The post-recession economic recovery in the UK has been far from great. The coronavirus outbreak hit the British economy harder than most, with GDP falling 12% in 2020 – the third largest contraction in the G20. GDP in six of the twenty G20 nations is now above pre-pandemic levels; at the same time, the UKContinue reading “The poor state of the UK economy”
Category Archives: Fiscal Policy
The Economic legacy of the Blair administration
Tony Blair became Prime Minister in 1997. This came after a landslide election victory in which the Labour Party gained 145 seats, taking them to a total of 418 seats. With a majority of 179 seats, the Labour government held the largest parliamentary majority since 1935. The transformation of the Labour Party into ‘New Labour’Continue reading “The Economic legacy of the Blair administration”
The problem with price controls
Putting a cap on the goods that are rising in price sounds great in theory and has been popular with politicians in past. The imposition of these controls is designed to stop prices from rising whilst allowing civilians to purchase the same amount of goods that were previously being consumed. With this said, price ceilingsContinue reading “The problem with price controls”
Evaluating the Autumn Budget
Rishi Sunak, chancellor of the Exchequer, has just announced the government’s fiscal plans for the coming year. Gifted with more optimistic economic forecasts compared to those produced by the IFS in March, Sunak was given more flexibility in his fiscal agenda with room for tax cuts or spending increases. The chancellor opted for a combinationContinue reading “Evaluating the Autumn Budget”
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