How sterling lost a fifth of its buying power in four years
Talk of “once in a generation” spending cuts to curb Britain’s budget deficit pushed sterling lower again today, prompting currency exchangers to point out how much worse off holidaymakers overseas...
View ArticleFinancial security: Britain beats Egypt but lags behind Brazil
Fears about whether spending cuts can reduce Britain’s budget deficit and avoid a Greek-style debt crisis will not eased by a new international risk analysis which ranks the UK as more secure than...
View ArticleBravo Chancellor Osborne: you have saved Britain in the nick of time
Eurostat’s latest horrifying report reveals that public spending in Britain rose to 51.7pc of GDP in the final year of Brownism. This is the highest in British history, and higher than that of Germany...
View ArticlePlease read this before trying to claim the Government is not cutting spending
Depending on who you listen to, Britain is facing either a spending squeeze the likes of which we haven’t seen since the 1920s or a healthy 9pc increase in Government spending over the course of the...
View ArticleHow safe is the cash in your wallet?
About a tenth of the £20 notes in circulation, worth a total of £30bn, will cease to be legal tender at midnight the day after tomorrow – Wednesday, June 30. But what about other banknotes in your...
View ArticleIreland's love affair with masochism
A more shocking set of numbers is hard to imagine. The latest bailout package for Ireland's insolvent banks will raise the nation's budget deficit from an already alarmingly high 12 per cent to a jaw...
View ArticleAmerican debt fears prompt revaluation of risk and reward
Fears that Barack Obama and the US Congress may prove unable to agree terms to legally extend America’s debts or tackle budget deficits may force investors to reconsider conventional notions of risk...
View ArticleLet's enjoy our safe haven status while we can – it won't last
The UK Government likes to think of gilt yields at near historic lows as a mark of Britain's new found "safe haven" status, and up to a point it's right. See the chart beneath (once again apologies for...
View ArticleSpain – an object lesson in why low yields don't mean it's safe to borrow more
The Chart here is drawn from a Policy Exchange report in early 2010, which argued that if the UK did not cut spending early that could be a threat to growth, even in the short term. You can see that in...
View ArticleGordon Brown's fiscal profligacy finally outed
As head of the independent Institute for Fiscal Studies, Robert Chote was a more or less perpetual thorn in the side of Gordon Brown's chancellorship, repeatedly criticising government policy for the...
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