Income tax receipts in particular have been weaker than expected.
Tag Archives: borrowing
Former chief City regulator Hector Sants has introduced a national network of churches, communities and credit unions as an alternative to payday lenders.
Could borrowing be a lot lower by the election than anyone now expects?
New data published this week shows that banks are still not lending to British businesses, despite the government’s much trumpeted Funding for Lending scheme.
In the wake of changes announced by chancellor George Osborne last week on the amount at which a credit union can charge in interest for one of its loan products, Joseph Wright of Civitas has written a paper entitled Credit Unions: A Solution to Poor Bank Lending? exploring the industry and its rates.
The below graph shows the additional borrowing in each year compared to the estimates at the Autumn Statement in December.
Against the backdrop of the loss of the triple-A rating much coveted by Conservative Ministers – and trivialised by others – Cable is right again. Wednesday’s remarkable New Statesman article makes plain the case for a new economic strategy, and the need for as elegant as possible a reversal of Osbornomics that was itself eclipsed by Cable in the economic debates of 2010.