From the TUC

Web links for 22nd October 2010

22 Oct 2010, by in Web links

  • Dr John Sentamu, Archbishop of York, says “You do not escape an economic downturn by cutting investment and by squashing aspirations.”
  • Sunny Hundal shows that while the CEO of Arup was happy to publicly claim that the private sector is driving jobs growth, he has made the opposite case in an internal email to staff. Specifically he states that “…with the anticipated improvement in our sector of the UK economy failing to materialise, further redundancies have become inevitable.”
  • Local Government Chronicle reveals that the grant to local authorities will be less than the amount that business rates (collected centrally) are expected to raise. They report fears that the Treasury plans a ‘raid’ on this revenue which is supposed to be passed on to Councils entirely.
  • Paul Krugman criticises the spending review and in passing points what’s obvious to most unbiased observers about how we got here: “Over-reliance on the financial industry largely explains why Britain, which came into the crisis with relatively low public debt, has seen its budget deficit soar to 11 percent of G.D.P.”
  • US economist Brad DeLong’s trenchant response to the Spending Review: “Their shame would not be quite so great if they had a theory about what elements of spending will grow to offset their 9% of GDP planned fiscal contraction.” A short item but really worth reading.

One Response to Web links for 22nd October 2010

  1. Tweets that mention Web links for 22nd October 2010 | ToUChstone blog: A public policy blog from the TUC — Topsy.com
    Oct 24th 2010, 1:13 pm

    […] This post was mentioned on Twitter by ToUChstone blog, Rachel Hubbard. Rachel Hubbard said: RT @touchstoneblog: Web links for 22nd October 2010 http://bit.ly/b46YDQ […]