British public sector borrowing rises higher than expected

British public sector borrowing rises higher than expected Economists say government appears to be struggling to reduce deficit in line with targets as borrowing hits £13.3bn in May.
Continue reading…

Enjoyed this post? Share it!

 
 

Bank of England leaves QE and interest rates unchanged

Bank opts not to pump new money into UK economy, saying it will not add to its £375bn quantitative easing programmeThe Bank of England has opted not to pump new money into Britain’s stagnant economy, despite a remit that gives it clearer leeway to disregard above-target inflation.The central bank said it would not add to […]
Continue reading…

Enjoyed this post? Share it!

 
 

The cult of the superstar banker is alive and well | Nils Pratley on Saturday

• Bankers’ elite club largely intact• Institute of Directors speaks out• How to unwind QE• Betting against the PruFive years ago this week the banking crisis became serious. March 2008 saw the collapse in the US of Bear Stearns; Lehman Brothers would fail six months later. A good moment, then, to ask what has changed […]
Continue reading…

Enjoyed this post? Share it!

 
 

Austerity till 2018? Britain’s economy is being crucified on the cross of ideology | Michael Meacher

The state is capable of kickstarting the economy, but a dogmatic George Osborne can’t bring himself to do what it takesIt gets worse. The IFS is today predicting that austerity will now extend to at least 2018 – a lost decade, as Japan had. One has to ask: how much worse must it get before […]
Continue reading…

Enjoyed this post? Share it!

 
 

UK economy faces long and winding road to recovery, warns Mervyn King | Larry Elliott

Bank of England governor swaps usual sporting metaphor for Beatles song as he outlines Britain’s gloomy prospectsFor once Sir Mervyn King struggled to find an appropriate sporting metaphor to sum up the current state of the economy when presenting the Bank of England’s inflation report.Instead, he revealed a hitherto hidden knowledge of the Beatles to […]
Continue reading…

Enjoyed this post? Share it!

 
 

Economy has slowed sharply, NIESR says

Unexpectedly weak performance of industry makes a ‘triple-dip’ recession look increasingly likely, analysts sayThe pace of growth in Britain’s recession-scarred economy slowed sharply in the autumn, the National Institute of Economic and Social Research predicted on Tuesday, after official figures revealed a 1.7% drop in industrial output in September.The thinktank’s latest forecast, published on Tuesday, […]
Continue reading…

Enjoyed this post? Share it!

 
 

Economy has slowed sharply, NIESR says

Unexpectedly weak performance of industry makes a ‘triple-dip’ recession look increasingly likely, analysts sayThe pace of growth in Britain’s recession-scarred economy slowed sharply in the autumn, the National Institute of Economic and Social Research predicted on Tuesday, after official figures revealed a 1.7% drop in industrial output in September.The thinktank’s latest forecast, published on Tuesday, […]
Continue reading…

Enjoyed this post? Share it!

 
 

Quantitative easing ‘experimental’, says top civil servant

Treasury mandarin tells MPs emergency measure likely to have helped economy but admits full impact is unknownThe Treasury’s most senior civil servant has told a committee of MPs that pumping hundreds of billions of pounds worth of cash into the economy as an emergency measure was an “experiment” and the results may not be known […]
Continue reading…

Enjoyed this post? Share it!

 
 

UK expected to emerge from recession on back of Olympics bounce

Analysts expect a 0.6% rise in GDP, lifting the economy out of the longest double-dip recession since the second world warBritain is this week expected to emerge from recession, with the Olympics providing a much needed boost to the economy in the third quarter. Analysts expect a 0.6% rise in GDP, lifting the economy out […]
Continue reading…

Enjoyed this post? Share it!