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....”. The government committed in 2013 to continue increasing the state pension age in line with life expectancy, to prevent the costs swallowing up a growing share of public spending. ... [Read full article on Guardian ]
Wednesday 19th of July 2017 01:44:22 PM
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....On the other hand, voters seem to want more police to fight crime, more money for the emergency services after their heroics this summer, extra investment in the NHS and no cuts in funding for schools. If Hammond is to find money for higher public spending without increasing borrowing, he will either have to ditch government plans to reduce personal and corporate taxes or find new sources of revenue. ... [Read full article on Guardian ]
Sunday 23rd of July 2017 12:35:11 PM
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....“Unless there is a sensible public debate over the UK’s fiscal challenges, the government will face an uphill task in providing a coherent response to deliver sustainable public finances,” he said. But John Hawksworth, PricewaterhouseCoopers’ chief economist, said the chancellor would still have room for increases in public spending in the budget. ... [Read full article on Guardian ]
Friday 21st of July 2017 11:29:19 AM
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.... The market test is crucial to Greece for not only judging sentiment of the market, from which it has been essentially exiled since the start of its economic crisis, but also for weaning itself off borrowed bailout funds. Speaking after the bond issue was announced, the EU’s economy commissioner, Pierre Moscovici, described the public spending cuts imposed on Greece since it almost went bust as “too tough” but “necessary”, adding there was now “light at the end of austerity”. ... [Read full article on Guardian ]
Monday 24th of July 2017 02:18:12 PM
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Latest Finance News related to Public Spending

Greece plans return to bond market as Athens sees end in sight to austerity image
.... The market test is crucial to Greece for not only judging sentiment of the market, from which it has been essentially exiled since the start of its economic crisis, but also for weaning itself off borrowed bailout funds. Speaking after the bond issue was announced, the EU’s economy commissioner, Pierre Moscovici, described the public spending cuts imposed on Greece since it almost went bust as “too tough” but “necessary”, adding there was now “light at the end of austerity”. ...
While Hammond looks for a magic money tree, Labour has found one | Larry Elliott image
....On the other hand, voters seem to want more police to fight crime, more money for the emergency services after their heroics this summer, extra investment in the NHS and no cuts in funding for schools. If Hammond is to find money for higher public spending without increasing borrowing, he will either have to ditch government plans to reduce personal and corporate taxes or find new sources of revenue. ...
Budget deficit leaps as Brexit-fuelled inflation troubles Hammond image
Source : Guardian [Read Article] Friday 21st of July 2017 11:29:19 AM
....“Unless there is a sensible public debate over the UK’s fiscal challenges, the government will face an uphill task in providing a coherent response to deliver sustainable public finances,” he said. But John Hawksworth, PricewaterhouseCoopers’ chief economist, said the chancellor would still have room for increases in public spending in the budget. ...
State pension age to increase seven years earlier than planned image
Source : Guardian [Read Article] Wednesday 19th of July 2017 01:44:22 PM
....”. The government committed in 2013 to continue increasing the state pension age in line with life expectancy, to prevent the costs swallowing up a growing share of public spending. ...
The Guardian view on the 1%: all gain, no pain | Editorial image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:59:34 PM
.... Remember the recession was caused by the financial sector’s innovations – the excessive leverage; the perverse incentives; the fraudulent promotion of risky products as safe – and its promotion that greed was the ultimate good. While public spending as a proportion of GDP might be roughly constant since the crash, the country’s needs are higher, so there’s a feeling of less to go round. ...
British companies must have voices heard on Brexit, says MP image
Source : Guardian [Read Article] Friday 14th of July 2017 05:26:11 PM
....She said on Friday she would like to broaden the scope of the role, telling the BBC she wants to look “at the wider Treasury remit”. “We want to look at the management of the economy, public spending decisions. ...
Chancellor needs to find an extra £33bn a year to end austerity, says IFS image
....Philip Hammond would need to spend an extra £33bn a year to “end austerity” according to a leading tax and spending watchdog. The Institute for Fiscal Studies (IFS) said the chancellor could use his autumn budget to reverse major cuts scheduled to hit public spending and still keep the government’s spending deficit at 2. ...
Renewable power critic is chosen to head energy price review image
Source : Guardian [Read Article] Wednesday 12th of July 2017 11:47:05 AM
....Helm is also a strong critic of the cost of nuclear power, saying that just to get to the “starting line” of building a new atomic power station in the UK involves a “lengthy, complex and expensive process”. He has also questioned whether any more new nuclear power plants will be built in the UK after Hinkley Point C in Somerset, which the public spending watchdog recently described as a “risky and expensive project”. ...
Grace is 25. Her student debt: £69,000 image
Source : Guardian [Read Article] Tuesday 11th of July 2017 06:14:02 AM
....Barr argues fees are too high, and the government should bring back some of the teaching grant for universities so that the cap can be reduced. He points out that part of the reason for switching most of the funding to loans was “a cheap accounting trick to reduce measured public spending”. ...
The UK economy must take a long, hard look at itself | Larry Elliott image
....Halfway through the 2010 parliament, David Cameron and George Osborne had a problem. They had arrived in office promising a different economic model that would be less dependent on private and public debt, and the result was that taxes were raised and public spending was cut to rid Britain of its budgetary incontinence. ...
In other circumstances, we’d raise rates. But with Brexit looming, how can we? image
.... Gordon Brown, being a good Keynesian, had promised to end boom and bust. To this end, he opened the public spending taps and gave the economy a modest boost. ...
Hinkley Point C: UK censured for failing to consult German public image
Source : Guardian [Read Article] Thursday 6th of July 2017 02:27:49 PM
....EDF, the French state-owned developer of Hinkley Point C, admitted this week that costs were likely to rise by £1. 5bn and there was a risk of a 15-month delay, just days after the public spending watchdog called the project “risky and expensive”. ...
Theresa May defends public sector pay cap under pressure from Labour image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:23:29 PM
.... That does not help nurses or patients,” she said. Comparisons with Greece were repeatedly used by George Osborne in 2010 to justify public spending cuts, as riots erupted on the streets of Athens over the stringent bailout conditions imposed by the International Monetary Fund and the eurozone. ...
Public sector pay cap is matter for future budgets, says Grayling image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:56:11 AM
.... On Monday, he urged his party to “hold its nerve”, arguing that borrowing piles debt on to the next generation. He has said growth was the only sustainable way to boost public spending in the long run, although sources suggest he is ready to talk about ways to raise money to loosen the ties of austerity over the coming months. ...
Hammond says UK must 'hold nerve' over public pay image
Source : BBC [Read Article] Tuesday 4th of July 2017 06:45:30 AM
....Rises of 1% for dentists, nurses, doctors and the military have already been agreed for this year and No 10 said ministers would respond to pay review bodies in due course. Nigel Lawson, a former chancellor to Margaret Thatcher, said it was Mr Hammond's job to keep control of public spending to avoid "economic disaster". ...
Hinkley Point C is £1.5bn over budget and a year behind schedule, EDF admits image
....In 2007, De Rivaz predicted that by Christmas in 2017, turkeys would be cooked using atomic power from new reactors at Hinkley. The latest bad news about the plant came just over a week after the public spending watchdog condemned the government for locking consumers into an “expensive and risky” project by signing a subsidy deal guaranteeing a set price for power from the reactors. ...
Bureaucratic block image
Source : BBC [Read Article] Sunday 2nd of July 2017 11:13:32 PM
.... . It should be possible to arrange taxes and public spending to compensate the losers. ...
Household income falling at fastest rate since 1976 as UK savings rates crash image
....4% in the fourth quarter. The only recent parallel for such a prolonged squeeze occurred four decades ago, when a combination of a sterling crisis, pay restraint and public spending cuts agreed with the IMF resulted in real household income falling by around 6% between the fourth quarter of 1976 and the second quarter of 1977. ...
Online fraud 'overlooked' by government says watchdog image
Source : BBC [Read Article] Thursday 29th of June 2017 11:01:37 PM
. Online fraud has been "overlooked" by the government, police and business, according to public spending watchdog the National Audit Office. ...
Jeremy Corbyn sacks three frontbenchers over single market vote image
Source : BBC [Read Article] Thursday 29th of June 2017 09:33:48 PM
.... . It called for Brexit to deliver the "exact same benefits" as the EU single market and customs union, as well as scrapping tuition fees, increasing public spending and ending the public sector pay cap. ...
Consumer confidence collapsed after general election, YouGov finds image
Source : Guardian [Read Article] Monday 26th of June 2017 11:05:13 PM
....Soon afterwards the Bank of England to cut the base interest rate to its lowest ever level of 0. 25% and the government signalled a relaxation of its plans for further cuts to public spending. ...
UK budget deficit to increase this year amid living standards squeeze image
Source : Guardian [Read Article] Wednesday 21st of June 2017 10:49:47 AM
.... As a result, and in order to deliver credible fiscal plans, it’s important that government puts strong financial leadership at the top of its priority list,” he said. “There have been signals from government that we are likely to see an end to austerity and therefore a possible increase in public spending. ...
Philip Hammond hints government will ease up on austerity image
Source : Guardian [Read Article] Sunday 18th of June 2017 09:51:43 AM
....But he also insisted that, with the deficit still at 2. 5% of GDP, government borrowing was “not sustainable in the long term” and he left open the possibility of raising taxes to fund more generous public spending. ...
Our leaders have lost touch with reality – just like the banks did | Aditya Chakrabortty image
....Yet talk to the people around the Labour leadership about how a dead-cert race turned into a hung parliament, and the theme that keeps coming up is the party’s anti-austerity platform. Slashed public spending, falling living standards, a “national” recovery really felt only in London and the home counties: such issues barely ever feature in the political class discourse, yet they shape our politics. ...
Theresa May's election victory will prove pyrrhic indeed image
Source : Guardian [Read Article] Sunday 11th of June 2017 01:25:35 PM
.... Political uncertainty has given businesses another reason to defer investment decisions. Yet the anti-austerity mood and the distinct possibility that there will be a second election before too long suggests that there will be more public spending to boost growth. ...
Election 2017: Investors unnerved by economic uncertainty image
Source : BBC [Read Article] Friday 9th of June 2017 05:09:50 AM
....Sir Vince is returning to the Commons after regaining the seat of Twickenham in southwest London for the Liberal Democrats. Domestically, some commentators are suggesting that the Conservative government's long-running austerity programme, which has seen public spending constrained in a bid to cut UK debt, may be over. ...
Britain’s economic model is broken: this is our first post-crash election | Aditya Chakrabortty image
....It takes decades for an ideology to die – but among the power elites of London, you can finally see it happening. What the cultural theorist Jeremy Gilbert calls “The Long 90s” – the decade and a half that began with the fall of the Berlin Wall and ended with the collapse of RBS – – and that spanned Tony Blair, The Fast Show, garden decking, golden rules for public spending and an ever-growing finance sector – is coming to a close. ...
This election ignores the most pressing issue: our economic outlook is disastrous | Laura Gardiner image
.... You can question whether their sums will add up and what will happen if they don’t, but we should credit their candidness in being up front on tax rises, something that chancellors have tended to tell voters about only after elections have taken place. Despite these shifts, there is an ocean of clear water between the Labour and Conservative views on levels of public spending and how they should change. ...
IFS makes damning assessment of Tory and Labour manifestos image
Source : Guardian [Read Article] Friday 26th of May 2017 08:37:33 AM
....Emmerson dismissed Theresa May’s plans to reduce benefits to the elderly by means testing the winter fuel payment and scrapping the pensions triple-lock as offering “wholly trivial” savings. And he said the manifesto U-turn over a cap on care costs would result in “presumably increasing public spending overall”. ...
If London subsidises the rest of the UK, where does that leave Scotland? | Nils Pratley image
....It hardly counts as news that the UK is really two economies but here are the hard numbers to demonstrate the point. London, the south-east and the east of England recorded net fiscal surpluses in 2016 – in order words, tax receipts exceeded public spending on a per-head basis. ...
London economy subsidises rest of UK, ONS figures show image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 10:26:10 AM
....5bn surplus that is recycled by the government to provide financial help to Britain’s less well-off regions, according to an official breakdown of the public finances. The first attempt by the Office for National Statistics to break down the UK’s budget deficit by region has demonstrated the importance of the capital and highlighted how taxes and public spending are used to narrow the north-south divide. ...
No bailout funds for Greece as eurozone finance chiefs fail to agree deal image
....The IMF continues to insist anything higher than a 1. 5% surplus is not credible: its officials are urging the eurozone to be realistic about Greece’s ability to keep a tight cap on public spending over decades. ...
Theresa May is creating an epidemic of poverty. Don’t give her a free hand | Gordon Brown image
....In 1974, when Edward Heath attempted a single-issue election, he put a simple question to the voters: “Who governs Britain?” The answer he got was equally simple: “Not you. ” Heath was reminded of an age-old lesson of politics: that British elections are always about jobs, the NHS, tax, public spending, fairness and security. ...
The German economy is unbalanced – but Trump has the wrong answer image
.... Extending investment tax credits to German firms might be more effective in boosting spending, but doing so would be politically problematic in a country where labor’s share of national income is already declining. Martin Schulz’s Social Democrats, on the other hand, favour raising public spending, by investing in infrastructure in particular. ...
Smirnoff owner Diageo to pay HMRC £107m in 'Google tax' crackdown image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:54:14 PM
....Last year Google agreed a deal with the British tax authorities to pay £130m in back taxes and increase its future tax burden. But the tax deal was criticised by parliament’s public spending watchdog for being secretive and “disproportionately small when compared with the size of Google’s business in the UK”. ...
Euro slips after Macron wins French presidency image
Source : BBC [Read Article] Sunday 7th of May 2017 09:50:10 PM
....The biggest of them is Germany. It is easy to portray integration as putting German taxpayers' money at risk to pay for irresponsible public spending policies in less prudent eurozone countries. ...
The Guardian view on the Bank of England: independence and accountability | Editorial image
.... Willem Buiter, one of the original interest-rate setters from 1997, says central banks should “stick to their knitting” and confine themselves to setting interest rates and acting as a lender of last resort. At the other end of the spectrum, Adair Turner has argued that in certain circumstances the government should instruct the Bank to print money for public spending or tax cuts. ...
UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS image
....It will take an extra £15bn of spending cuts or tax rises to eliminate the budget deficit by the time of the 2022 election, a leading thinktank has said as it laid bare the damaging legacy of the financial crisison UK living standards and public finances. The Institute for Fiscal Studies said that despite “two parliaments of pain”, the Conservative-led austerity drive had made little difference to public spending when measured as a share of national income and compared with pre-downturn levels. ...
German finance minister hails progress in Greek economic reforms image
Source : Guardian [Read Article] Sunday 30th of April 2017 04:21:39 PM
....Schäuble’s words of encouragement follow official figures in April showing that Greece managed to comfortably beat its creditors’ budget demands last year. In 2016 it posted a primary budget surplus – where government income exceeds expenditure once debt interest payments are excluded – mostly as a result of a higher tax take and cuts in public spending. ...
General election 2017: May says Tories would not raise VAT image
Source : BBC [Read Article] Sunday 30th of April 2017 09:26:03 AM
....Plaid Cymru leader Leanne Wood told the Sunday Politics show any Brexit plan that threatened Welsh jobs would be "extreme" and "unacceptable". Former SNP leader Alex Salmond said his party would provide "real opposition" to the Tories on public spending cuts. ...
Theresa May weighing up cheaper 'double lock' for pensions image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:00:47 PM
.... Senior Tories argue that the policy has become increasingly unaffordable, and that reform could be presented alongside a more generous system of funding social care for the elderly – a key concern for many older voters. Lord Willetts, the Conservative former cabinet minister, said: “If you look at any pictures of where public spending is going in the future, the protections for pensions are pushing up the share of public spending that is going on pensions, and then that means when resources are limited, other areas of spending will suffer. ...
The Guardian view on the IMF: a global institution in an age of protection | Editorial image
....The problem is that the policy response to these trends – including that of the IMF itself – has been inadequate. While the IMF’s macro-economic department has been urging a softer line on austerity, the teams sent in to sort out crisis countries have prescribed the same old medicine – cuts in wages and public spending, with a diminished role for collective bargaining. ...
The Ronald, the Donald – and a hamstrung Hammond image
Source : Guardian [Read Article] Sunday 19th of March 2017 06:59:01 AM
.... The US was in recession and unemployment and inflation were high. Reagan’s cabinet spent much of its time talking about tax cuts and a radical overhaul of corporate and labour laws to set business free, but, as Oxford Economics point out, they mostly switched on the public spending taps. ...
Tax credit 'rape clause' becomes law without parliamentary vote image
Source : Guardian [Read Article] Thursday 16th of March 2017 12:10:57 PM
.... The DWP announced in January that it was to go ahead after the consultation. The department has described the changes to tax credits as “a key part of controlling public spending”, and has pledged to implement the exemptions in “the most effective, compassionate way”. ...
Brazil's recession worst on record image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:00:14 PM
....Also there could be tailwinds from the global economy, with prices of commodities on the rise again and possible growth coming from the US. But much of Brazil's recovery still depend on whether government reforms in public spending are successful. ...
‘Housing should be seen as a human right. Not a commodity’ | Patrick Butler image
....But on the whole, governments have been “too deferential” in the rise of financialised housing, she says. Many subsidise it through tax breaks and bank bailouts, while simultaneously slashing public spending on social housing programmes. ...
We are unlikely to spot next financial crisis, Bank of England official says image
....Official figures have shown that, far from slowing, the UK became one of the best-performing economies in the developed world and the fastest growing in the G7 in the second half of 2016. Governor Mark Carney said actions by the Bank itself, which cut interest rates weeks after the Brexit vote, and Chancellor Philip Hammond, who lifted constraints on public spending in November’s autumn statement, had helped to boost the economy in the wake of the Brexit vote. ...
Calling the latest Greek deal a sticking plaster does disrespect to the Elastoplast image
....Rather than demanding reforms upfront before handing over another wodge of cash, Brussels is prepared to wait and see how the leftist Syriza government handles the next stage. Only when it has failed to reduce public spending will EU officials apply another financial squeeze. ...
Scotland needs publicly funded bank, says thinktank image
Source : Guardian [Read Article] Monday 6th of February 2017 07:00:20 AM
....The motion from an SNP branch in Angus near Dundee says leaving economic growth and environmental protection “solely in the hands of our private banking and financial sector will be detrimental to present and future living standards of our citizens”. Common Weal said its concerns were heightened after an investigation by the Guardian and the Ferret, an investigative website, revealed the Scottish government would lose about £932m in low-cost public borrowing because its private financing deals had broken EU rules on public spending. ...
UK inflation: now it's the pound in your pocket being devalued image
Source : Guardian [Read Article] Tuesday 17th of January 2017 12:25:44 PM
....It was 2011 and William Windsor had married Kate Middleton, adding some colour to a country still in shock from the financial crash. But the year was also characterised by public spending cuts, wage freezes, a crisis in Europe and riots across most of Britain’s major cities. ...
Five things economists can do to regain trust image
Source : Guardian [Read Article] Friday 6th of January 2017 11:49:04 AM
.... Rather than lambasting experts, Gove and his like would do well to shake up the UK education system so that people leave school better equipped to make their own judgments about economic forecasts, the financial system and the government’s tax and spending decisions. Financial education has become part of the secondary school curriculum in England and budgeting and public spending are now taught in citizenship. ...
Observer business agenda’s review of the year image
Source : Guardian [Read Article] Sunday 1st of January 2017 09:00:02 AM
....Somehow the judges overlooked the claims of the Leave campaign in June’s referendum for “We send the EU £350m a week: let’s fund our NHS instead” as well as its rivals in the Remain camp for all sorts of far-fetched plots in its entry, Project Fear. Pages from that tome included IMF boss Christine Lagarde’s “We have done our homework and we haven’t found anything positive to say about a Brexit vote”; JP Morgan chief Jamie Dimon’s warning he could cut 4,000 UK jobs if Britain voted to leave the EU; plus, of course, then chancellor George Osborne’s warning that he’d have to slash public spending and increase taxes in an emergency budget to tackle a £30bn “black hole”. ...
Five-minute guide to the rising cost of care homes image
Source : Daily Express [Read Article] Sunday 18th of December 2016 12:01:00 AM
....Just over one in four think they will be lucky enough to pick and choose the care services they need, without worrying about the cost. Many still believe the state should provide, the research shows, although the ageing population and continuing squeeze on public spending makes this unaffordable. ...
Scottish auditors to investigate £9bn private finance bill image
Source : Guardian [Read Article] Wednesday 14th of December 2016 07:00:19 AM
. Scotland’s public spending watchdogs are planning to investigate a multibillion-pound scheme to build privately funded roads, schools and hospitals after serious doubts emerged about its value for money. ...
Bermuda is world's worst corporate tax haven, says Oxfam image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:40 AM
....UK corporation tax is due to fall to 17% by 2020 from its current level of 20%, and the prime minister has suggested there could be further cuts to attract businesses. Oxfam warned that governments that cut corporate tax balance their books by reducing public spending or by raising taxes such as VAT that fall disproportionately on the poorest. ...
We need to rethink workers’ rights in today’s gig economy | Matthew Taylor image
Source : Guardian [Read Article] Wednesday 30th of November 2016 09:28:58 AM
.... If two people are doing the same task and earning the same basic remuneration on average earnings, the total tax paid to the state for the employee is about £2,000 a year more than for a self-employed contractor, or as much as £3,000 if they are working through their own company. Yet, apart from some particular entitlements such as paternity pay, the self-employed access exactly the same share of public spending per head as employees. ...
Of course the forecasts are bad: no one has a plan for Brexit image
Source : Guardian [Read Article] Sunday 27th of November 2016 07:00:54 AM
.... Thanks to the combined impact of the financial crisis and the austerity programme, the OBR had already revised downwards its estimates of the country’s productivity and the growth of productive potential; this revision took place between last November’s autumn statement and the March budget. Then came the referendum, and the net result of feverish work going on at the OBR since then is that the fallout from Brexit – indeed, from the very prospect of Brexit – is that the outlook for productivity growth has been revised downwards again, with all that this implies for living standards and the tax revenues that go to finance public spending. ...
Reality Check: image
Source : BBC [Read Article] Friday 25th of November 2016 04:05:27 PM
. The claim: The Office for Budget Responsibility forecasts include an extra £10bn each year from 2019-20 for public spending as a result of leaving the EU - this could be spent on the NHS. ...
Autumn Statement: Workers' pay growth prospects dreadful, says IFS image
Source : BBC [Read Article] Thursday 24th of November 2016 12:07:43 PM
...."While top earners were hit the hardest following the financial crisis, the big difference looking forward is that the biggest losers are lower income families, with the entire bottom third of the income distribution set to see incomes fall in the years ahead," the Foundation said. The Treasury's own analysis, published alongside the Autumn Statement, shows that the poorest 30% of households will see a negative impact on incomes from tax, welfare and public spending measures by 2019-20. ...
Brexit will blow £59bn hole in public finances, admits Hammond image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:39:09 PM
....“As we look ahead to the next parliament, we will need to ensure we tackle the challenges of rising longevity and fiscal sustainability,” Hammond said. “And so the government will review public spending priorities and other commitments for the next parliament in light of the evolving fiscal position at the next spending review. ...
Chancellor spreads giveaways thinly for Britain's 'Jams' image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 03:40:30 PM
....In one area, Hammond was curiously quiet. Pensioners, the bedrock of Conservative support, were barely mentioned, despite the fact that the state pension is a giant component of public spending. ...
How will the autumn statement change Britain? Our panel’s views | Matthew d’Ancona, Martin Kettle, Gaby Hinsliff, Aditya Chakrabortty and Polly Toynbee image
....Hammond’s other big problem is that the tax take is falling. All those references in his speech to sustaining the tax base are Treasury code for the fact that Britain has continued to become a low wage, tax avoiding and increasingly unequal economy since 2010, in which there’s not enough public money to pay for public spending. ...
Philip Hammond admits Brexit vote means £122bn extra borrowing image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 01:36:07 PM
....He added: “But as we look ahead to the next parliament, we will need to ensure that we tackle the challenges of rising longevity and fiscal sustainability. “So the government will review public spending priorities and other commitments for the next parliament in the light of the evolving fiscal position at the next spending review. ...
Donald Trump's economic policies could go badly wrong – but not soon enough image
Source : Guardian [Read Article] Saturday 19th of November 2016 04:04:24 PM
.... Tax cuts and spending increases will lead to bigger budget deficits – a doubling from 3% to 6% of GDP, according to independent estimates – and an increase in the national debt, which is already above 100% of national output. But Trump’s belief is that the tax cuts and additional public spending will lead to faster growth, and eventually an improvement rather than a deterioration in the US public finances. ...
UK investment in tech and transport among world's worst, says TUC image
Source : Guardian [Read Article] Wednesday 16th of November 2016 06:01:11 AM
....The EU referendum result has added to business concerns that the economy will slow next year and that investments in new equipment might be wasted. Hammond has played down the likelihood of extra public spending on new infrastructure projects, preferring to focus on tax allowances and other incentives to encourage business investment. ...
UK austerity policies 'amount to violations of disabled people's rights' image
Source : Guardian [Read Article] Monday 7th of November 2016 05:49:14 PM
....Austerity policies introduced into welfare and social care by the UK government amount to “systematic violations” of the rights of people with disabilities, a UN inquiry has concluded. It says a range of measures aimed at reducing public spending since 2010, including controversial changes such as the bedroom tax, and cuts to disability benefits and social care budgets have disproportionately and adversely affected disabled people. ...
The legacy of leaving old industrial Britain to rot is becoming clear | Larry Elliott image
....Labour had a different approach between 1997 and 2010. It took the tax receipts from asset-price booms in the south and recycled them into higher public spending in the north. ...
Economic woes create anti-establishment movements around the world image
Source : Guardian [Read Article] Saturday 5th of November 2016 04:00:51 PM
.... The International Monetary Fund warned recently that the economy may not fully recover until the mid-2020s. Scope for Matteo Renzi’s centre-left government to use tax cuts or increases in public spending to boost growth has been limited by low productivity, high unemployment and rising national debt. ...
HMRC chasing £1.9bn tax from UK's richest people image
Source : BBC [Read Article] Tuesday 1st of November 2016 02:11:03 AM
. HMRC is chasing almost £2bn that is potentially owed in taxes by the UK's richest people, according to the public spending watchdog. ...
Is government spending on roads and railways a good idea? image
Source : BBC [Read Article] Monday 3rd of October 2016 03:52:55 PM
....So what about improving the economic capacity of the economy, long term?. "It is possible to work out roughly what the right level of public spending is to sustain the growth of the economy and prevent bottlenecks," he says. ...
Yanis Varoufakis hits out at 'inept' George Osborne image
Source : BBC [Read Article] Wednesday 28th of September 2016 09:45:09 AM
....George Osborne will be remembered as a "particularly inept" chancellor whose pursuit of austerity in an attempt to rein in Britain's deficit was doomed to failure, according to Yanis Varoufakis. He told Radio 4's Today that Philip Hammond, Mr Osborne's successor, should change tack and raise public spending. ...
UK government borrowing falls in August image
Source : BBC [Read Article] Wednesday 21st of September 2016 08:58:40 AM
....Chancellor Philip Hammond has said he may have to reset fiscal policy to offset any negative outcome from the vote. However, he has dampened down talk that he might reveal an increase in public spending when he reveals his Autumn Statement in November. ...
Nama: Irish government to set up investigation into biggest ever NI property deal image
....The Nama deal is already the subject of an inquiry by the Northern Ireland Assembly's finance committee. The Irish government's decision comes after the publication of a report from the country's public spending watchdog that concludes the deal had shortcomings. ...

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