economic plan b
IMF calls on Osborne to ease up on austerity
The International Monetary Fund (IMF) has cut the UK's growth forecast more than any other major economy and called for the government to spend more to stimulate growth.
Economy to continue flatlining this year
The graph below, produce by Canadian-based bank Scotiabank, shows the evolving nature of GDP forecasts as applied to the UK economy. As we can see, this is the third consecutive year where the consensus for growth has started out at around 2 per cent before gradually being pushed down towards zero as time has passed.
Manufacturing’s ‘winter of discontent’ continues
Claims by the coalition government that the UK’s beleaguered manufacturing sector is beginning to show signs of recovery were dealt another blow this week by the reliable Markit/CIPS purchasing managers' index (PMI), which showed that manufacturing contracted in the first quarter of 2013.
Tories living in the land where the Magic Job Tree grows alongside the Magic Money Tree
This policy will only work in the land where the Magic Job Tree grows alongside the Magic Money Tree that ensures all such jobs are well paid. And that only exists in the head of some policy wonks in Tory think tanks.
Video: Larry Summers nails austerity on Newsnight
Larry Summers nails austerity on Newsnight
Graph showing Osborne’s failure as chancellor
The below graph shows the trajectory of the US and UK economies under both George Bush and Barack Obama and Gordon Brown and David Cameron respectively. It pretty much speaks for itself.