From the TUC

Economics (page 2)

This is still austerity, but not as we knew it

25 Nov 2016, by in Economics

There were welcome signs in the 2016 Autumn Statement that the Chancellor has learned from his predecessor’s mistakes. The OBR forecast greatly increased borrowing (around £120bn more over 5 years) because they see uncertainties around the referendum meaning a weaker economy especially over the coming three years. But the government took the extra borrowing on…


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Productivity and the 2016 Autumn Statement: an antidote to Brexit?

23 Nov 2016, by in Economics

Philip Hammond committed to raising productivity in today’s Autumn Statement. A National Productivity Investment Fund worth £23bn will focus on infrastructure, including digital communications, and research and development. £23bn sounds like a lot of money; as Geoff has blogged elsewhere, it is actually less than it sounds, but it is a step in the right…


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Prime Minister reconfirms commitment to workers’ representation on company boards before Autumn Statement 2016

23 Nov 2016, by in Economics

Speaking immediately before the #Autumn Statement to a packed House of Commons, the Prime Minister clearly said that the government would bring in worker representation on company boards: I believe that we should see workers’ representation on boards. I make no apology for the fact that this Government are going to deliver on that. This…


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Autumn Statement 2016: Chancellor goes a little way to meet his investment challenge

23 Nov 2016, by in Economics

Today the Chancellor has finally recognised that spending on infrastructure strengthens the economy. Measures the TUC has long called for were announced, including more cash for housing, high speed broadband, rail and roads. Overall the Chancellor’s measures amounted to £23bn, a big sounding number. But looking at OBR numbers which show public sector net investment…


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The 2016 Autumn Statement chose corporate tax cuts over the pay rise Britain’s workers need

23 Nov 2016, by in Economics

In the details of Philip Hammond’s Autumn Statement came a worrying confirmation for those of us campaigning for a pay rise for Britain’s workforce. The Autumn Statement’s accompanying OBR forecast shows that the average annual wage will be £1,000 lower in 2020 than predicted at this year’s Budget. And this is on top of wages still having…


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Ernest Bevin and three lessons for ‘Rethinking Economics’

21 Nov 2016, by in Economics

(This post is the fuller version of remarks I made at the launch of Econocracy: The Perils of Leaving Economics to the Experts, by Joe Earle, Cahal Moran and Zach Ward-Perkins of ‘Rethinking Economics, London School of Economics, 21ST November 2016.) Parallels have rightly been drawn between the present crisis in economics and the events…


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