With this week’s budget, the Chancellor doubled down on a failed economic model. The government will continue cutting spending into the next parliament, and earlier this week, it was revealed that the Treasury has asked most departments to find an extra 6% of savings.
An interesting paper by Ulrich Volz on the role of central banks in enhancing green finance was published recently, originally on the UNEP website.
It’s hard to believe, but over the last few years, the government has let the Bank of England pump billions of pounds to the very richest, while inflicting cuts on the rest of us.
From 2009 to 2012, the Bank of England created £375bn of new money. In response to potential economic uncertainties arising from the Brexit vote, the Bank of England announced it would expand its Quantitative Easing (QE) programme by an extra £70bn – bringing QE to a total £445bn.