Posts Tagged ‘Slump’

A milestone reached in the British slump

by Michael Burke.

The release of the second estimate of GDP in the 3rd quarter of 2013 marks an important milestone in the current slump. The fall in investment has for long been the driving force of the current crisis and in fact preceded it. As in many other countries investment (Gross Fixed Capital Formation) in Britain began to […]

We need Balls-plus

by Michael Meacher.

Were Ed Balls prescriptions desirable? Yes. Were they sufficient? No. He wants to repeat the bank bonus tax, bring forward long-term investment plans, reverse January’s damaging VAT rise for a temporary period, cut VAT to 5% on home improvements, and give a 1-year national insurance tax break for every small firm that takes on extra […]

Ed Balls speech: a right and left perspective

by Carl Packman.

Ed Balls today did exactly what he was supposed to do: he offered something by way of a plan to boost jobs, created a soundbite on Labour’s economic plan (“fiscal responsibility in the national interest”), apologised for what Labour got wrong in the past (75p pension rise, the abolition of the 10p tax rate), put […]

Ed Balls speech: in denial

by David Osler.

This is the darkest, most dangerous period for the global economy that most of us have ever lived through, Ed Balls correctly insisted in his speech to the Labour conference today. But never mind; a temporary cut in VAT will soon sort things out. I exaggerate, of course. But only slightly. At a time when […]

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