Austerity has enriched multinational companies and the owners of financial and real assets, while grinding down the value of earned income, pensions and benefits.
Tag Archives: Bank of England
This morning credit ratings agency Moody’s downgraded the Co-operative bank to Caa1. However the bank is still, as far as I am aware, open for business, despite the Prudential Regulation Authority (PRA) being told about the downgrade before the start of business today.
Will a politician have the courage to make the case for measures to deliberately redistribute from rich to poor if only to correct the redistribution that has taken place in the opposite direction as a result of QE?
Nigel Farage, generally considered to be to the Right of the Conservative Party, is advocating expansionist Bank of England policies, and “maximum employment”.
The chancellor George Osborne is coming under increasing pressure from tory back benchers and the governor of the bank of England to pursue a more right wing agenda.
TweetThe Bank of England is expected to downgrade its growth forecasts today while warning of more financial pain to come. As the graph shows, the growth trend in the UK economy has been downward since around the third quarter of 2010 – coincidentally, about the time George Osborne set out the coalition’s spending plans (20th […]
The stubborn nature of inflation stops the Bank of England from acting, pushes living costs further up and is seemingly ignored by the government.
The Bank of England appears to have thrown in the towel on growth with the publication of the latest Inflation Report, but where does this leave the chancellor?
The Bank of England’s latest warning that the economy has hit the buffers and will come grinding to a screeching halt later this year comes as no surprise.
Sir Mervyn King heralded the chancellor’s £140 billion stimulus plan but rejected a similar plan when Labour were in power in 2007.