Andy Westwood assesses a political transformation in the wake of the Autumn Statement. 2012 really was a big year for Britain. Politically, it was the moment that George Osborne tanked. First with the ‘Omnishambles’ Budget and its ill conceived Granny and Pasty taxes and second with a round booing at the Olympic Park. But it […]
Lucky Chancellor?
The day after George Osborne’s Comprehensive Spending Review, Diane Coyle picks out the winners and losers. One of the most important attributes a Chancellor of the Exchequer can have is to be lucky. Lucky, that is, in all the aspects of the economy that are outside the control of the government – which is most […]
SR2015: £35bn on debt interest? But what about the £375bn held by the Bank of England?
More fast reaction from Colin Talbot to the Comprehensive Spending Review 2015. One thing has puzzled me since the introduction of “Quantitative Easing” (QE) in 2009. Between then and 2012 the Bank of England ‘bought’ £375bn of government bonds from their previous private sector owners. This is a pretty sizeable chunk of the total Government […]