After crying ‘wolf’ for several years, councils are now faced with very real difficulty in balancing their books, warns Nick Clifford. More than 50 years ago, in 1962, there was a hit for Lonnie Donegan called ‘The Party’s Over’. 40 years ago Tony Crosland, then Secretary of State for Local Government, gave a speech to […]
UK productivity is a leadership challenge
This week Bank of England chief Mark Carney – and the University of Manchester’s own Ken Clark – highlighted the problem with productivity that our economy faces. Here Chris Bones offers some solutions. Whilst the coalition government delivered employment and growth it did far less well on productivity. The Bank of England reports that UK […]
Wanted: A post-deficit economic narrative for Britain
The election is over and David Cameron’s new government is poised to pursue its legislative programme. Here Ken Clark explores the economic challenges facing the new Government, and in particular falling productivity. The economy was undoubtedly a crucial part of the election campaign and the eventual outcome. While the Conservatives emphasised the renewed growth, expanding […]
How the high cost of PFI has added to the deficit
The debate on the deficit has been dominated by the cost of bailing-out the banks and the affordability of the welfare state. The impact of expensive PFI contracts should not be overlooked, explains Dr Anne Stafford. No matter who wins the General Election, the next government will have to deal with the growing cost of […]
The redundancy trauma
Around 2.7 million people were made redundant in the UK during the ‘Great Recession’. Dr James Laurence examines the legacy of distrust created by those redundancies. The impact of the recession is the dominant back-drop to the General Election campaign. Politicians from all parties explain their approach to the continuing fiscal deficit. Yet there is […]
All this talk about balancing the budget is …
Remember the Maastricht criteria? No, I didn’t think so. Nor apparently do Britain’s political leaders, based on their manifestos for tackling the UK’s deficit. The Maastricht Criteria were the convergence criteria for European countries that wanted to join the Euro. Agreed in 1992 (including by John Major’s Conservative government) it covered inflation, deficits, debt, exchange […]