2 thoughts on “Hammond should ignore siren calls for more fiscal stimulus and develop a real strategy for growth”

  1. Posted 31/07/2016 at 14:25 | Permalink

    An eye-catching headline which necessitated an immediate read. A very lucid report damning a poorly researched Oxfam letter backed by 100s of economists ; that offshore tax havens faciliate dispersal of investment funds to developing nations, thus bypassing the hugely complex mishmash of the international tax system makes complete sense. Something that never occurred to me.

  2. Posted 01/08/2016 at 07:45 | Permalink

    It’s not the fiscal position that warrants concern. Instead it’s the external deficit, which would be made worse by adopting unilateral free trade,(as well as undermining the UK’s negotiating power in forthcoming trade deals with the rest of the world).

    It seems inconsistent to frown on one type of deficit (the government’s) and then to simultaneously encourage profligacy in respect of the other deficit, namely the current account deficit (which has to be financed either by borrowing from foreigners or by flogging our assets to them).

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