Kwasi Kwarteng’s Budget Adventure. Dave Gardner Did the then Chancellor of the Exchequer Kwarteng mention the need for extra borrowing when he presented his tax cutting plans to the House of Commons on 23 September? The answer is NO he didn't - although opposition speakers (including Rachel Reeves) did assert that substantial extra borrowing would … Continue reading The Kwarteng Budget
Kwasi Kwarteng is clearly a believer in animal spirits, or more specifically, the animal spirits of the UK private sector. The term ‘animal spirits’ was used by the economist J. M. Keynes to describe the spontaneous forces of vitality that drive human action. Apparently these animal spirits have been held back by too much taxing and … Continue reading Animal Spirits, Taxing and Borrowing — Editorial
Price of electricity in France and England By Froggy I wanted to find out why my electricity bill here in England is so much higher than that of my relatives in France. Take for example my bill for period ending 31 May 2022: it charges me 29.332p/kWh (= 0.3 euro); my sister’s bill charges her for … Continue reading Electricity in France and the UK
Unleash the animal spirits! The Truss Kwarteng philosophy By Feargus O Raghallaigh It seems to me that many people do not quite get what Truss and Kwarteng are up to, which is attempting to give political and policy expression in government and in power to a religious belief or a religio-economic belief in effect. The core of this … Continue reading Animal Spirits
Text of the mini-budget by Kwasi Kwarteng, called ‘The Growth Plan’ in Hansard, which caused great excitement as well as a drop in the value of the pound, and is already being watered down. See editorial for comment. https://www.gov.uk/government/speeches/the-growth-plan-2022-speech Mr Speaker, Let me start directly with the issue most worrying the British people – the cost … Continue reading The Mini-Budget — Parliament Notes
Labour Affairs 