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UK After The Recession
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Can the market (or the government) deliver fast economic recovery?
For the past 30 years, the economy has been driven by public sector, finance and housing. So what will take their place? The strict answer is that nobody needs to identify where future growth will come from — that is the whole point of a market economy. Provided the cost of money is low enough...
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Osborne’s cuts, neither unavoidable or achievable
So George Osborne has sent his message to the world’s financial markets. His insistence that the cuts announced in yesterday’s budget were ‘unavoidable’ was based mainly on the need to reassure international investors that the UK is still a safe place to lend money to ie we are not another Greece. But is Osborne’s austerity...
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What cowboy put this fiscal deficit in?
That Cameron and Osborne should blame the previous administration for the mess they have inherited is hardly a surprise. It should also not be a shock that Cameron is painting the future as black. He then has the dual advantage that if things turn out badly he can say he told us so and if they do...
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Why austerity won’t work
Before we all put on the hair shirt and make a virtue of cutting public services the question has to be asked, will it work? Will cutting public spending help the UK economy to revive? Is austerity necessary to keep the creditors, in this case those who lend money to the UK government, from the...
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Why should anybody oppose public spending cuts, and how?
Naturally, nobody welcomes having services they benefit from taken away. The bulk of public spending, about 63% of the total, goes on health, education, pensions and social security. Everybody at some time in their lives will benefit from these services. The problem is that the current level of government spending can only be sustained either by borrowing more money or increasing...
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