They Blog For You

The Banking Commission says its key objective is to protect the UK taxpayer from another bailout. At the same time, they suggest a sort of two-tier system within banks, as opposed to institutional separation. Sounds to me like they're proposing the sort of changes I was aiming at [...]

                The week-end press had started to wake up to the private sector squeeze which we have been talking about on this website  for the last year, the squeeze which was even heralded by the Bank of England itself. The high rate of inflation coupled with a low rate of wage [...]

The Office for Budgetary Responsibility apparently “needs more time to factor in budgetary changes to their forecasts or risks losing its credibility”.  You mean to say that technocratic experts at the OBR, like those at the MPC, don’t always [...]

                 First we are told that providing a new loan to Greece, or Ireland, or Portugal, creates a line in the sand, prevents the contagion spreading. As each sucessive loan demand showed, that did not work. The incoming tide of debt erased the lines. The contagion spread. The mixed metaphors [...]

Have you noticed your pint going up in price recently? Firstly there was the VAT rise in January, which saw an extra 6p added to the price of a pint and then at the end of March, the 7.2% increase in alcohol duty added on another 4p. I know beer [...]

Rarely can a Budget have disintegrated so quickly.   Dixons have just announced sales falling by 11% over the last 11 weeks, and are now cutting capital expenditure by 25%.   Oddbins goes bankrupt.   The former Asda boss has predicted a “long-term trend of trading down”.   HMV has just issued its thrid [...]

Tory tax rise means thousands more families to lose their child benefit Up to an extra 750,000...

Tory tax rise means thousands more families to lose their child benefit   Up to an extra 750,000 people will become higher rate taxpayers tomorrow (Wednesday), meaning that thousands more families will lose their child benefit in 2013 Labour will warn today.   Following changes announced in last June’s Budget by George Osborne [...]

The internal contradictions in Osborne’s economic policy multiply.   Before the election he complained quite rightly that the nation’s private debt was far too high – in the bubble years it reached £1.35 trillion, only slightly less than the nation’s entire GDP which was £1.45 trillion.   It is now £1.56 trillion, [...]

                        As a critic of the regulators in 2006-7 I said the banks should be made to hold more capital. In those days they were too heavily geared. The banks were allowed to lend far too much money with far too little capital to pay the losses if some of the [...]

We like to think of Britain as a free market economy. But are we? In a little over a decade, state spending as a percentage of GDP has increased from around 35 percent to approximately 50 percent. That's higher than in certain former Soviet republics. It is not simply that so much economic [...]

  How much can the Lib-Dems take? Can the anti-nuclear Lib-Dem MPs continue to back a doomed policy? They were clear in their denunciations before the General Election. Simon Hughes never changed his mind. Now Nick Clegg appears to have cracked. The Deputy Prime Minister cast doubt on the future for nuclear [...]

I just did an interview on the Daily Politics about public spending cuts - and why the government was actually finding it rather more difficult to curb spending than the rhetoric suggests. It is a mathematical fact that total public spending is actually set to rise from £669 Billion in the last year of Labour, to a projected £740 Billion [...]

               I stand accused of being unclear on public spending. Let me try again. The quicker the government can cotnrol the excess of spending over income, the quicker the economy will perform better.               I do not set out alternative spending targets or numbers to the Chacenllor, as experience has taught me [...]

                    The Portuguese government has fallen because it was unable to push through yet another austerity package. The  bond market demands ever higher interest rates to lend money to the ailing country. The economy remains mired in poor performance. Now all the talk is of another EU led bail out. [...]

KEVIN Brennan MP has accused George Osbourne of giving with one hand but taking it away with the other over his plans to cut 1p off fuel duty - weeks after his VAT rise added 3p.The coalition Government increased VAT by 2.5% in January which pushed petrol prices up by [...]

On Tuesday, during pre-Budget Treasury questions in the Chamber, I asked the Chancellor, George Osborne, about trade and was, in return, accused of talking down the British economy!The trade-weighted exchange rate has fallen by 20% in the last few years. Manufacturing has not increased as much as we expected, and [...]

Mr John Redwood (Wokingham) (Con): I remind the House that I offer industrial business advice to a Swedish, quoted international industrial group and investment advice to a British investment company. Some Opposition Members have expressed displeasure that Government Members should have mentioned the circumstances in Greece and Portugal. The Opposition rightly [...]

Chloe Smith, MP for Norwich North, will be running the latest seminar in the series of her 'Next Generation' business seminars. Begun last year in collaboration with City College and Howes Percival LLP, these meetings bring together Norwich students, entrepreneurs and established local firms to discuss the skills and business [...]

This Budget does nothing to help families in North Wales who currently face real challenges and...

This Budget does nothing to help families in North Wales who currently face real challenges and from April will find a real cut in their incomes, nor does it help our businesses to grow.   Before yesterday’s Budget Labour called for a re-think to George reckless plan to cut our public [...]

THE BUDGET 2011: An MP today welcomed the announcement by the Chancellor of the Exchequer that the Norwich Research Park will share in £100 million of investment in science and research facilities. The Park includes the John Innes Centre, one of the world’s leading centres for [...]