Commentaries

Sarkozy looks to stash some cash under the mattress

By Paul Taylor
September 30, 2009

nainOn the face of it, France’s 2010 budget is just what the G20 doctor ordered. No early withdrawal of economic stimulus spending. Allowing the welfare system’s ”automatic stabilisers” to absorb the shock of the economic crisis. No raising of taxes or slashing of public spending until growth returns. A small shift away from tax on business towards taxation of carbon.

What next – legislation to control the weather?

September 28, 2009

Golly, why didn’t someone think of this before? The UK’s Labour government is to introduce a Fiscal Responsibility Act, which will require the administration of the day to reduce the Budget deficit year-on-year “ensuring that the debt remains sustainable in the medium term”.

California hosts garage sale to raise funds

August 26, 2009

California Governor Arnold Schwarzenegger is pulling out all the stops with the state’s “garage sale” of unclaimed or unneeded merchandise. The idea came to him via a “tweet,” he’s using his Hollywood cache to juice bidding and it’s all in the name of belt tightening.