Category Archives: Uncategorized

Social care funding and inheritance tax

The General Election has focused attention on how to fund ‘social care’.  This is money spent looking after people at the end of their lives when they are not able to look after themselves. The Conservative Party manifesto included the … Continue reading

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Does it ‘cost’ anything to nationalise a company?

Labour’s manifesto reveals that they intend to re-nationalise water companies if they are elected.  How much would this ‘cost’? was many people’s response.  For example, the BBC’s Laura Kuenssberg noted that a ‘costing’ of this policy was omitted from the … Continue reading

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Imagining that how to spend the BoE missing stimulus was the GE2017 centrepiece

Myself and many others have suggested that in order to help out monetary policy when interest rates reach their effective lower bound [around 0], there should be a discretionary fiscal stimulus. My version of this is that the BoE would … Continue reading

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What use Eurozone integration?

Martin Sandbu posed an interesting question in his Free Lunch column this week:  What can a common treasury achieve that existing institutions and national authorities can not? The question was by way of warding off French President-elect Emmanuel Macron from demanding … Continue reading

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Labour’s leaked manifesto and fiscal rules

If the document being described as a leak of a draft of the Labour manifesto really is that, the section on fiscal policy, tweeted by Robert Peston, is interesting. It contains the encouraging suggestion that HMT rules would be suspended … Continue reading

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FTAlphaville and optimal currency areas.

There are a lot of talking points in this fun post on FTAlphaville by Matthew Klein. The piece is a spirited defence of the idea of returning to the gold standard, based on logic that Martin Sandbu uses as a … Continue reading

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A National Minimum Wage probably should be set to reduce employment

Thanks to Alan Beattie at the FT for prompting me to think about this. He tweeted an extract from the mandate of the UK’s ‘Low Pay Commission’, which sets a UK NMW.  This extract states that the aim is to … Continue reading

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