UK News

Insights from the UK and beyond

The private sector vs. definitions of fairness

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– Ingrid Smith is Business Planning Editor,  Reuters Consumer Television –

Sitting in the auditorium of the London School of Economic’s Old Theatre earlier this month, I listened to Lord Turner pose the question – in rich societies is there a clear correlation between increased wealth and human well being?

An apt question indeed from the chairman of the soon-to-be-defunct UK Financial Services Authority, in light of the UK coalition government’s austerity review.

On the international stage, the OECD has described the spending review as “tough, necessary and courageous.”

Treasury tables challenge notion of a ‘progressive’ spending review

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BRITAIN-SPENDINGDuring 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.

Is there a Plan B for the government?

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BRITAIN-BUDGET/

Our Reuters/Ipsos MORI poll is likely to make cheery reading for Britain’s Labour party.

For the first time since January 2008, they are level pegging with the Conservatives in terms of popular support; for the first time since May’s general election, more people are dissatisfied with the government than are pleased with it, and – perhaps most heartening of all for the opposition – three-quarters of the public would rather see slower public spending cuts than swift ones. And all that without Labour even having a leader.

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