In his annual budget speech yesterday, Chancellor George Osborne (the UK’s finance minister) declared that UK economy looks like to be in great shape, and that Britain is “walking tall again”. Jobs are being created, growth is on the up, living standards are improving, the national deficit (as a share of national income) has been halved, and ‘economic security’ is being prioritised.
There is an elephant in the room at the next election that no one will name. It’s not austerity, although it is closely related to it. The elephant is the question that floored Natalie Bennett of the Greens this week, and is the automatic response of any questioner to any proposal that any politician makes, which is: How are you going to pay for it?, writes Richard Murphy in his Tax Research UK blog on 26th February 2015
These should be two of the easiest questions to answer in economics; after all, money is the one thing that we all use in an economy—surely we know what it is, and where it comes from?, writes Professor Steve Keen in Forbes, 28th February 2015