The minority UK Conservative government is under pressure to loosen the fiscal purse strings. Does that mean the dream of balancing the budget remains no more than a dream? Who would benefit? Will taxes have to rise? And what are the risks? Cardiac arrest in the Gilts market is a real possibility.
Boris Johnson opines that the public sector pay cap of one percent per annum should be scrapped. Michael Gove believes that the British people need a break. Numerous other Tory luminaries have also recently told Chancellor of the Exchequer Hammond that he should ease up on closing the deficit and cut the nation some slack. In other words – borrow more than he is borrowing already and bung some dosh in the direction of local government, the NHS, and any other spending department with a sob story to tell.
Since the election, the Tories, still in government but clinging on for dear life, are running scared. Some think that they might buy popularity – and time – by easing up on the aim of balancing the books by 2025. This objective, and the cheese-paring of spending commitments associated with it, generally goes by the name of austerity.
by Evil Knievil| Evil Diaries| 1 mins. to read One must be clear that lending money is not easy. It is necessary to judge the propensity of the debtor to repay. Many people think that this is easy whereas in fact it is not. However, throughout history people have been hard at it.
by Nick Sudbury| Funds| 7 mins. to read Listed Private Equity funds have delivered strong returns in the last few years, but despite this most are still trading on double-digit discounts. Many investors have been reluctant to return after the poor performance during the 2008 financial crisis, although the fundamentals across the sector are now much stronger.
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