Economic Prospects for 2017: Andrew Simms – New Economics Foundation

Posted Posted in Bank of England, Banks, Books and articles, Economics, Finance, Renewable energy

              As John Nightingale who sent the link says, this ‘reads well’:  Each year the Financial Times conducts a survey of leading economists on the UK’s upcoming prospects. The New Weather Institute is part of that survey and predicts a bumpy ride. A lot of the FT material sits behind a paywall, so for interest here are the answers we […]

Interest rates in the UK. Heading up

Posted 2 CommentsPosted in Bank of England, Banks, Democracy, Economics, Economy, Statistics

Mainstream economic commentators are currently anticipating an upward movement in interest rates in the UK. Many even anticipating it to occur in the immediate run up to the General Election. However, rates paid by borrowers in the UK are already some of the highest in Europe.  And the lending rates are until very recently clearly lower. Here is my latest comparion […]

Should QE now be used for the common good – extending and adapting the work of Birmingham Energy Savers?

Posted Posted in Bank of England, Banks, City council, Devolution, Economy, Employment, Energy, Environment, Finance, Green New Deal, Import substitution, Local economies, Localisation, Low carbon, Manufacturing, Planning, Politics, Renewable energy, Transition, Transport

. Quantitative Easing currently benefits the non-bank financial sector, commercial banks and the Treasury Under QE, Hansard evidence informs us, the Bank of England’s Asset Purchase Facility purchase of just under £375bn of government bonds from the non-bank financial sector has led to a lowering of long term interest rates. The non-bank financial sector and commercial banks now hold more […]

A Very British Coup – How the Bank of England brought us Austerity

Posted Posted in Bank of England, Banks, Economics, Finance, hung Parliament

Alistair Darling explains a crucial moment in the fall of Gordon Brown in his book Back from the Brink. He explains how as Chancellor he decided to keep Mervyn King on as governor of the Bank of England in 2008. ‘I told Gordon my view, that Mervyn should stay, and with some reluctance he aquiesced. I don’t think that he […]

An important recommendation from Andrew Lydon in Birmingham and Andrew Hilton in London

Posted Posted in Bank of England, Banks, Economics, Economy, Finance, Government, Transition

Andrew Lydon (WM New Economics Group and Localise West Midlands) has long stressed the vital importance of giving a fair return to savers in his presentations and the latest LWM blog: Long before the Governor of the Bank of England claimed he heard that the big banks were rigging the now famous LIBOR, we were pointing out how the banks […]

Interest rates being rigged – what the Parliamentary Banking Commission should be looking into

Posted Posted in Bank of England, Democracy, Devolution, Economy, Energy, Finance, Government, Inflation, Local economies, Politics, Regional economies

Since Christmas we have published a number of blogs looking at everyday interest rates in the UK. Long before even the Governor of the Bank of England claims he heard that the big banks were rigging the now famous LIBOR, we were pointing out how the banks were squeezing us all. Savers in the UK were being offered derisory returns, […]

The nation`s money could be controlled and directed in the public interest

Posted Posted in Bank of England, Banks, Economics, Economy, Finance, Government, Planning, Politics, Transition

In the Financial Times today, James Skinner, a trustee of the Organic Research Centre and new economics foundation, clarifies points arising in the call for a debate to take place on “ultraradical policies” for “boosting aggregate demand, (“UK needs to talk about helicopters”, October 13). It should start from a clear statement and understanding of how new money is currently […]

Turn the economy round: release funding for real projects

Posted Posted in Bank of England, Banks, Economics, Economy, Employment, Finance, Government, Low carbon, Manufacturing, Planning, Politics, Renewable energy, Transition

. Richard Murphy for Tax Research UK advocates positive action by government . Points made in January are just as relevant today 30% of all government debt is owned by the Bank of England – which is government owned – so debt is not as high as the Tories claim and the need for debt reduction not as pressing as […]

Housing reflation and housing inflation – Alternative inflation …

Posted 3 CommentsPosted in Bank of England, Housing, Inflation, Politics, Regional economies

As this is being written, in 2012,  squeezed living standards have been the norm in the UK now for a good many years. The lastest news indicates apparently that the global downturn is taking the pressure off food and energy prices.    Rental prices for housing are still edging upwards although purchase prices are subsiding, and it is only the […]

Could regional banking help to develop flourishing regional economies?

Posted Posted in Bank of England, Banks, Devolution, Economics, Economy, Finance, Localisation, Regional economies, Statistics, Transition, Transport

Regional economic strategy is now being taken more seriously. Localise West Midland’s Andrew Lydon has been examining the collection of regional prosperity and inflation indices in this and other countries for some time and has corresponded with MPs and government departments on the subject.18 months ago the Statistics Authority told the Office of National Statistics to look at setting of […]