It will take a vast New Deal of actual spending to lift Europe out of Coronavirus slump and head off a deflationary depression.
Posts Tagged: Bank of England
John Redwood: Why I, as a strong supporter of the market economy, back the Government’s emergency economic measures
The reason we will get away with it again, as we did in the banking crash, is that there is so much deflation around, inflation is not a problem.
The economy and the virus. Tear up the rulebook – we need Big State Government on a scale unknown in modern times.
The implications of the crisis are such that Johnson and Sunak need not so much to think outside the box as to trample it to tatters altogether.
As Minister of Business and Industry, I will be working every day with those most at risk – whether in hospitality, tourism or travel.
Ministers have been asked to push the Government’s priorities – tackling crime, funding the NHS, “levelling up”. How can these be effected without faster growth?
Without one, spending on older citizens will so far outstrip revenue from workers that future governments will face some unpleasant choices.
Economic competence has been the cornerstone of the Conservative appeal. Remove that cornerstone and the entire structure becomes fragile.
“A paramount duty of Government is to ensure Britain’s prosperity”. Hammond’s Mansion House speech – full text
So, there is a choice: either we leave with No Deal… or we preserve our future fiscal space – we cannot do both.
If the arguments against a target of net zero emissions by 2050 now seem familiar, that may be because we have been here before.
This will be our last big chance to send a strong message to the people who are supposed to lead our country.
William Keegan’s memoir describes with ebullient good humour how he covered half a century of bad news.
All I am trying to do is give impetus to a national conversation about how our education system should prepare our young people for the future.
Stephen Booth: Brexit and the economy. There are ups, there are downs. But whatever happens, our fundamentals remain strong.
A flexible labour market, a well-regarded legal system, and comparatively favourable demographics relative to the major European economies are all valuable assets.
Chloe Westley: A message to Remain politicians and their second referendum plot. Vote Leave Two would end your careers.
These politicians have no idea about the wave of contempt that will engulf them, just as they didn’t understand England outside the M25 in 2016.
The Moggcast. Beware “ridiculously inflated” rebellion predictions – the vote on the deal “will be a close result”.
Rees-Mogg discusses Carney’s “improper” rule at the Bank of England. Plus: his surprise at becoming the subject of an Ashcroft biography.