Tories and Labour would both struggle to stay in borrowing limits – thinktank | Politics

Boris Johnson’s election spending pledges have left a Conservative-led administration with a slender chance of staying within its borrowing limits if it returns to power, according to a leading thinktank. The extra costs of employing 50,000 more nurses and increasing the national insurance personal threshold to £9,500 would leave the “smallest headroom any chancellor has […]

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After years of excess in privatised utilities, of course Labour wants to renationalise | Business

We knew that Labour’s manifesto would be nationalisation-heavy but there were still late surprises. Openreach, BT’s broadband division, was added to the list in the final stages. And, more quietly, the big six household suppliers of gas and electricity were included within reforms for the energy sector; previously only the grid and the networks, which […]

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In uncertain times, a museum of money is a sure-fire winner | Business

What Britain needs is another museum. No, really. Amid all the hand-wringing about whether Britain’s economic destiny lies in or out of the European Union, there is a clear need for a place to visit that can help people discover how money works. A Brexit deal may have been passed and this election will be […]

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UK growth will dip to 1% even if no-deal Brexit avoided, warns OECD | Business

The UK’s GDP growth rate will slip to 1% next year even if a no-deal Brexit is avoided, according to the Organisation for Economic Development and Cooperation. The OECD said the economy would slow down from growth of 1.2% this year if parliament passes Boris Johnson’s Brexit deal before the 31 January deadline, before returning […]

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Labour would rewrite rules of UK economy, says John McDonnell | Politics

John McDonnell has promised that a Labour government would “rewrite the rules of our economy” as he announced radical reforms to business regulation that he said would help workers to “take back control”. In a speech that made a series of attacks on corporate excess, the shadow chancellor also ruled out imposing a windfall tax […]

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Remembering the recession: ‘The 1990s experience changed my view of the world’ | Business

When John Andrews was 51, he lost his job. It was the early 1990s, Bob Hawke was prime minister, Paul Keating treasurer, and Australia was in deep recession. Unemployment was close to 11%. Andrews was just one of the many, suddenly out of work after three decades working in IT. “As the saying goes, they […]

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Labour’s free broadband plan fires up the election battle | Politics

The prime minister attacked Labour’s ambitious plan to nationalise part of BT and provide free broadband across the UK as a “crazed communist scheme” on Friday, amid a furious backlash from business. Labour believes the plan, part-funded by a tax on internet giants such as Facebook and Google, is a vote winner, combining a consumer-friendly […]

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Today’s weak economy shouldn’t aid the Tories: but that was true in 1992 too | Business

Despite one or two scares along the way, the UK has not suffered a recession since the deep slump of 2008-09, but it came close to one this year. The economy contracted in the second quarter and for a while there were fears that it could do so again in the three months to September. […]

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If we’re serious about changing the world, we need a better kind of economics to do it | Esther Duflo and Abhijit Banerjee | Opinion

In 2017, a poll in the UK asked: “Whose opinion do you trust the most when they talk about their field of expertise?” Nurses came first – 84% trust them. Politicians came last. Economists were second from bottom on 25%.This trust deficit is mirrored by the fact that the consensus of economists (when it exists) […]

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When recession comes, expect central banks to rewrite the rules | Nouriel Roubini | Business

A cloud of gloom hovered over the International Monetary Fund’s annual meeting this month. With the global economy experiencing a synchronised slowdown, any number of tail risks could bring on an outright recession. Among other things, investors and economic policymakers must worry about a renewed escalation in the Sino-American trade and technology war. A military […]

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