For years, I’ve warned of the dangers of unaffordable government spending commitments, an economy fuelled by cheap credit and QE, and bubbles that will burst, probably the biggest in history. Here’s the briefing: https://stevebaker.info/2022/07/defaulting-on-the-welfare-state/ Read the book: https://stevebaker.info/2022/07/are-we-in-the-largest-bubble-in-history-an-austrian-school-analysis-by-steve-baker-mp-max-rangeley/ Watch the movie:
Read More
I was pleased to attend the Chancellor’s Autumn Statement on Wednesday, in which he announced the biggest collection of tax cuts since the 1980s. The wellbeing of public finances affects everyone in Wycombe and across the UK, which is why three of the five promises made by the Prime Minister […]
Read MoreIt is vital that MPs consider the serious implications of our current public debt commitments and public debt projections. On current projections, the UK will default on its welfare state commitments, including those related to pensions. We must move our debt projections to a sustainable path. The reports that this […]
Read More
Via sharethefacts.conservatives.com, “the choice at the next election in 80 seconds”: The election in May is the most important in a generation, and the choice couldn’t be clearer. It’s between the competence of the Conservatives, with a long-term economic plan that is securing a better future for Britain – or […]
Read More
Amid the conflict, drama and, too often, scandal of politics, it is easy to forget that politicians hope to make a positive difference to the lives of other people. We may disagree about methods but every decent politician wants to lift people out of poverty. One of the five pathways […]
Read MoreThe Daily Mail reports Interest rates: How keeping them at a record low is a deliberate government ploy to pay off its debts: A stealth raid by the Bank of England has stripped savers of more than £170billion, a Money Mail investigation can reveal. By slashing the base rate to a […]
Read More
Few people would tolerate a country in which the poor starved or went homeless and yet in Wycombe food is provided by the One Can Trust and emergency winter shelter by Wycombe Homeless Connection. Last time I divided the social security budget (£207bn) by the number of people in poverty (13m), […]
Read More
This morning in City A.M., Editor Allister Heath writes once again about the lamentable failure of the political and media class properly to inform the public debate on our country’s finances. Referring to a poll asking whether the Coalition is cutting the national debt, keeping it the same or increasing […]
Read MoreOn levels of debt: On the madness of QE and the current economic consensus: On the battle of economic ideas:
Read MoreYesterday, we learned “public sector net borrowing was £0.6 billion in July 2012; this is £3.4 billion higher net borrowing than in July 2011, when net borrowing was -£2.8 billion (a repayment)”. Compared to say May, when we borrowed £17.9 billion, £600 million seems relatively modest. It’s still the gross […]
Read More