Economics

By Joe Mellor, Deputy Editor Another day another claim about Brexit, and what could happen to the UK economy if we decided to leave. Today was the turn of the IFS (Institute for Fiscal Studies) who have said that leaving the EU would mean the Treasury would have to slash billions of pounds from British welfare and public services. The IFS believe that in the case of a “Brexit” there would be years of austerity and tax rises, which would...

"When corporations sit above Government, we are in big, big trouble." You have probably already heard and read about TTIP, but maybe you aren't quite sure how it will effect you? In a nutshell, TTIP stands for the Transatlantic Trade and Investment Partnership. TTIP is a proposed deal between the EU and the US aimed at making it easier for the world’s two biggest economies to trade, leading to a projected increase in income for both continents. TTIP sets to make trade...

By Joe Mellor, Deputy Editor Generous tax breaks have helped create a “shadow” welfare state for the 20 per cent wealthiest in the UK, research has revealed. The Fabian Society believe these high earners will take almost the same as the worst off fifth take in benefits. The Fabians’ general secretary, Andrew Harrop, indicated his research illustrates the latest Budget was another step in remodeling the welfare state as we know it. This shift has moved resources from the poorest...

By Prof Mary Mellor The justification for austerity is that the public sector must live within its means. There is a plausibility in the claim that the state is like a household that should not spend more than it earns. This kind of ‘handbag economics’ draws its analogy from a mythical household. Real households do not live within their means. If they did the economy would grind to a halt. Modern prosperity is built upon debt and the main aim...

By Joe Mellor, Deputy Editor Tory Minister Anna Soubry made a shock admission as pressure grows to save the port Talbot steel plant. Business minister Soubry says 'temporary ownership' of Tata steel's assets could be an option. This comes as the company made the shock decision to put up for sale the loss making arms of its UK operation. The Tory minister said there is "huge sympathy" for the steel giant, but also added it is losing £1m a day....

By Joe Mellor, Deputy Editor This is an animated interview with IMF whistleblower John Perkins, author of "Hoodwinked" and "Confessions of an Economic Hitman." This short film manages to squeeze in a lot of information into a couple of minutes. Have a watch and see if you agree with his theory. Watch Video Here

By Joe Mellor, Deputy Editor The global stock markets have had a tough time of late and the largest corporations in the world dwarf some countries stock market valuation. For example Google and Amazon have a combined worth of $747bn, Netflix is $40bn and McDonald’s is around $109bn. These figures are pretty hard to get your head around, so Bank of America Merrill Lynch has created a map to help illustrate the size of these companies compared to stock markets...

By Joe Mellor, Deputy Editor A recent report for PWC (PricewaterhouseCoopers) for the CBI claims that the economy faces serious damage if the UK opts for Brexit. If the UK moved out of the EU it would shock the UK economy, which could see up to 950,000 job losses and make the average household £3,700 worse of by 2020, the report warns. The analysis by PWC also said Leaving the EU could cost the UK economy £100bn (equivalent of 5%...

By Joe Mellor, Deputy Editor A Tory wheelchair user, who has voted Conservative for 40 years, handed in his membership in protest after yesterday’s budget. He claimed the party is “destroying lives.” Graeme Ellis even went so far as to sabotage his own party’s website, in disgust at Osborne’s cruel budget and the damage it will do to disabled people. Ellis a disability campaigner took the entire website of the Conservative disability group with him, in its place he left...