Green Politics
OBR: Recovery “at a slower pace” than in the 70s, 80s and 90s
Tomorrow’s papers will probably note the forecast that, by 2015, public sector employment will fall by 330,000, one hundred and sixty thousand less than the 490,000 forecast in June. 30,000 of the difference is down to “methodological refinements”. The remaining 130,000 reduction is because the Spending Review cut more from social security and less from Departmental budgets than OBR expected – a different balance of misery, rather than a genuine improvement.
A defence of the Future Jobs Fund: Where now for the young employed?
Dan Smith highlights the impacts of the Future Jobs Fund in Brighton and Hove, arguing it has proved cost effective, helping long-term claimants off benefits.
Bank’s Adam Posen: cuts will be “quite contractionary”
The Bank of England's Adam Posen expects the impact of the Coalition's cuts as "quite contractionary". He also accused Mervyn King of being "excessively political".
Unionists attack SDLP opposition to Housing Benefit cuts
Senior members of the DUP and UUP have attacked SDLP social development minister Alex Attwood’s opposition to reforms being introduced on housing benefits by the coalition government in Westminster.
What would happen if Spain follows Ireland over the edge?
On Monday the big news of the day was the Ireland bailout. Yesterday, the follow-on story was Portugal’s general strike which could push the country over the edge. But the nagging doubt in everyone’s minds in the European power-centres today will be neither: it will be the much worse possibility, remote or otherwise, that Spain might follow: Spanish euro spreads reached a record 260 basis points yesterday, making it is very expensive for Spain to borrow.
Real wages set to fall for three years
A new report shows that cuts, rising inflation and stagnating pay will make lower middle classes £720 a year worse off. It shows that wages will fall in real terms until 2013.