George Osborne fails on George Osborne’s terms
George Osborne fails on his own terms.
Growth
Keynes’s ghost continues to haunt George Osborne
That George Osborne should hail the loss of the UK’s AAA credit rating as evidence that yet more of the same cuts and austerity are needed is an alarming example of Orwellian “doublethink.” What is needed is Keynesian government pump priming, to fill the potholes, build houses, improve local rail networks (not HS2), invest in renewable energy sources etc, and so create employment, restore growth, increase tax revenues, eliminate the current deficit and bequeath to future generations a spanking economic infrastructure and a healthy society.
Earnings now at same level as 2002 for squeezed middle
Real earnings have declined since 2009 and are at the same level as 2002.
The coalition is in ‘growth denial’
The Bank of England is expected to downgrade its growth forecasts today while warning of more financial pain to come. As the graph shows, the growth trend in the UK economy has been downward since around the third quarter oftest
Why are British workers getting less productive?
The IFS produced a new report today examining why British workers are getting less productive.
Watch: Miliband flays Cameron on the economy at PMQs
Following Friday’s poor growth figures, Ed Miliband went after David Cameron on his failing economic record at today’s Prime Minister’s Questions.
Osborne: Blames the snow and eurozone when growth is down, takes the credit when it’s up
Chancellor George Osborne is the ultimate political swindler, taking credit for when the GDP figures are good, not taking the blame when they’re bad.
This depression is the longest in modern history, so why is the economy still creating jobs?
With today’s GDP figures confirming this is the longest depression in modern UK history, IPPR’s Spencer Thompson asks why the economy is still creating jobs.
GDP down 0.3% – economy flatlines through 2012
Gross Domestic Product shrank 0.3 per cent in the final quarter of 2012 – with the economy flatlining through the whole of 2012.
Economic update – December 2012: Triple-dip ahead?
IPPR’s Amna Silim presents the latest Left Foot Forward economic update, for December 2012.