The state is broke, and democratic government ineffective, because big business no longer pays tax.
Tag Archives: Investment
A government that looked at least ten years ahead would surely operate differently, investing more now and saving more later.
Everyone knew there would be very little money to spare in Wednesday’s Spending Review and Thursday’s ‘Growth Statement’. The slow recovery of the national economy has put paid to any attempts to move away from ‘austerity’, so departmental cuts of up to 10 per cent came as no surprise.
Today’s announcements about infrastructure spending are yet another U-turn for a coalition government which cut capital spending far too deeply at the last spending round.
Across the nations the chancellor’s spending review has received a mixed reaction to say the very least.
Faisal Islam at Channel 4 Factcheck claims to have witnessed “the most egregious statistical chicanery…in a Treasury fiscal event in 13 years of covering economics for newspapers and TV”.
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.
The High Speed Rail project holds great potential, but to make the most of that investment, the government must ensure all our railways are fit for the future.
As the country slowly gets back into gear for 2013, Lord Whitty writes on the housing crisis and whether or not 2013 represents the year for much-needed action.
Ed Balls poked fun at George Osborne’s many, many u-turns in his autumn statement response today.