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 […]
Prof Danny Blanchflower and I issued a press release yesterday calling for radical reform of the Bank of England’s Monetary Policy Committee (BoE MPC). We think this is really important to protect people from economic harm in the recession to come. The MPC has set BoE interest rates and made all the vital decisions on […]
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 […]
Danny Blanchflower had a longish discussion pn August 17 in which we agreed that the inflation that is dominating economic discussion about our economy at present is a passing phase. That does not mean it is not important. Far from it, in fact. But what it does mean is that when discussing inflation we have […]
As the queues on the M20 get longer and longer with the average waiting time of anywhere between 18-30 hrs you have to wonder how much this will cost consumers. Moreover, many don’t even know why it’s happening. Here is a quick piece to explain this lunacy. Back in January the new IT system GVMS […]
There is a growing and numbing realisation of just how bad Sunak’s budget really was. Worse, he’s even now saying that there is nothing he can do about poverty. This is thread to explain why he’s failing and what we can do about it if we want to change our politics. If you want a […]
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. […]
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 […]
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 […]
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 […]
I originally posted this rather long thread on Twitter. If you think it too long to read, the summary is that reversing QE could be the recipe for an absolute economic disaster. All the debt issues by the government to pay for Covid – about £450 billion of it – was in effect bought by the […]
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 […]
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 […]
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 […]
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 […]
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 […]
On 26 October, we held a panel event to discuss the impact of Brexit on music specifically and the Arts generally. We were joined by David Knopfler, singer-songwriter and founding member of rock group Dire Straits; Ben Osborn, based in Berlin, composer, musician who also works with asylum seekers and marginalised people using music to […]
This government is trying to con us into believing that the trade deals being struck benefit the UK. They don’t and now there is talk that the NFU are resigned to the demise of cattle farming in the UK and are prioritising compensation for farmers put out of business by Brexit. And this film from […]
“…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 […]
In comments that were crass even by his own low standards, Boris Johnson recently told an interviewer that falling health outcomes didn’t matter because wages were going up. His statement, “never mind life expectancy, never mind cancer outcomes – look at wage growth” has been widely condemned as callous and indifferent to the suffering of […]
There is that map circulating the internet, used by Brexiters to show that driver shortages are nothing unusual across Europe, and thus the situation in Britain is not specific to this country only and, surely, it has nothing to do with Brexit. You can find that map for example in this Daily Mail article; for easiness […]
The growing labour and skill shortages across the economy of the United Kingdom are fundamentally down to the explosion of the UK’s demographic time bomb. The UK has an ageing population with an ageing, shrinking, domestic workforce with, just as importantly, an ageing, shrinking, domestic business-owning class. More people are retiring from the UK labour […]
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 […]
I was asked recently to explain the fundamental differences between the economics of the right, centre ground and left of politics. That seemed to be an invitation to do a thread, so here goes…… The big difference between the political right, centre ground and left in economic terms comes down to how they think markets […]
“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. […]
Dear Editor-in-Chief, Johnson really just wants to destroy Great Britain. Quite why I haven’t worked out yet, but I am struggling to find out! Every single policy has been to the detriment of the British and to the advantage of the USA. Our major defence industries have been sold to Americans. Our NHS is in […]
Thousands of people who shop in the UK have probably noticed shortages of products in British supermarkets. The supply problems are blamed on the shortage of HGV drivers and the government is taking steps to tackle it: the driving hours have been extended and there is a talk about bringing the army drivers to help […]
Thousands of people who shop in the UK have probably noticed shortages of products in British supermarkets. The supply problems are blamed on the shortage of HGV drivers and the government is taking steps to tackle it: the driving hours have been extended and there is a talk about bringing the army drivers to help […]
Thursday 9 September, evening: the UK Government published their long-awaited proposal for a new UK data protection regime. The new framework is the peak of a journey which Open Rights Group has followed closely, starting from the National Data Strategy and down to the TIGRR report and the Digital Regulation Plan. We will analyse and react to Government consultation thoroughly, […]
In the first four videos in this series on tax havens I have explored how they work, what they abuse, and why that abuse should worry anyone who is concerned for fair markets, the rule of law and democracy, all of which tax havens (or secrecy jurisdictions as I prefer to call them) actively seek to undermine. This then leads to the obvious question, which […]