Public sector finance Archives - Page 4 of 7 - Emile Woolf writes

Perplexing times for economists and accountants

The world of economics and business is riddled with anomalies. For example, the UK is enjoying buoyant GDP growth and low unemployment, yet the excess of government spending over income (the “deficit”) continues to grow. Despite so-called “cuts”, 46% of GDP still goes on public expenditure, of which 60% doggedly adheres to welfare, health and […]

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Capital allocation & infrastructure spending: let the markets decide

My summer riverboat cruise from Amsterdam to Budapest along the Rhine, Main and Danube proved to be fully as instructive as it was relaxing. The majestic hilltop fortresses, castles and palatial edifices, erected to keep out tribal hordes, also testify to indulgences pursued by monarchs, princes and bishops over hundreds of years of relentless self-aggrandisement […]

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Sanity will return – In its own time

Everyone knows that the world’s economic woes are soluble. Every leader acknowledges the blessings of free trade, low taxes, sound money and less regulation. Yet their actions, as ever, speak louder than words and somehow achieve the precise opposite. Take “free trade”. It allows cross-border commercial transactions to take place between willing traders unimpeded by […]

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Banking principles? A contradiction in terms

You hardly need an auditor to tell you what you can see for yourself. The unholy trinity of Central Bank, Treasury and the cabal of leading banking institutions has been operating a mutual self-help alliance that has rendered Britain’s banking capability utterly dysfunctional. The banking sector, overjoyed at the prospect of absorbing central bank largesse, […]

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Letter to ‘The Times’ 29 April 2013 on UKIP Budget proposals

Sir, The calculation of UKIP’s so-called funding gap of £120 billion (cuts £90 billion plus extra spending of £30 billion), as  referred to by Jill Sherman on pages 1 and 9 in today’s ‘The Times’, is seriously flawed. This ‘gap’ arises only when measured against the numbers in the present state of our stagnant  economy, and […]

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EU membership – in or out? Think it through, but tread warily

“Expert” is defined as a  person whose research, knowledge and experience accords them the respect of  their peers in a well-distinguished domain. Economics is just such a domain, yet the degree of diversity in the views of  so-called experts can be astonishing. Take one of today’s most topical issues: will a UK exit from the […]

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