On the 28th of March, President Biden set out his $5.8 trillion budget proposal for 2023. One of the largest in American history, this historic piece of legislation outlines $4.1 trillion as part of an American ‘Jobs and Rescue plan’ alongside an additional $1.7 trillion in discretionary spending. Proposed tax increases in this bill amountContinue reading “Biden’s backwards budget”
Category Archives: Current Affairs
Sunak’s economic woes
The British economic outlook for 2022 looks bleak. Living standards are set to fall at the fastest pace since the 1950s as inflation reaches a thirty-year high; absolute poverty looks set to rise for the first time since the Great Recession. All eyes have been on the Chancellor of the Exchequer to relieve the economicContinue reading “Sunak’s economic woes”
The British housing crisis
House prices in the UK have reached astronomical levels as they are now 65x higher than they were in 1970. The average house price has gone from £4,000 to £260,000 in the last fifty years. This growth greatly exceeds that of average wages that have only increased 36x in the same period. Such a disparityContinue reading “The British housing crisis”
Merkel’s economic chancellorship
Angela Merkel become the German chancellor in 2005. Merkel ran as the CDU/CSU candidate, the centre-right Conservative alliance in Germany. The CSU contests elections in only Bavaria, whereas the CDU operates in the other states of Germany. In the election campaign, the CDU/CSU pursued a fiscally conservative agenda, promising more deregulation, tax reductions and publicContinue reading “Merkel’s economic chancellorship”
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