Less than a week after Left Foot Forward reported on a public service-cutting draft budget from the Scottish Government, new developments from the administrations in both Cardiff Bay and Stormont have again highlighted the tough financial decisions that lie ahead.
Leaders taking part in the G20, G8+5, and G8 summits over the past year have pledged in effect to reconstitute the international economic order along the lines that progressives have been advocating for years. But for these objectives to be achieved they will need to be translated into major structural improvements in the corresponding multilateral and national institutions.
The major parties seem to agree that public spending cuts will have to bear the brunt of the effort to reduce the deficit because higher taxes would be worse for the economy than spending cuts. This consensus is based on a view that countries with higher taxes perform less well than countries with lower taxes. In fact, the long-run evidence to support this claim is flimsy.
Campaigners have reacted with anger to reports over the weekend that the Treasury is blocking German and French plans for a tax on currency transactions – a “Tobin Tax” – which would be used to help the world’s poorest nations. Estimates suggest that $17 to $33 billion could be raised by the tax depending on which countries took part.
The IPPR’s latest report reveals that Government, business and communities need to do more to encourage people to adopt a more low-carbon lifestyle.
George Osborne says that banks must be stopped from paying bonuses as they need their profits to rebuild their balance sheets while at the same time it would be a bad thing if banks increased their profits to rebuild their balance sheets.
Despite yesterday’s “bleak employment outlook” the major political parties and British media continue to promote solutions which will do little to alleviate long term unemployment. The Government should prioritise long-term employment through investing in new industries combating environmental problems and increasing community development.
With the US and EU reportedly at odds over securing a climate deal at Copenhagen, and doctors warning of a “global health catastrophe” if we don’t get one, you might think we need less confusion about climate change in the media, not more. Why then does the Today programme continue to give air-time to people who have no credentials to talk about climate change?
The news that the number of people looking for work now almost tops 2.47 million underlines that while the UK economy may be emerging from recession, the job market remains tough. Such a striking headline figure, and the human strugglestest
Vince Cable today called for a “tax neutral” while outlining plans for £43 billion in savings to combat the deficit
