Why is Obama hugging Israel today?

Britain and other European countries can play an important supporting role in a US-led process, but the stronger their relationship with both Israelis and Palestinians, the more constructive a role they will be able to play.

The £10,000 personal tax allowance: anything but progressive

In yesterday’s budget George Osborne announced that the personal income tax allowance would be raised to £10,000 from next year, earlier than 2015 as originally planned. Superficially taking people out of income tax does sound like a tantalising prospect – poorer people will have more money in their pockets, will they not? There are two major problems with this.

Road building is not the answer to Britain’s transport problems

As the UK economy continues to flat line, at the centre of the chancellor’s Budget plans to stimulate growth is a £3 billion annual infrastructure budget much of which is earmarked for damaging and regressive road building projects. But experience shows that new roads seldom solve people’s transport problems.

Budget 2013: Osborne’s hidden borrowing pays for tax sweeteners

When we assess the Osborne borrowing record, let’s be clear that it’s not just headline borrowing that is much higher than he promised a couple of years ago. Buried in today’s budget is also the hidden borrowing of future pension promises where he’s already spent some of the money designed to pay for them.

The Budget barely scratches the surface of what’s required

George Osborne today made improving infrastructure one of the key planks of his strategy to compete in the “global race”. Any move in this direction is to be supported but the small print of the Budget, as so often, shows that his headline announcement today will barely scratch the surface of what the economy needs to get growing again.