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So overall, an attempt to centralise decisionmaking over tax, spend and borrowing between France and Germany, as a prelude to doing it across Europe. Which leads me to the Eurobond, the much vaunted silver bullet awaited by many in the markets, the Italians, and are very own George Osborne.
The Chancellor recently derided the Labour leadership candidates as ‘deficit-deniers’, an opinion with which Tony Blair appears to concur. The final chapter of his new book does place him closer to the Coalition Treasury than the economic policies outlined to date by the candidates. Ahead of our Labour leadership hustings on the economy, it’s worth…
In the not-very-funny economics joke, the IMF stands for “it’s mostly fiscal”. That’s a reference to its long-held ideology of forcing developing countries to cut spending and budget deficits in response to almost any financial crisis. It was a sort of cosmic chastity belt on fiscal profligacy. So what better ally for the prospective iron…
The Archbishop of Canterbury attacks the Big Society concept as “aspirational waffle” designed to conceal a “deeply damaging withdrawal of the state from its responsibilities” to the vulnerable.
Ahead of the budget, we already have the start of a Dutch auction between the main parties on bank taxes that seeks to tap into enduring public anger for electoral purposes, writes Faisal Islam.