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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.
Restoration of central government grants to local authorities would send a clear signal that the Prime Minister intends to end austerity. How much expenditure would this require?
Theresa May’s attack on Labour was purposely framed to suggest that Labour governments are embezzlers – tax raiders. But no Labour government has ever run out of money, and no government finances spending from taxation.
The public debt is the Rodney Dangerfield of government finances. It is a long term benefit treated as perennial problem.
The purpose of the national investment bank would be to increase lending and investing in sectors that are key for the country’s structural transformation.
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