The shock-absorber is a looser fiscal policy. Although the budget deficit is higher than one would like, the good news is that it is falling sharply.
In response to William Atkinson’s scepticism last week, here the Director of the Adam Smith Institute makes the case for consols.
His Spring Statement was a missed opportunity despite some welcome measures – and further measures may be unveiled during the months ahead.
My instinct last week was that he tried too hard to please the Tory press. Nothing’s that’s happened since has suggested otherwise.
A key economic problem during the 1980s was union power. Now it is weak incentives to move and retrain.
At a time of pressure on public spending, delivering efficiency savings is especially important.
The Chancellor should not feel constrained by the OBR’s forecasts into limiting the actions he can take.
Pandemic and war, like two horsemen of the Apocalypse, leave the Chancellor scrabbling for a response.
The fundamental problem is that costs are going up faster than we are getting more productive.
Control the controllables. So provide assistance, ease the pain, reverse the tax hikes, explain why – and focus on a pro-growth strategy.
When it comes to helping working people, a tax cut to hand would be the cancellation of the Health and Social Care Levy.
One can be confident that arguments to the contrary are the sort of defeatist doom-mongering up with which Johnson will not put.
We should never forget the millions of people who are “just about managing” – they will find it harder to budget over the next few months.
The Foreign Secretary knows that she is being played off by them against the Chancellor. They know she knows. And she knows they know she knows.
I thought it would be useful to pass on some phrases that have fallen into disuse, but might be needed again if the authorities don’t get their act together.