By Edward Hadas
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Sweden's centre-left administration is on the brink just two months into office after a far-right party announced it would side with the centre-right opposition to vote against the 2015 budget. The anti-immigration Sweden Democrats, who are shunned by all other parties in the Riksdag, holds the balance of power.
Given the silence that attends Bank of England policy meetings which result in no change of course, today’s quarterly inflation report is the main chance to hear the latest thinking. Governor Mark Carney will talk to the media for an hour or so after its release.
Britain’s government budget released this week is not a statement of economic policy. It is a program for winning next year’s general election.
A central pillar of George Osborne’s 2014 budget was the announcement that pensioners will no longer have to buy an annuity upon retirement and that they would have more control of their pensions pots, including the freedom to withdraw cash without incurring penalty tax changes.
--Dr Richard Wellings is Deputy Editorial Director at the Institute of Economic Affairs. The opinions expressed are his own.--