The ONS published revised figures for the debt and deficit in the year to March 2022. Compared to the figures released as recently as the Spring Statement they now think borrowing last year was £20bn higher than they thought in March, though still mas… read more
The most infamous cake quote came on the eve of the French revolution from their Queen. “Let them eat cake” as a solution to the poverty of those who could not afford bread became a phrase to sum up just how out of touch governments and elites can be… read more
Last year economic policy was expansion minded. The Bank of England carried on printing lots of money and kept interest rates around zero. The Treasury decided they could live with a large deficit and allow more spending. No big tax rises were allowe… read more
Parliament has failed to have a proper debate on the economy for many years. The main reason is that it has fallen for the lie that the Bank of England is independent. Because many commentators and politicians think that they fail to debate the cruci… read more
The latest IMF forecasts show the UK economy going from being the fastest growing economy last year to be the slowest of the advanced countries next year. The IMF is more pessimistic than the OBR/Treasury for 2023 and is more likely to be right. The … read more