From the TUC

Economics (page 2)

OBR wrong to continue absolving Osborne’s polices for a deficit now 3x larger than planned

16 Oct 2015, by in Economics

TUC has argued that the economy and public finances were derailed over the coalition years because government spending cuts had a larger-than-expected impact on the wider economy (see e.g. blog, paper). Earlier this week the Office for Budget Responsibility (OBR) issued their annual Forecast Evaluation Report which gives the official take on this derailing. And…

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Involving workers in key business decisions? The European way

15 Oct 2015, by in Economics

At its 13th Congress held in Paris earlier this month, the European Trade Union Confederation (ETUC) launched an initiative for greater workplace democracy. In addition to promoting a better framework for worker information and consultation, the ETUC resolved for the first time to propose new ambitious standards for worker representation at board level in all…

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Negative inflation + lower growth = the Treasury must do more

13 Oct 2015, by in Economics

Once more the monthly CPI shows negative inflation of -0.1% in September. On a quarterly basis, inflation has been zero for two consecutive quarters, unprecedented territory for the CPI as the chart shows. CPI annual inflation, quarters Inevitably the Chancellor is again crowing about the beneficial effects on households’ spending power. As repeatedly argued, negative…

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Digital Disruption or Digital Dividend?

01 Oct 2015, by in Economics

It was a pleasure to speak at a fringe meeting on the digital economy, organised by Policy Network, at this year’s Labour Party Conference. I haven’t spoken or written on this subject before, so here are my slightly adapted comments to the meeting. “It is sometimes argued that the widespread adoption of Information and Communications…

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Varoufakis on Osborne’s austerity

25 Sep 2015, by in Economics

In comparison to Greece, cuts in the UK must undoubtedly look like a picnic. But Yanis Varoufakis overplayed the lack of austerity here (on BBC Question Time last night). Both at an individual level and in terms of the macroeconomy, UK cuts have been harsh and harmful, with increasingly obvious real damage on services (here).…

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