Tag Archives: george osborne

Even George Osborne’s Brexit black hole warning wasn’t high enough

George Osborne got a lot of stick back in June, when he warned that a Brexit vote would leave a “£30 billion black hole in (the) public finances”. Indeed, his warning resulted in his entire career being shunted into a siding. Crestfallen, he went off to Vietnam to let off steam with an M60 machine gun.

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Laws on Osborne v Duncan Smith

David Laws CoalitionI wrote here recently on the claim by Iain Duncan Smith that he had been unhappy with the extent of cuts that George Osborne was demanding from the welfare budget.

Some light has been thrown on this by David Laws’ book Coalition, written before IDS’s resignation but published since.

Largely it seems to confirm Duncan Smith’s position. Not that he is a welfare dove by any means – for example when a complete welfare freeze for 2012 was proposed, while inflation was running at 5 per cent (p102)

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Avoiding the Tory disaster in Education

 

Last week, as a governor, I spent my morning at my local primary school completing an annual return and reviewing our budget for the next financial year (as an accountant, I get all the fun jobs). The atmosphere was a strange one. As a school that has successfully fought off an attempt at academy conversion, the staff were deeply upset about the grand announcement from George Osborne, that all schools will become academies by 2020. Meanwhile, our excellent Local Education Authority advisor was clearly and understandably out of sorts having just been made effectively redundant.

The policy being pushed forward by the government is going to be a disaster for primary schools, and everyone working in the sector knows this. Quite simply, the size of primary schools prevents them from having the necessary infrastructure to make an academy structure feasible. The destruction of the Local Education Authority support network will do irreparable damage to our capacity to support primary leaders in their incredibly varied roles.

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David Laws on Marr: I want to expose how NHS chief was leant on to encourage debate on NHS funding

It’s the second week of David Laws’ coalition revelations serialised in the Mail on Sunday. This week we have him telling us that:

To take them in turn:

You have to wonder why we bought and publicised the £8bn figure, too. It’s all very well for David Laws to tell Andrew Marr today that Norman Lamb was always sceptical about it, but I seem to recalls making a massive thing about how we were the only party who was going to meet the £8bn request in full. If we knew that the figure was nonsense then, why on earth did we not say loudly and lay out the choices that the nation faced in a much more realistic way?

On Marr, David Laws emphasised how the Lib Dems helped IDS veto Treasury requests for further welfare cuts, confirming that Osborne saw it as a cash cow.There are problems with this analysis, though.  Danny Alexander seemed to be hand in glove with Osborne on a lot of this stuff, at one point calling people affected by the Bedroom Tax “bedroom blockers.” Also, a lot of the really awful ideas, from the rape clause to the capping at two children were IDS’s idea.

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George Osborne’s decisions are coming back to haunt him

Commenting on George Osborne’s planned spending cuts, Liberal Democrat Treasury Spokesperson Susan Kramer has said:

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Are we targeting the wrong deficit?

 

Keynes and his contemporaries did not share our present day casual attitude to the imbalances we see in international trade. The monthly, or quarterly, trade figures were a regular and prominent feature of our business news, at one time, but we have to look much harder to find those same figures now.

Keynes’s proposal that international trade be separated from domestic trade by the use of a separate international currency, the Bancor, formed part of the official British proposals at the 1944 Bretton Woods  conference  which set the international financial and monetary arrangements for the post war period. Unfortunately this was a step too far for the Americans at the time. The proposal, had it been adopted, would have penalised the surplus nations, making it less attractive for countries to run large export surpluses and would have encouraged the deficit nations to re-align their currencies to reduce their deficits.

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Vince Cable on “decaying” relationship with “bloody-minded” Osborne in government

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Recent Comments

  • User AvatarEdis Bevan 9th Dec - 1:21pm
    There are some serious and painful discussions we all need to go though here.... Been looking at some of these issues and would welcome comments...
  • User AvatarKatharine Pindar 9th Dec - 1:21pm
    Helen, I am so glad you have written this, as I have long felt we in Britain should not continue to look for more income...
  • User AvatarNick Baird 9th Dec - 1:18pm
    Ben - I understand the principle of what you are saying, but in practice would this help? Any employer is likely to want to see...
  • User AvatarNick Baird 9th Dec - 1:08pm
    The Steady State Economy is always going to be a tough sell when we have any like the current level of wealth inequality in our...
  • User AvatarRoland 9th Dec - 12:57pm
    By contrast, one European state, Germany has actively been pursuing economic growth by using immigration policies to halt population decline and fend off stasis Only...
  • User AvatarTom Papworth 9th Dec - 12:55pm
    Glenn, Economic expansion did not require war, genocide, imperialism, plunder and slavery. That is just a marxian myth. In fact,war, genocide, imperialism, plunder and slavery...