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National Insurance Fund: No quick fix

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This post is by Tim Hewish, my Parliamentary Assistant. A number of Steve’s constituents have written to him regarding the National Insurance Fund (NIF).  The Fund was flagged in the media when it lost £4.5bn back in March which is the first time since 1993 that it had decreased. This was largely attributable to an increase in benefit payments and a reduction in National Insurance contributions. The argument being advocated by a select number of pension lobby groups is that the NIF […]

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The APPG on Economics, Money and Banking

I am delighted that today I was relected Chair of the All-Party Parliamentary Group on Economics, Money and Banking.  Mark Garnier MP continues as Vice Chair and Alun Cairns MP has agreed to be Secretary. I founded the Group to provide a forum through which diverse ideas on economics, money and banking could be introduced into Parliament. Our events have included: A panel discussion on Britain’s Trillion Pound Horror Story. A panel discussion with Andrew Lilico and Tim Congdon. A discussion […]

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Detlev Schlichter in Parliament today

Via The second crisis of socialism: The world is facing the worst financial crisis since at least the 1930s “if not ever,” the Governor of the Bank of England said last week when he explained to an increasingly sceptical and weary public the Bank’s decision to print yet more fiat money and use it to buy yet more government bonds. I doubt that his words or his actions will do much to restore confidence. And they will not mean an […]

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Three political economies debated in Parliament

Last week, I chaired what turned out to be a passionate, courageous and grounded debate between three intellectuals from each point of the political triangle: conservative, classical liberal and social democrat. Dr Mark Pennington set out the inescapable reality of imperfect knowledge and incomplete rationality in human actors in defence of markets. Richard Murphy argued for a “cappucino” of state and market, flat rejecting neoliberalism. Jesse Norman MP critiqued the flaws in the theories of neo classical economics and completely […]

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