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Secretariat
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Prime Economics Co-Director Jeremy Smith and PEF Council member John Weeks analyse the “bar room budget-brawl” between the Italian government and the European Commission.
What should we take away from this year’s Budget? Our PEF Council react to Hammond’s announcements on Universal Credit, investment, growth and more.
Since the introduction of austerity, the focus of each Budget has been on reducing the deficit and debt – to the detriment of the wider economy. In this podcast series, members of the PEF Council explore what a progressive approach to the Budget could look like.
Chancellor Philip Hammond believes the task is to reduce the deficit to zero. But sound fiscal policy involves balancing the economy, not balancing the budget.
Theresa May has called for an “end to austerity”, but the Treasury will stand in her way and prove successful in its obstruction.
“Pandering to the ideas of a fragmented Conservative Party, rather than the needs of Britain as a whole, makes as much sense as managing an allotment entirely for the benefit of the whitefly.”
Much of the Chancellor’s upcoming Budget (October 29) risks being made irrelevant by the culmination of Brexit negotiations in the following month. But we should be aware of one announcement that is likely to have a lasting impact on the shape of government spending – the size of the ‘spending envelope’
What are the basics of budgeting?
We need a shift away from the deficit and towards well-being.
In the face of growing pressure to call time on public spending cuts, the Chancellor is using Brexit uncertainty as ideological cover for the continuation of austerity.
The IMF’s project to treat government finances as if they were corporate finances is ideological.
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