Tag Archives: investment spending

Same old Economic Orthodoxy

In 1997, the Labour Party inherited a balanced budget from the Tories and for well over ten years we had Gordon Brown telling us that he had got rid of the boom and bust cycle. By 2009 the deficit had ballooned to £171 billion, higher than during the recessions of the 1980s, the 1990s and even when the Labour party went to the IMF, cap in hand, in 1976 (another fine mess they got us into) put together.

Economic orthodoxy maintained by Labour and and the Tories for the last forty years or so ensures the same economic models: over reliance …

Posted in Op-eds | Also tagged | 55 Comments

Can the long-term decline in government investment spending be reversed?

Investment spending vs social security spendingIf actual government investment spending bore any relation to the amount of time politicians spent talking about it, Britain would surely have one of the highest rates of government investment in the world. In fact, for all the talk there are few signs of a reversal in one half of the most notable trend in Britain’s public finances over the last half century: the decline of government investment.

I say one half because there is another part of the trend, and it is the flip side of the same coin: the general trend of increasing spending on social security.

Posted in Op-eds | Also tagged | 25 Comments
Advert



Recent Comments

  • User AvatarKatharine Pindar 16th Dec - 1:45am
    Sorry, I mean of course 'a Liberal ' in his youth, he wasn't psychic too!
  • User AvatarKatharine Pindar 16th Dec - 1:41am
    Well, Peter, the absurdity was just not taken account of, it seems. Yet a shrewd friend of mine, a Lib Dem in his youth and...
  • User Avatarfrankie 15th Dec - 11:55pm
    But David I seem to remember you were a fan of Bevan's quote about rats. That was a man who through bitter experience knew what...
  • User AvatarDavid Becket 15th Dec - 10:52pm
    @ Martin Typo, not intended
  • User AvatarDavid Raw 15th Dec - 8:35pm
    I wish he was !!
  • User AvatarRichard Underhill 15th Dec - 8:26pm
    The cinema site in Tunbridge Wells has been cleared and covered with broken bricks. A new cinema cannot legally be built precisely where the previous...