Cormac Hollingsworth
Cormac writes for Left Foot Forward on the economy; he is an economic policy consultant who previously worked as an MD at a European investment bank.
Ed Milliband’s call for global action to kickstart economy backed up by IMF
Ed Miliband’s call for an emergency G20 summit in September is backed up by an important year-long project undertaken by the IMF, writes Cormac Hollingsworth.
Higher borrowing than under Labour threatens credibility of UK plc.
While the coalition is pointing to not needing to borrow in July, the City now expects the coalition to borrow £10 billion more than the OBR prediction.
How likely is 10% unemployment?
It will take just 660,000 further job losses to bring the UK to 10% unemployment; we are much closer to the ‘1 in 10’ unemployment disaster than you might think.
The West’s lost decade has begun
Today, US 10-year government bond yields traded below a critical 2% yield level, a record low - the west has entered a period of stagnation.
Markets are telling Osborne to increase spending
Despite a record low for government bonds, the treasury refuses to release the purse strings, condemning us to a 'paradox of thrift'
The coalition could end up borrowing more than Labour
If the economy continues to stagnate, the coalition could borrow more than Labour this year, writes Cormac Hollingsworth.