Belfast Tue Jul 24, 2007 at 10:41:46 PM GMT Print-friendly version Facebook

I do hope this is silly season journalism, but this evening the BBC Northern Ireland website reports:


 'Prime Minister Gordon Brown is considering plans which could see the minimum wage reduced in Northern Ireland, it is believed.




Budget 2007

MM Mon Mar 19, 2007 at 03:11:05 AM GMT Print-friendly version Facebook

Gordon Brown is presenting his 11th Budget on Wednesday.  What are we hoping that he will deliever?

What has Mr Brown achieved? (Assessment by the BBC's economics editor Evan Davis)
http://news.bbc.co.uk/1/hi/business/6459543.stm

Gordon Brown: A decade of Budgets
http://news.bbc.co.uk/1/hi/business/6442161.stm

The normally well informed Larry Elliott (Guardian Economics editor) basically gives the Budget in this mornings paper:

'Budget to give tax breaks for green homes'
http://politics.guardian.co.uk/economics/story/0,,2037235,00.html

So if these various leaks are true will it be enough to pacify Labour members?  Will a so-called 'Green Budget', increases in spending on Education and a possible cut in business corporation tax lead to a surge in the polls?

I just hope the Chancellor has something more up his sleeze on Wednesday afternoon.  He has produced some shocking performances in recent months i.e his conference speech and his pre-Budget report.  Let's hope this blog entry is correct:

Will Budget Day launch Gordon?
http://broganblog.dailymail.co.uk/2007/03/will_budget_day.html




Is it Brown trousers time in marginal constituencies?

alexanderbaker Fri Feb 23, 2007 at 11:12:55 AM GMT Print-friendly version Facebook

With the latest contender in the leadership election, Michael Meacher, claiming that New Labour has had it, with Frank Field suggesting the party needs to skip a generation to remain viable, and with the commentariat stating that MPs and CLPs in marginal consitutencies are becoming increasingly concerned that Brown won't be able to prevent a Tory victory at the next election, I wondered what the grass-roots actually thought about a Brown led Labour party?



Is this the beginning of the end for New Labour?

alexanderbaker Tue Jan 16, 2007 at 08:22:14 PM GMT Print-friendly version Facebook

Three terms in government, and the prospect of a fourth have been built on the back of a stable economy. Today's inflation announcement could now signal the start of the end for New Labour.



NHS waiting lists lowest ever - but will anyone believe us?

KevinMcKeever Fri Jan 05, 2007 at 04:31:57 PM GMT Print-friendly version Facebook

Today marks the lowest NHS waiting lists since records began - but does anyone believe it or care?



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