I noted a report in the Independent yesterday about comments that the shadow chancellor, Chris Leslie, had made about why he called Corbynomics. These are, I presume, the policies announced by Jeremy Corbyn nearly two weeks ago. I spoke at the launch of those policies and since they were largely lifted from this blog I […]
The end of my European dream
Jul 14th, 2015 by Richard Murphy.The imposition of German demands on Greece, without consideration for its democracy, sovereignty or interests, is one of those moments that changes everything. I grew up with a European dream. Born in 1958 I was politically aware from a very young age. Much informed my early views, but most influences were, inevitably, personal. I wanted […]
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Has Labour freed itself from fear? It can’t be courageous if it doesn’t
Jan 15th, 2014 by Richard Murphy.Even Labour’s own supporters are saying it’s time for them to deliver some policies. I agree. And I’m not asking for the sort of thing that promises a VAT reduction on replacement windows. I’m asking for substance. Substance is a tough ask. The Guardian is interpreting it as relating to economics and of course it does, but only, I’d suggest […]
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The Coop group is in a mess: deal with it
Nov 21st, 2013 by Richard Murphy.I’m angry that the Co-op group is in a mess. As a member I have been let down. As a customer of the bank they’ve failed me. As a believer in the co-op approach to business I am disappointed that flagship co-op has failed so many other successful co-ops by its actions. I am annoyed […]
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Building the tax justice consensus
Sep 20th, 2012 by Richard Murphy.For more than thirty years the politics of the UK and most other western democracies has been dominated by a notable and consistent adherence to a single consensus on tax issues. That persistent policy approach has been built around what has been described as the Washington Consensus. That agenda, which translated neoliberal thinking into policy prescriptions, […]
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RBS bail out: Not again. This time, nationalise
Oct 7th, 2011 by Richard Murphy.The FT warns this morning that there are widespread fears the the government will have to bail out RBS, again. RBS passed the so-called European stress test in July, but that test failed to take into account the likely failure of Greek and other debt. Now that failure is likely and the EU is demanding new stress tests then RBS […]
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Buffet’s Law and why we need it here
Sep 20th, 2011 by Richard Murphy.Buffett’s law is an idea gaining traction in the USA. Of course it is wrong that billionaires pay less tax on their overall income than their secretarial staff. The question is what do we do about it? There are remarkably simple solutions, all of which suit the tax simplification agenda.
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Pension reforms – inefficient, unfair, a disincentive to save, deflationary and wrong
Mar 10th, 2011 by Richard Murphy.As economists we are opposed to the public sector pension reforms proposed by this government and Lord Hutton. Public sector pensions are far more efficient than private pensions. The net cost of paying public sector pensions in 2009/10 was a little under £4 billion. The cost of providing tax relief to the one per cent […]
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Britain gives up sovereignty to Switzerland and £40 billion to tax evaders
Oct 27th, 2010 by Richard Murphy.In a quite astonishing move it seems that the UK has announced it is to give up British tax sovereignty and has granted power to determine UK taxes to Switzerland instead. In the process, the UK is promoting tax evasion by its citizens, promoting Geneva and Zurich over London, abandoning its right to tax, abandoning its […]
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The elephant in the macroeconomy
Jul 17th, 2010 by Richard Murphy.I was at a Smith Institute debate this week, focusing on the budget. Several insights flowed from the debate, which was chaired by my Green New Deal colleague Larry Elliott and featured Chris Wales, onetime special adviser to Gordon Brown, plus Stephen Timms MP for Labour, Lord Newby for the Lib Dems, Kwasi Kwarteng MP […]
