From the TUC

Economics (page 171)

A new era for manufacturing?

12 Sep 2008, by in Economics, Environment

This was an important week for manufacturing industry. The Government launched its refreshed manufacturing strategy in a document which states: “Looking forward, a thriving manufacturing sector is central to the future success of the British economy.” We couldn’t agree more. But what will that sector look like?




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Fannie, Freddie and tax avoidance

11 Sep 2008, by in Economics

Richard Murphy notes the news that corporate tax avoidance was central to the weakness of Fannie and Freddie. “Deferred tax” was a key part of the work Richard did for the TUC in The Missing Billions.  The pamphlet critiqued deferred tax for the vast sums this technique denies to public funds. The fact that it may also have played a part in the…




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Recession? Maybe but what to do about it?

11 Sep 2008, by in Economics

The EU’s prediction of recession in the UK is widely reported.  More importantly, a debate about how to respond is slowly taking shape.  A good article by Seumus Milne in The Guardian today on this and Paul Mason on Newsnight yesterday quoted figures from my previous post on a fiscal stimulus.  Paul suggested the Government…




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Are you still here?

08 Sep 2008, by in Economics

You would have thought that given the fuss  over the non-dom tax reforms introduced in the last Budget that the hedge funds had all left long before the August rains. In reality, so few have gone, it’s still front page news in the FT when a hedgie quits for Switzerland. Next time, we hear the City is planning a “mass…




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Stimulate those fiscals!

07 Sep 2008, by in Economics

Earlier this year, George Bush launched a fiscal stimulus package to get US consumers spending again. It had the full backing of Democrats in Congress. Indeed Democrats (and John McCain apparently) are now pushing for a second round of stimulus but Bush is resisting. By my calculations, the package was worth about £650 on average to 130 million US taxpayers. …




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#4 Do the Super-Rich matter?

07 Sep 2008, by in Economics, Society & Welfare

It’s the controversy that is becoming symbolic of a wider debate about the future direction of the UK. Should we be ‘intensely relaxed’ about the super-rich, as Peter Mandelson claimed? Or are they symptomatic of something fundamentally wrong with Britain? Do the Super-Rich Matter? forensically analyses the impact the wealthiest are having on our wellbeing.…




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Making good use of windfall profits

05 Sep 2008, by in Economics

Back in the Spring, the TUC’s Budget submission called for a windfall tax on energy companies. According to Ofgem, the energy regulator, the electricity industry will benefit from a windfall profit of around £9 billion from the free allocation of their emission permits from 2008 to 2012. A tidy profit with permits worth 24 euros…




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Useless tax policy #1 and #2

02 Sep 2008, by in Economics, Society & Welfare

The Conservative Party are heading for a hat trick of tax policies that completely miss the point. At the end of last week, George Osborne wrote to the Chancellor declaring that he would cut corporation tax from 28% to 25% to stop companies leaving the UK.  However, as the tax expert and obsessive blogger Richard…




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Job insecurity is a problem

01 Sep 2008, by in Economics, Labour market

Stumbling and Mumbling is an economics blog that is always worth reading. Even when you disagree, it makes you check your own position. But his take on the TUC’s job security poll is a bit off the mark. He says “this survey is no evidence whatsoever of an impending economic downturn” But that is not what…




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