From the TUC

Economics (page 2)

How the Bank of England has teed-up £40-70 billion of government spending (plus financing?)

09 Aug 2016, by in Economics

While most commentators celebrated last week’s ‘Brexit monetary-bazooka’, they perhaps downplayed how well the Bank has teed-up actions from the Treasury. Between the lines, they are supporting increased government spending over the next two years of £40 to £70bn. Duncan Weldon hit the nail on the head on Newsnight (see also Matt Whittaker’s blog –…


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On industrial strategy, a return to Thatcher is not the answer!

26 Jul 2016, by in Economics

This morning, the former Foreign Secretary and Conservative Party Leader, William Hague, has stepped into the debate about the nature of the UK’s industrial strategy. Hague’s intervention, in this morning’s Daily Telegraph, has been prompted by the new Prime Minister, Theresa May’s, welcome commitment to such a strategy as part of her developing economic narrative. Hague cannot…


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Powering Ahead – a Strategy for Sustainable Industry

22 Jul 2016, by in Economics

Today, the TUC publishes ‘Powering Ahead: How UK industry can match Europe’s environmental leaders’. This report, based on new research from Germany and Denmark, considers both how to rebuild the UK’s industrial sector and how to align the needs of industry with the quest for a cleaner, greener planet. ‘Powering Ahead’ addresses two of the…


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Government borrow more in first quarter of financial year (£26bn) than it originally expected to borrow in the year as a whole (£24bn)

21 Jul 2016, by in Economics

Public sector net borrowing for the first quarter of the current financial year (2016-17) was £26.6bn, down from £27.9bn over the same period of 2016/17. On twitter the ONS are celebrating the lowest figure for the month of June since 2007. But this is hardly the point: the point of substance is the extent of the…


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Another view on the referendum results: Unity – not division – against the metropolitan economy

20 Jul 2016, by in Economics

The Resolution Foundation (RF) has led the way in interpreting referendum results according to economic and other factors. However their latest contribution “The importance of place“, seems to me to underplay the importance of place. Outside London and other metropolitan centres, the vote to leave was remarkable for its uniformity. A relation with income is…


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Note to Philip Hammond: In ALL 32 OECD countries that cut spending, economic growth was seriously damaged

14 Jul 2016, by in Economics

Since 2010, under the direction of international organisations and most economists, governments across the world have cut spending in order to restore public finances to health. OECD figures show this strategy has failed. Cuts have greatly damaged economic growth – to a far greater extent than anticipated. As a result, little order has been restored…


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