A shocking survey of 2,000 UK adults revealed 43 per cent are short of the cash they need to pay the bills an average of seven months each year. But one quarter said money is an uphill battle for them every single month.The average adult is forced to turn to their credit cards or overdraft to get them through to payday four out of every 12 months, with one in 10 saying this is the case each month.Six in 10 even went as far as to say they feel they are never going to make ends meet on their...
Read More »Tim Wallace — UK economy ‘must get more efficient’, says IMF
Britain must make sweeping reforms to pensions, the planning system, infrastructure, education and training, and research and development if it wants to boost economic growth in the years to come, the International Monetary Fund has warned. Productivity and GDP growth have been relatively weak since the financial crisis, compared to historical levels and relative to other rich economies. They will stay that way unless serious action is taken.... The TelegraphUK economy ‘must get more...
Read More »Bill Mitchell — Britain doesn’t appear to be collapsing as a result of Brexit
Do you remember back to May 2016, when the British Treasury, which is clearly full of mainstream macroeconomists who have little understanding of how the system actually operates released their ‘Brexit’ predictions? The ‘study’ (putting the best spin possible on what was a tawdry piece of propaganda) – HM Treasury analysis: the immediate economic impact of leaving the EU – was strategically released to have maximum impact on the vote, which would come just a month later. Fortunately, for...
Read More »Bill Mitchell — British Tories reject the ‘free market’ neoliberal myth
The conservatives in the British Labour Party are obviously worried. The UK Guardian article (December 2, 2017) – Labour faces subversion by Momentum and far left, says Roy Hattersley – reports the claim by former Deputy leader, Roy Hattersley that British Labour is “facing the biggest crisis in its history” because left-wingers are engaged “in a systematic takeover of the party”. Gosh. Sounds shocking. A traditionally left-wing political party slowly wresting it back to mission after being...
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