If you are a company, you have to include pensions liabilities as a debt in your accounts. However, governments, while … Continue reading “Are Western governments heading for bankruptcy?”

One of the most noteworthy elements of the 2008 Pre-Budget Report was the planned increase in income tax rates to 45% for … Continue reading “The Pre-Budget Report: will Atlas shrug?”

The British government unwisely entered the current slowdown with a sizeable budget deficit. Recent bank bailouts are likely to push … Continue reading “The government should ditch Crossrail to help balance the books”