The Chancellor is groping his way, knowing well that the future is unknowable, trying to hold on to as much of the past as he can.
Posts Tagged: Tax and Spending
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When a government takes money out of it, it is creating unseen costs. Subsidising jobs is no more a route to growth than smashing windows.
Sunak’s statement tomorrow. How much like the Old Normal can we afford to make the New Normal be – or try to?
Given the Coronavirus uncertainties, whatever he announces could be even more provisional than most schemes of most Chancellors.
However, he doesn’t recognise the £10bn figure bosses are reportedly asking for on the NHS’ 72nd anniversary.
“Take a method and try it. If it fails, admit it frankly and try another. But above all, try something.”
The big picture is that Johnson is dashing for growth. We devoutly hope it works but the precedents aren’t promising.
Three cheers for three reforms: of the civil service, of Ministers and of one that this Government tends to avoid – of public services.
David Gauke: Big Government is back. It didn’t work before. It may not now. Here’s why we should be wary of it.
Post-Covid, the environment is likely to be egalitarian and interventionist. For libertarian, small state Eurosceptics, this must come as a disappointment.
The CBI supports the Government’s timetable and Starmer is keeping his head down. It is quite the turnaround.
An election that saw them returned to say yes to Brexit and boosterism leaves Johnson vulnerable to events and reality.
After a decade of forward guidance, credit easing and quantitative easing, it was clear even before the Covid-19 crisis that monetary policy had run out of road.
It represents an emergency call to arms – not a permanent transition towards a command society.
Owen Paterson: Cameron’s Coalition was formed ten years ago today. It left us a message of hope that we should honour.
As a member of his first Cabinet, I was tested in Northern Ireland – as elsewhere the new government reduced the defict and reformed public services.
As the tenth anniversary of the 2010 election approaches, the author says that Labour’s own austerity record and plans were almost as tough as the Coalition’s.
Neil O’Brien: Salvaging the economy. Could we just live with more borrowing for a bit? Maybe, maybe not.
Hopefully it will be crisis averted, and we’ll have a bit more time to fix the hole. But sooner or later, difficult choices on tax and spending are coming.