Section: Economy

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Jeremy Hunt’s maxing out the credit card nonsense

Richard Murphy

Jeremy Hunt is saying we cannot max out the national credit card this morning. This is total nonsense. There is no national credit card. Instead it’s the job of government to make the money we use. And since it can always make that money, it can never max out on credit. Hunt wants you to […]

Truss and Kwarteng are panicking about the £. So they should

Andrew Levi

The Sunday Times reports that Liz Truss and Kwasi Kwarteng are panicking about the £. So they should. Or rather, they should take the necessary action. Now. Andrew Levi sets out what they need to do to avert disaster: ✅ massive extra govt spending (otherwise business, economic and social collapse) ✅ tax back much of […]

Total blackout

Andrew Levi

Britain’s imminent energy Armageddon, and how to avoid it: in a long read, Andrew Levi warns that the scale and nature of the crisis is still widely misunderstood, and the measures needed to address it woefully underdeveloped. Brexit, a unique act of self-harm, worsens the UK’s situation. Without great good luck, only radical immediate action […]

The paradox at the heart of capitalist growth

Jason Hickel
stockmarket price screen

There is an extraordinary paradox at the heart of capitalist growth in rich economies, which is important to understand. Here’s how it works: First, capital seeks to privatise and enclose key goods that we need in order to live – healthcare, housing, energy, transport, etc – making these things increasingly expensive for us to access. […]

Sunak’s choice: help or harm?

Richard Murphy
Chancellor Rishi Sunak

Rishi Sunak has a choice to make in his upcoming budget. He could provide the support most households in the UK will need if they are to be able to pay their bills in the next year. If he doesn’t provide it, we are in meltdown. This is Richard Murphy’s article on the impact of […]

Let’s tax dirty oil and gas profits to tackle the cost of living crisis

Tom Scott
Dirty profits tax poster

A ‘Dirty Profit Tax’ would help to address both extreme levels of poverty and the accelerating climate emergency, argues Tom Scott. This winter, millions of people in our country are facing extreme poverty. The cost-of-living crisis, largely caused by the dramatic rise in oil and gas prices, means that many are already having to choose […]

Brexit’s impact on Bournemouth

Sarah Cowley
UK and EU flags on jigsaw puzzle pieces, held apart

Perhaps the journalist for Bournemouth Echo had guessed that Jacob Rees-Mogg was about to be handed the ‘exciting’ challenge of proving the advantages of Brexit. None seem to be immediately discernible. The Public Accounts Committee (PAC) released a report on 9 February, which revealed that “the only detectable impact so far is increased costs, paperwork […]

Seeking driving work in the times of Brexit and the hostile environment

Tomasz Oryński
Articulated lorry cab

You might remember my articles from last year, when I explained why people don’t want to work as lorry drivers anymore. I came with several reasons why Britain suffers from a driver shortage. Surely now, when we have established that the economy does needs truckers, companies would be doing everything to attract them, right? Surely […]

“It’s business, Boris…but not as we knew it”

Julian Andrews
mussel fishing vessel

Imagine that you run an innovative, environmentally sustainable enterprise which employs your wife, your kids and ten local people. You’ve been in the business for over 30 years and you know exactly what you’re doing. You and your family have invested decades’ worth of emotion, aspiration, knowledge and money in it. You’ve won the industry’s […]

The property price boom that helps the few, not the many

Mick Fletcher
Stags estate agent sign

In 2021 the average price of houses in Taunton increased by 21 per cent: the highest rate of increase in the country. It is a sign of how utterly dysfunctional our housing market has become that this was announced as good news. According to the Daily Mail, for example, “while it was good news for […]

All credit to credit unions

Mick Fletcher
Credit Union sign on building

Credit unions represent the quiet approach to community action. While some groups, like Greenpeace or Extinction Rebellion, seek to bring about change by hitting the headlines, credit unions are rarely in the news and not well understood. Yet figures published by the Bank of England show that they serve some two million members in the […]

The iron cage revisited: how Brexit constrains the UK

Bob Hancké

In recent weeks, the Trade and Cooperation Agreement between the UK and the EU has once again been making headlines. Bob Hancké reports on a recent study which suggests not only that the agreement has made trade in goods between the UK and the EU very difficult, but that it has also severely limited Britain’s ability to […]

Pigs sacrificed on the altar of Brexit

Anna Andrews
Pig snout poking through fence

“…This government has always been quite comfortable with importing… more food from abroad – cheaper imports – and not worrying about our food security and producing at home here, and I think that philosophy is starting to show now…” (Nick Allen, CEO of the British Meat Producers’ Association, on the BBC’s Farming Today on 6 […]

Employers are in the driving seat, but they don’t train drivers

Mick Fletcher

In an attempt to pose as doing something to help tackle the shortage of heavy goods vehicle (HGV) drivers the government has announced that the Department for Education (DfE) will be spending £10 million to train an estimated 3,000 drivers.  Set aside for the moment that this is a drop in the ocean compared with […]

“It’s only one petrol station…”

Tomasz Oryński

“It’s only one garage”, I was told when I mentioned that there was no HGV diesel at Lomond Gate earlier this week. But is it really not an issue when only some garages have no fuel? A thread: Lomond Gate is the last garage on the A82 going north that is really suitable for trucks. […]