George Osborne

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The winds of change are shifting

Ben West  |  16 August 2016

In the final six months before 2010’s general election, something strange happened. Amid the global recession, the Labour government had intervened heroically to keep the economy afloat, spending whatever was necessary to stabilise the banks and to maintain consumer confidence and employment, investment and spending. Barely a week would go by without new investment – …

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Defeat for George Osborne

Rachel Reeves MP  |  2 July 2016

George Osborne is trying to clear the decks for the new Tory leader by getting the government’s mistakes out of the way now. Yesterday he signalled that his great mission of delivering an overall budget surplus by 2020 was to be consigned to history less than a year after he had first promised it. He failed to …

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James Callaghan

Saving the ‘lost generation’

Clive Soley  |  16 June 2016

We must not let history repeat itself In May 1979 the defeated prime minister, James Callaghan, said to me that he felt sorry for new members of parliament like myself as we would be in opposition for 10 years. He was wrong. It was 18 years. Callaghan thought the arrival of North Sea oil and …

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Alistair Darling

Tory Leavers have repudiated their own economic policy

Stephen Beer  |  16 June 2016

George Osborne and Alistair Darling have stated that if the United Kingdom votes to leave the European Union, there will need to be an emergency budget. Not surprisingly, their claim has been criticised by the Leave campaign, but the central point is surely correct whether or not we are adherents to the austerity cult. The …

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Steady growth or a slowing economy?

Peter Hain  |  18 April 2016

Kitty Ussher has been looking at the UK economy through rose-tinted spectacles in her surprisingly over-optimistic assessment of Britain’s growth prospects under George Osborne. Ussher says that ‘the economy is in good shape’ and that the Office for Budget Responsibility ‘expects it to keep growing steadily’. In reality the UK economy is losing momentum, not cruising along comfortably. …

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Taxing questions for the chancellor

Rachel Reeves MP  |  15 April 2016

The leaked Panama Papers shone a light on the murky world of tax havens and will have far-reaching implications across the world. People are rightly angered that a super-rich elite strive to avoid or evade paying their taxes. David Cameron’s use of an offshore trust was eventually dragged out of him when he published his …

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Foodbank

The four-year deep freeze

Stephen Timms MP  |  15 April 2016

Last week, with no fanfare, the government’s four-year freeze on benefits began. It was the week in which the tax credit cuts would have kicked in, if parliament had allowed George Osborne to go ahead. But other cuts, like the new freeze, have gone ahead. The reduction in universal credit equivalent to the tax credit …

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The good, the bad, and the unpredictable

Kitty Ussher  |  12 April 2016

The threat of Brexit aside, the economy looks set to continue improving, says Kitty Ussher Regardless of the politics of the matter, the main news from last month’s budget is that the economy is in good shape. Of course, that is not to say there is not room for improvement, or that our country is structured …

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The Insider April 2016

Horsing about

The Insider  |  6 April 2016

In just five days, George Osborne’s budget delivered a cabinet resignation, a Labour poll lead and a total reversal on welfare. This meant Labour members of parliament returned to Westminster the following Monday in an unusually optimistic mood. This positivity lasted until 30 seconds into Jeremy Corbyn’s speech in the House of Commons that Monday afternoon. Not only did Corbyn fail …

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The March megashambles

Seema Malhotra MP  |  31 March 2016

We need prosperity that is fairly shared You might have thought George Osborne would have learned a lesson from his 2012 omnishambles budget. Not a bit of it. He surpassed himself with a megashambles. No budget has unravelled as quickly and as comprehensively as this one did. Within a couple of days its main revenue-raising …

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