In today's budget, George Osborne sets out a path for the government's fiscal deficit over the next five years. His aim is to get the overall budget into surplus by 2019/20. This is one year later that planned back in March - a welcome smoothing of the path for eliminating the government's deficit. But he may still be moving too fast.
"I never gave anybody hell! I just told the truth and they thought it was hell" ― Harry S. Truman As more and more people
The Chancellor is right to argue that debt will have to be reduced. There is no definitive answer to the question of the optimal level of debt, but debt in the UK has doubled since the onset of the financial crisis and, as a result, it would be harder to respond to a future severe downturn in economic activity through an easing of fiscal policy. Debt needs to be reduced to create room for it to be increased again if needed.
The Chancellor's recent Autumn Statement generated a number of big-splash headlines with announcements on Stamp Duty, tax and savings. But there are really only two key criteria by which we will judge the Chancellor's Statement in the long term.
Most voters think George Osborne has failed on his key aim to get Britain's budget deficit under control, a new poll has
More is it at stake than immediate political positioning. The agendas adopted now will define the policy space for most of the next parliament... Perhaps the present consensus on the haste of deficit reduction is deserving of greater scrutiny than is currently afforded by much of the UK's political class.
George Osborne's plan to eliminate Britain's deficit by 2018 has been undermined as the decline in the rate of borrowing
A Food Chain of Victimhood: The Metropolitan Police, the Boy With Down's Syndrome and a Feckless Austerity
Austerity, and online petitions have much in common. Both are dominant online topics, and both have a polarising effect on opinion as to whether they can ever truly yield successful outcomes. Petitions seem to be becoming the reposte of choice for those affected by the worst effects of austerity, and today I read about a case that exemplifies this brilliantly.
/AFP/Getty Images)" data-caption="British Chancellor of the Exchequer George Osborne smiles during a visit to Tata Steel
Weather forecasters have predicted that this year's winter may be one of the coldest on record. While many of us are fortunate to be employed, in a warm and well- heated house, there are millions of people about to face a winter homeless on the streets, unemployed or without support due to policies implemented by the current government.
Chancellor George Osborne hinted at a possible Tory idea to radically ramp up the rate of spending cuts in order to cut the
David Cameron did a good job of changing the way the Conservatives were perceived. He made them electable by painting the picture of a more centre ground, caring, inclusive political party. But this portrait, so carefully rendered, has turned out to be a highly idealised one.
The ten things you need to know on Thursday 7 March 2013... 1) 'I'VE CHANGED MY MIND' Ed Balls has a new and important ally
The UK will borrow £64bn more than expected by 2015 despite Chancellor George Osborne's repeated attempts to control the
Treasury Minister David Gauke has expressed his frustration with the "fiscal nimbyism" of middle class parents who oppose
I find it hard to have a reasoned debate on the role of the state in our political economy - which is what the discussion about size ultimately stems from - on the basis of percentages, or comparisons of percentages between nations/eras.
Does the Bank of England really need to give the government license on this, or is King admitting covertly that the government's austerity programme is not working?
Ed Milband has delivered a short and sharp riposte to the leader of the Unite union, Len MccLuskey, who had criticised the
PRESS ASSOCIATION-- The Government saved £3.75 billion in less than a year by cutting jobs, axing projects and reining in
Ed Balls has accused George Osborne of "undermining growth" and his own credibility ahead of Tuesday's GDP figures. The shadow