In the wake of Brexit, George Osborne planned to “woo business” by reducing corporation tax – already heading for 17 per cent, the lowest rate in the G20, by 2020 – to less than 15 per cent. Will Philip Hammond, the new Chancellor, now follow through this plan, and would this be a step towards making the UK a tax […]
“Brexit chaos proves that I was right all along,” says everyone. Our political narratives need to change, or they’ll become barriers to thought
In times of uncertainty, politics is about choosing between competing narratives. The trouble is that narratives tend to be more about sticking to one’s position than responding to events. We need our politicians to be better at changing their stories and their minds, argues Kate Alexander Shaw.
In the week since the Brexit referendum there has been plenty of hand-wringing […]
John Van Reenen, Director of the Centre for Economic Performance, gives his reaction to the 2016 Budget. The austerity approach continues, despite it having little economic sense. Fuel duty is frozen as a sweetener to his backbenchers. And in terms of the future, Osborne may have spent time outlining the global uncertainties on the long-term economic horizon, but it’s the closer possibility of Brexit which has the potential to be the […]
Reduced growth forecasts are predicted in the run up to the 2016 Budget, as well as the potential of the Chancellor George Osborne having to adjust his borrowing forecasts. Osborne has already laid the groundwork for further spending cuts with his warning that he would use the annual financial set piece to “look at public expenditure again”. The Dods Political Monitoring Team speculate […]
Should Labour oppose George Osborne’s surplus rule? On the one hand are those within the Party who see the rule as bad economics; on the other are those who point out Labour was defeated on the economy in May 2015, and so are ready to sign up to a fiscal rule they don’t believe in. Gavin Kelly assesses the […]
On the face of it, the news that the government’s welfare spending cap will be breached for the first three years of this Parliament is a major embarrassment for George Osborne’s Treasury. But Kate Alexander Shaw explains that despite being a failed policy in the short-term, the welfare cap still shapes the debate in support of lower welfare spending.
Announced in […]
This week George Osborne proposed building high speed rail links between northern cities, dubbed HS3, in order to establish a ‘Northern Powerhouse’ to rival London. Henry Overman chews over the Chancellor’s speech and finds that HS3 would help, but it would be expensive and it’s unlikely that it would be enough to provide an effective counterbalance to London.
I have finally had a chance […]
While deep cuts to public services have already been made by the coalition government, there are even deeper cuts on the way. But an ultra slim state will fail, argues Gerry Stoker. We need politicians brave enough to make the case for the state. Will we notice when the state is gone? The plans of the current UK coalition government revealed in […]