Tag Archives: economy

Mark Pack

Nick Clegg trashes Liam Fox’s economic policy demands

By Mark Pack | Wed 2nd May 2012 - 9:55 am

During yesterday’s Radio 4 interview with Nick Clegg there was a feisty exchange over why so much time in the interview was being taken up with the details of when and to who Jeremy Hunt should next answer questions to about his conduct, rather than issues such as the state of the economy.

Certainly the media loves investigatory process stories. Not only the Clegg interview but the subsequent coverage of it neglected the economy, even though Clegg had some choice words to say about former minister Liam Fox:

Martha Kearney: Liam Fox recently accused the Liberal Democrats of being a brake on

…

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Simon Holbrook

Opinion: Vince for No.11 – for growth and investment

By Simon Holbrook | Mon 30th April 2012 - 11:54 am

Coming after several weeks of self-inflicted damage, the news that the UK economy has gone back into recession risks further undermining public confidence in the Government’s ability to deal with the problems the country faces.

Nick Clegg says the principles of the coalition’s economic strategy remain sound – repairing the public finances, reforming the financial system and rebalancing the economy – and I agree. The problem is that we are only making progress on the first one of these …

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Posted in Op-eds | Also tagged and | 9 Comments
Stephen Tall

Nick Clegg on the double-dip recession: “our answers are the right ones to repair the damage done”

By Stephen Tall | Wed 25th April 2012 - 1:45 pm

Nick Clegg spoke this morning to the Institute of Directors, shortly after the announcement that the Office of National Statistics estimates that the economy contracted by 0.2% in the first three months of 2012 — a second quarter of shrinkage that officially means the UK is once again in recession. Here’s what he had to say:

As you may have heard, the first set of GDP figures for this year have just been released. And so, if I may, I would like to start by addressing what is disappointing news. The ONS’s preliminary estimate for Q1 GDP has

…

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Joe Bourke

Opinion: Getting radical with the money supply

By Joe Bourke | Tue 3rd April 2012 - 1:34 pm

Last week the OECD forecast that Britain was about to experience a double-dip recession, for the first time since 1975. Vince Cable in his Centreforum paper Moving from the financial crisis to sustainable growth asks “How far should monetary policy now be expanded further in the UK to boost demand and head off a period of poor growth?

He goes on to say “There is no possibility for further meaningful interest rate cuts – real short term rates are now minus 4 percent. That means further recourse to quantitative easing.

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Lorely Burt

Lorely Burt MP writes… Freelancers: championing and protecting the little guy

By Lorely Burt | Thu 29th March 2012 - 6:54 pm

You don’t need me to tell you that things are tough out there for small businesses. I know: having run several small businesses and having previously been our party’s Small Business spokesperson. The UK’s 4.5 million Small and Medium Enterprises (SMEs) make a huge contribution to our economy, but today they are caught in a perfect storm between contracting markets, a failure of banks to lend, and late payments.  The result of these problems is that many viable small businesses have sadly failed.

There is however one sector of small business that is growing. Over the last three years we have …

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Joe Bourke

Opinion: Building an economic recovery

By Joe Bourke | Wed 28th March 2012 - 2:56 pm

Two issues on which there appears to be virtual universal consensus across the political spectrum are  the pressing need to address the UK‘s housing problems and the economic benefits of a rejuvenated construction sector. The lack of adequate affordable and social housing has been a major weakness of the UK economy and social fabric for many years.

This problem has manifested itself in seriously overpriced housing costs relative to incomes, soaring housing benefit expenditures, uncompetitive labour costs and inter-generational inequity.

The Centreforum report Delivering growth while reducing deficits – lessons from the 1930s  highlights the major part that house building played …

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Ben Norman

The Independent View: Budget lifts a million people out of Income Tax

By Ben Norman | Wed 21st March 2012 - 7:33 pm

The news that the UK’s February borrowing figures were the worst on record did not exactly provide the Budget mood music the Chancellor was hoping for. Then again, the stark reminder that the UK is living well beyond its means serves to buttress his arguments about the need to control spending. There is no money to spend, and even with the current deficit-cutting fervour from Number 11 the UK remains at the whim of global bond markets.

So how did George do? The stamp-duty increase on homes worth more than £2 million is eminently sensible, but must be accompanied by the …

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Posted in Op-eds and The Independent View | Also tagged and | 21 Comments
Joe Bourke

Opinion: Jobs and the economy must feature in Brian Paddick’s mayoral campaign

By Joe Bourke | Wed 21st March 2012 - 3:55 pm

Last weekend, in common with many Team London activists, I was out delivering literature for the upcoming mayoral election.

In a recent Ipsos MORI poll, commissioned by BBC London, some 59% of respondents cited jobs; growth and the economy as the most important issues that Londoners say will help them decide who to vote for in the upcoming mayoral election. This chimes with my own experience of feedback on the doorstep.

Tackling crime (49%), improving public transport (38%) and building cheap homes (37%) were the other top issues.

During the 2008 election, our candidate Brian Paddick, polled a little less than 10% of …

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Michael Moore

Michael Moore MP’s Westminster Notes

By Michael Moore | Wed 21st March 2012 - 10:55 am

Secretary of State for Scotland Michael Moore MP writes a weekly column for newspapers in his constituency. Here’s the latest edition.

The Economy

 The economy remains the most important concern for people in my constituency and last week’s employment figures were a reminder of the challenging economic climate and that getting people into work is the UK Government’s first priority for Scotland.

We are doing all we can to get people working by laying the foundations for more sustainable growth and creating the conditions for businesses to invest in good quality jobs. By reducing corporation tax and making tough decisions on public spending …

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Mark Pack

Plan C: The Social Liberal Forum’s economic prognosis

By Mark Pack | Tue 13th March 2012 - 10:50 am

There has been a very welcome recent revival of policy thinking in the Liberal Democrats, despite the large cuts to the party’s official policy research staff. This has included a new think tank (Liberal Insight) and good work by Richard Kemp and the local government sector in encouraging imaginative plans for making use of the new legal powers going to local government.

Added to this is the Social Liberal Forum’s further foray into economic policy-making, following up on some of their successful events with their first policy pamphlet. Prateek Buch’s “Plan C – social liberal approaches to a fair, …

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Paul Walter

LibLink: Simon Hughes – The rich must be made to pay their share

By Paul Walter | Mon 12th March 2012 - 3:24 pm

In the Independent on Sunday, Simon Hughes writes:

Our economy will never recover if we continue to allow a privileged few to squirrel away increasing amounts of money into tax havens. But allowing people to take home more of what they earn both alleviates the squeeze on households and can boost spending where it is needed – on the high street, and in the community – creating demand and jobs.

We have already made great progress on making the tax system fairer. We have raised the rate of capital gains tax to 28 per cent, ending the scandal whereby people paid

…

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Joe Bourke

Opinion: Job Guarantees – an economic stimulus worth considering?

By Joe Bourke | Thu 1st March 2012 - 5:56 pm

India introduced a job guarantee programme, for the rural poor in 2005. It was dismissed by many as fiscal folly. Yet this developing country has weathered the financial storms of the economic downturn far better than most European countries. Argentina ran a successful programme in the wake of their debt default and Canada has had a good experience with such programmes.

Job guarantee as an economic policy builds on the concept of employer of last resort. The policy requires that the public sector offers a fixed wage job to anyone willing and able to work. The job pool expands when private …

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Posted in Op-eds | 26 Comments
Bill le Breton

Opinion: Pick your horse in the grand recovery stakes

By Bill le Breton | Thu 16th February 2012 - 4:28 pm

Moody’s, the US credit ratings agency, has put the UK on negative outlook, threatening the country’s triple A status. This came the day after three other organizations had also made their views known.

The CBI predicted that the UK would avoid a double-dip recession, the services firm BDO published the results of a survey suggesting turnovers were continuing to fall and the Chartered Institute of Personnel and Development reported that employers were more likely to lay off staff.

It is now four and a half years since the uncertainty of the credit worthiness of banks and hedge funds that were …

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David Thorpe

Opinion: Labour’s embracing of economic liberalism is to be welcomed

By David Thorpe | Thu 9th February 2012 - 9:28 am

The first sign that man is moving from the reckless abandon of late youth to the windswept comfort of early maturity can be found in his reaction to the sight of falling snow. Where once it would have been an excuse to declare the days schedule defunct, this year it signalled only the onset of boredom.

Consequently I dusted down my new year’s resolution to ‘laugh a lot more’ and began thinking about Labour’s attitude to economics. I propose to look at the Labour leadership’s deeper economic instincts to provide a guide as to how they might actually run the economy.

Ed Balls

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Nick T

The IFS’s verdict on Labour’s deficit argument is in – and it ain’t pretty

By Nick T | Thu 2nd February 2012 - 3:54 pm

Yesterday saw the publication by the Institute for Fiscal Studies of its annual ‘Green Budget‘, which looks generally at the global and UK economic picture as well providing a detailed analysis of the UK fiscal position. The document is fascinating in many respects, but one of the parts that particularly caught my eye was its devastating take on Labour’s position on the deficit.

Since the Autumn Statement, when figures for the estimated size of the budget deficit in future years were revised upwards, one of Labour’s main arguments has been that by cutting “too far, too fast” the government has …

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Paul Reynolds

Opinion: No economic growth? Here’s what to do

By Paul Reynolds | Thu 2nd February 2012 - 12:57 pm

To summarise the current UK position, ‘demand management’ is out (no money left and anyway it didn’t work), so growth must come from supply-side measures (excluding subsidies or protectionism), and from ‘natural’ private sector growth (born of financial stability and debt reduction).

With the peculiar separation in the UK which has evolved between the ‘real economy’ and the civil service, media & political elites, this has left the political system scratching its head over how to achieve ‘fiscally sustainable quality growth’. The result has been a series of ad-hoc programmes – some designed to substitute for an ailing banking sector (growth funds, loan guarantees), some …

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Posted in Op-eds | 5 Comments
Bill le Breton

Opinion: 29 Days to save the UK

By Bill le Breton | Wed 1st February 2012 - 6:55 pm

We are lucky it is a leap year. It gives us an extra day to save the country.

Here are two graphs, both from the Financial Times. This one shows the UK’s Nominal Gross Domestic Product. It shows the development of the double dip recession we are facing.

The figures are up to October 2011. The next will be published in February, but expect the trend lines to continue ‘south’.

Then, here’s a chart of a measure of the supply of money in the economy. It is a broad …

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Posted in Op-eds | Also tagged and | 19 Comments
Stephen Tall

LDVideo: Danny Alexander on the Coalition’s economic record

By Stephen Tall | Thu 26th January 2012 - 10:10 pm

Lib Dem chief secretary to the treasury Danny Alexander was grilled by BBC Newsnight’s Jeremy Paxman on Wednesday night about the UK’s negative growth figures — here’s what Danny had to say about the Coalition’s economic strategy:

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Paul Walter

PMQs: The importance of Doncaster, almost to the exclusion of everything else

By Paul Walter | Thu 26th January 2012 - 12:56 pm

At Prime Minister’s Questions yesterday, David Cameron and Ed Miliband first clashed on the subject of economic growth (or, indeed, contraction). That entanglement was, more or less, a score draw. But Ed Miliband was much stronger during a later exchange on the NHS reform bill, culminating with this belter:

I shall tell the Prime Minister what is happening in the NHS: waiting lists up, morale down. What does the majority-Conservative Select Committee on Health say about his reorganisation? It says that it will be a “disruption and distraction that hinders the ability of organisations to” release savings.

Let us be frank: this

…

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Mark Pack

Andrew Marr bids for record-breaking number of different topics in one interview

By Mark Pack | Sun 22nd January 2012 - 11:15 am

I wonder if somewhere deep in the BBC there is a target for how many different topics must be asked about in political interviews each month and someone woke up this morning to realise that January’s quota is about to be missed. Or perhaps there was a typo in Andrew Marr’s contract and his BBC salary is based on number of topics covered rather than number of minutes of screentime filled.

Whatever the reason, this morning’s interview with Nick Clegg saw a helter skelter tour around a huge number of topics, making for a  comprehensive tour of current political issues but …

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Chris Nicholson

Opinion: Is a “John Lewis economy” a liberal economy?

By Chris Nicholson | Sun 22nd January 2012 - 10:50 am

Nick Clegg hit the headlines last Monday in a speech at a CentreForum/City of London event calling for a “John Lewis economy” . John Lewis is employee owned where employees get a bonus each year depending on the performance of the group. Last year  this led to every employee getting an 18% bonus on their salary. But they do not hold individual shares in the company and so do not have the associated direct potential of building up substantial asset ownership .

I, along with most liberals judging by the reaction on Lib Dem Voice, warmly welcomed the substance …

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Posted in Op-eds | Also tagged , and | 8 Comments
Paul Walter

PMQs: Miliband hoist by his Balls’ petard

By Paul Walter | Thu 19th January 2012 - 8:24 am

Let’s start with what Ed Balls, Labour’s Shadow Chancellor said in the Guardian on January 14th:

My starting point is, I am afraid, we are going to have keep all these cuts. There is a big squeeze happening on budgets across the piece. The squeeze on defence spending, for instance, is £15bn by 2015. We are going to have to start from that being the baseline. At this stage, we can make no commitments to reverse any of that, on spending or on tax. So I am being absolutely clear about that.

So, it was something of a surprise when Ed …

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Tom Frostick

Opinion on Nick Clegg’s speech today: Employee share ownership is classic liberalism

By Tom Frostick | Mon 16th January 2012 - 2:24 pm

Last week David Cameron and Ed Miliband both sounded their commitment to tackling excessive payouts in the financial sector. Today was Nick Clegg’s turn. The speech he delivered to CentreForum and the City of London this morning was all about ‘responsible capitalism’ and ‘unlocking shareholder power’.

He talked about vested interests in the British economy and the need to shine a light on boardroom practices. He also expressed a desire to see wider employee share ownership – trust in people, rather than the “interventionist state” – and the move towards a “John Lewis economy”. Clegg said:

recognise that narrowing wage

…

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Posted in Op-eds | Also tagged | 26 Comments
NewsHound

LibLink: David Laws – Reasons to be cheerful in 2012

By NewsHound | Mon 16th January 2012 - 11:54 am

In the Daily Mail, David Laws gives readers a tour d’horizon of the economy, ending with some optimisim:

The first good news is that inflation should fall – and steeply. Last year, inflation rose because of higher energy and food prices, and the rise in VAT.

Most of those increases are behind us – last week, energy price cuts of five per cent were trumpeted. Inflation, which peaked last year at 5.6 per cent (retail prices), should be down to about 2.5 per cent by May.

That will help hard-pressed household budgets.

The second piece of good news is that

…

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NewsHound

Clegg sets out vision of “John Lewis economy”

By NewsHound | Mon 16th January 2012 - 11:36 am

The BBC reports:

Deputy Prime Minister Nick Clegg has urged more companies to offer shares to their employees, saying it will improve productivity and unlock growth.

He told an audience in the City that the government planned to cut red tape, and reform the tax system to accommodate employee ownership.

It is hoped the measures will create what he called a “John Lewis economy”.

…The Lib Dem leader told the event hosted by the City of London Corporation and Centre Forum think tank: “We don’t believe our problem is too much capitalism – we think it’s that too few people

…

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Stephen Tall

‘There but for the grace of…’ A couple of things Lib Dems should consider before joining the attacks on Ed Balls

By Stephen Tall | Mon 16th January 2012 - 7:55 am

Tempting though the schadenfreude is, I think Lib Dems would be wise not to enjoy too much Labour’s discomfort at Ed Balls’ decision to declare Labour cannot promise to reverse any of the Coalition’s cuts.

I can of course entirely understand the urge to shout ‘Ha! Told you so’ at the shadow chancellor. In an interview for The Guardian published on Saturday, Mr Balls stated categorically:

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Posted in Op-eds | Also tagged and | 30 Comments
Mark Valladares

Joint Statement: European Liberal Democrat Leaders Meeting

By Mark Valladares | Tue 10th January 2012 - 8:23 am

Leading Government Ministers, Party Leaders and European Commissioners from Liberal Democratic parties across Europe, meeting in London at the invitation of Deputy Prime Minister and Liberal Democrat Leader Nick Clegg, and under the aegis of the European Liberal Democrat and Reform party (ELDR), yesterday made the following declaration.

Jobs, Growth & Reform

Europe is at a dangerous crossroads. Without decisive and concrete action, we risk recession, rising unemployment and falling living standards. There is a real risk of Europe turning inwards, with a return to the protectionist policies of the past. Our ability to prevent this now depends on our …

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Posted in Europe / International and News | Also tagged and | 6 Comments
Mark Pack

The Liberal Democrat challenges for 2012: The Budget

By Mark Pack | Tue 3rd January 2012 - 8:50 am

To mark the start of 2012, we’re running a series of posts over consecutive days on the main challenges for the Liberal Democrats in 2012. I’ve already written about the four priorities for the party’s new Chief Executive, Tim Gordon, but as the Liberal Democrats are more than just the one man whilst he has four, this series sets out six for the party.

Political pundits rarely get their predictions right. It isn’t that they are particularly bad at punditry, it is just that – as research has shown across several fields – experts generally have a pretty poor predictive record. One prediction, however, that is rather safer than leaving your chocolate in my safe-keeping is that the economy will continue to be the dominant political issue.

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Mark Pack

For once, some good news about the European economies

By Mark Pack | Sun 18th December 2011 - 9:55 am

Good news about the economic situation across Europe has been in short supply recently, but there has been one piece of good news this week. One which, moreover, shows politicians learning the lessons from the 1930s (although quite what some of the right lessons are is a somewhat controversial topic).

In the 1930s, depression caused countries to sink into rounds of beggar my neighbour protectionism, putting up barriers to trade in vain attempts to protect domestic economies but which only ended up dragging everyone further down.

This time round, not only is protectionism not on the march in the same way, …

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Posted in Europe / International and News | Also tagged and | 3 Comments
Stephen Tall

What Lib Dem members think of George Osborne’s autumn statement (and the two measures they oppose)

By Stephen Tall | Wed 14th December 2011 - 4:45 pm

Lib Dem Voice has polled our members-only forum to discover what Lib Dem members think of various political issues, the Coalition, and the performance of key party figures. Some 550 party members responded, and we’re currently publishing the full results.

Lib Dem members give thumbs-up (mostly) to Osborne’s autumn statement

Two weeks ago, the Chancellor George Osborne updated MPs on the state of the economy and the government’s future plans in his Autumn Statement as the Office for Budget Responsibility published its latest growth and borrowing forecasts.

LDV asked: Do you support or oppose the following policies announced by the Chancellor? …

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Posted in LDV Members poll | Also tagged | 17 Comments
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