Tag Archives: george osborne

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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Your thoughts on Osborne’s Autumn Statement

 

Before George Osborne steps up to the dispatch box today we already know which Government departments will be protected from the cuts and which will have to take the brunt. The Tories have pledged to protect the NHS, education, defence, pensions and foreign aid, so that leaves vulnerable the police, local government (and just think of the huge number of services they provide), social care, further education (apparently not considered ‘real’ education), renewable energy and, of course, welfare.

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Liblink: Tim Farron on the five things Lib Dems want to see in the Spending Review

 

Tim Farron has been writing today in the Huffington Post.

The simple fact is that nearly half of the cuts George Osborne will make aren’t necessary to get spending under control. Instead that are motivated by an ideological drive to shrink the state. That’s a big departure from the decisions Liberal Democrats took in Coalition.

He outlines the five things that he would like to see in the review:

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LibLink: Shirley Williams tells George Osborne that he has 10 days to save the NHS

 

Writing in the Guardian, Shirley Williams picks up the baton passed on by Nigel Crisp, the former chief executive of the NHS, who four years ago wrote about his experiences in his book 24 Hours to Save the NHS.

Shirley explains that many of the financial woes in the NHS have been inherited from past schemes:

For example, the number of funded places for young men and women training in this country as nurses was cut by 12% – 2,500 places – in 2012. The consequent shortage of newly qualified nurses has been filled by people recruited by employment agencies. The cost of agency staff is one of the main reasons for overspending by NHS trusts. In 2014/15, agency staff cost the NHS £1,770m, a year-on-year increase of 29%.

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Opinion: The impact of the Budget on students

 

George Gideon Osborne. Feared and distrusted by the left, the sensible and reasonable portions of his own party. And now he has given university students yet another reason to distrust him. In the Conservative majority budget issued on July 8 2015, the Chancellor introduced a barrage of attention-grabbing measures, many of which present disappointing news to youths – particularly university undergraduates.

The speculation that the first Tory budget since 1996 will be unforgiving for the young and the unemployed have, sadly, been realised. The National Living Wage (set to £7.20 by next April and £9 by 2020) is all very well for workers over 25, but will not apply to those under 25, who will still have to contend with a £6.50 minimum wage. This means that young people who have just left university will have to make their earnings stretch further to cover the rising cost of living that will result from a more robust economy, which will result from reduction in bank levies and cuts in corporation tax.

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Budget Live Blog as Osborne helps rich – but casts young and poor adrift.

Caron Lindsay 12:30 pm

“A budget for working people” says George Osborne. We’ll see.  I guess if you are a rich working person, maybe.

I’ve had an official hiding behind pillow for all budgets in the last five years. I need it more than ever today.

So, let the budget live blog kick-off.

The measures we do know about seem very much about giving to the rich and taking to the poor.

People struggling to get by, stuck in private rented accommodation, will find it hard to see Inheritance Tax thresholds being lifted to more than £1 million while their entitlements to tax credits are being limited.

It’s worth pointing out that those are exactly the sorts of measure that the Liberal Democrats spent the last five years stopping or at least limiting. Everything announced today would have been done by now if it hadn’t been for us.

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Recent Comments

  • User AvatarRoland 12th Feb - 10:20pm
    Junior doctors are highly intelligent people who have read the proposals for themselves & are not just listening to the BMA. If they think the...
  • User AvatarVictor Grayson 12th Feb - 9:34pm
    £22billion in foreign investment that is, sorry.
  • User AvatarVictor Grayson 12th Feb - 9:33pm
    @RC@petermartin2001-although figures are very difficult to dig out it would seem that the UK receives an average of £22 billion per month and invisible earnings...
  • User Avatarpetermartin2001 12th Feb - 9:19pm
    @ Victor Grayson, "what proportion of the monthly government borrowing requirement do you think is attributable to the balance of payments deficit ?" OK. Lets...
  • User AvatarCaron Lindsay 12th Feb - 9:02pm
    Ok, enough about housing now. We're supposed to be talking about conference.
  • User Avatarpetermartin2001 12th Feb - 8:58pm
    @RC @Victor Grayson. I'd say we are in some agreement on the difficulty in the attribution of causality. Nevertheless that's not to say there isn't...