The Great Debate UK
from UK News:
Treasury tables challenge notion of a ‘progressive’ spending review
During his speech to the House of Commons announcing how he would cut government spending, Chancellor George Osborne insisted that the richest 10 percent of Britons would bear the brunt of austerity measures.
But a glance at the tables in the Treasury's own Spending Review report suggest a different picture.
Chart B.5 on page 99 of the report shows that - taken on its own - the Spending Review, which includes benefits and welfare cuts, will affect the poorest 10 percent of the population the hardest. Only by including Budget measures do the top 10 percent come off worst.
The Conservatives have pushed aggressively the notion that 'we're all in this together', but, as public service cuts bite and jobs are lost, fewer and fewer people may be convinced.
from The Great Debate:
Europe frets over crisis exit strategy
-- Paul Taylor is a Reuters columnist. The opinions expressed are his own --
Higher taxes? Lower public spending? Devaluation? Inflation? Investment in green growth?
European governments are pointing in very different directions as they debate an exit strategy from the global financial crisis. Despite European Union efforts to coordinate economic policy, there are clear signs that the main European economies will charge off in disarray towards separate exits.
from UK News:
A profound shift in party politics
David Cameron's decision to ditch a major Conservative pledge to match Labour spending plans pound for pound was hailed by commentators as an important step in the politics of the recession, opening up a clear gulf between the two main parties' economic policies but exposing the Tories to considerable risk.
Labour is expected to cut taxes, accelerate public spending and announce more borrowing in Monday's pre-budget report. Now their supporters can revive the spectre of "Tory cuts" to funding for schools and hospitals which helped the Conservatives lose the last two elections.
