Bank of England

Verdict: Dreadful

Alison McGovern MP  |  28 November 2016

Alison McGovern has five things you need to know about the autumn statement and what it means for Brexit Britain ‘One cannot stress enough how dreadful this is’. That was the verdict of Paul Johnson, head of the independent Institute for Fiscal Studies on the dire economic future that was revealed to us on Wednesday …

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The mantle of credibility

Kitty Ussher  |  29 October 2015

Trust in Labour on the economy was hard won, deserved, then needlessly lost, suggests Kitty Ussher The Blair government won office after 18 years in opposition. Unlike its predecessor Labour governments, it was not met by a dip in the stock exchange but instead heralded a decade of continuous growth. The government set to work …

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Deflation danger

Sally Keeble  |  21 September 2015

The general gaiety over Jeremy Corbyn’s leadership obliterated discussion of last week’s worrisome inflation figures. They should have been our first line of attack against the Tory government. Zero inflation might be assumed to be a good thing by a generation brought up on horror stories of inflationary spirals. But that is to fight the …

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Super Thursday – what it means for politics

Stephen Beer  |  6 August 2015

The Bank of England today once again held interest rates at 0.5 per cent. The Bank’s interest rate has not changed since March 2009. There was some expectation that the Bank might suggest a rate hike was close at hand but instead its inflation report has left some commentators with the impression that rates are …

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The structure of our economy is broken

Barry Gardiner MP  |  4 August 2015

An efficient economy does not perpetuate the misallocation of capital – it punishes it. The structure of our economy is broken. The governor of the Bank of England calls it the tragedy of the horizon, that point beyond the standard market outlook of 2-3 years where companies fail to anticipate and account for the impact …

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Equal to Bank of England independence?

John Woodcock MP  |  3 July 2014

Politics is prone to hyperbole but it is no exaggeration to say that the creation of an independent infrastructure commission could turn out to be the defining achievement of the next Labour government. John Armitt’s brainchild could be our equivalent of Bank of England independence, a huge structural reform that brings long-term benefit to the British …

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Wheels coming off the wagon

Ross MacRae  |  21 February 2014

It’s been a pretty big few weeks in the referendum debate. The arguments around the currency and membership of the European Union that have been rumbling along since mid-2012 have come to a head in what’s being described as the nationalists’ worst period of the campaign. First, all three candidates to be the next chancellor …

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Introducing a healthy scepticism into spending

Stephen Beer  |  23 September 2013

Ed Balls gave an uplifting speech at Labour conference, focusing the economic debate on the squeeze in living standards. Even before conference, Labour had been successful in shifting the debate on the economy to a more focused debate on what, if anything, the latest recovery means for most people. We need to continue to work …

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Inflating expectations

Stephen Beer  |  8 August 2013

The market reaction to the Bank of England’s latest Inflation Report was muted on the day. Nevertheless, the report has probably given economic optimism at least a short-term boost. The country needs a One Nation economic policy to make sure everyone benefits from rising economic growth. The August Inflation Report was keenly awaited because it …

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In review: Budget 2013

Stephen Beer  |  20 March 2013

George Osborne gave his budget speech having seen his economic credibility eroded over the past year, although he remains in a stronger position than the circumstances suggest he ought to be. Growth was promised as the reward for harsh austerity but it has yet to arrive. The Office for Budget Responsibility has once again revised …

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