Monthly Archives: May 2010

Prime Minister Cameron suggests UK Base rates may have to rise

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The Prime Minister has issued a veiled hint that the Bank of England should consider taking action and raise interest rates. According to the Daily Telegraph.
David Cameron said that the rise in the consumer price index to just under 4% in April almost double the Monetary Policy Committee’s (MPC) 2pc target, was starting to concern him.
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Prime Minister Cameron suggests UK Base rates may have to rise

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The Prime Minister has issued a veiled hint that the Bank of England should consider taking action and raise interest rates. According to the Daily Telegraph.
David Cameron said that the rise in the consumer price index to just under 4% in April almost double the Monetary Policy Committee’s (MPC) 2pc target, was starting to concern him.
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No US Treasury tokens left for the Keynesian slot machine.

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On Monday, the Obama administration made a strong plea to Congress to “copper up” and pass a new set of spending measures to help dig the economy “out of a deep valley”. The call for action, by Lawrence Summers, Barack Obama’s senior economic adviser, urged Congress to pass up to $200bn (£138.9bn) in additional spending measures. Congress is being asked to “copper up” again, the problem is there are few tokens left in the US Treasury. Romer and Bernstein have failed to hit the jack pot. Who said economic modelling was difficult, it is.
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UK GDP data Q1 suggest it’s recovery with a V!

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According to latest data from the Office of National Statistics, the UK economy grew by 0.3% in the first quarter, up from an initial estimate of 0.2 per cent, slightly slower than the 0.4pc in the fourth quarter of 2009. What does this actually mean? The figures are in line with a recovery pattern suggesting the UK will emerge from recession in the second quarter of 2010 based on a technical year on year quarter growth definition.
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UK Economy on track for recovery according to latest ONS data.

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According to latest data from the Office of National Statistics, the UK economiy grew by 0.3% in the first quarter, up from an initial estimate of 0.2 per cent, slightly slower than the 0.4pc in the fourth quarter of 2009. What does this actually mean? The figures are in line with a recovery pattern suggesting the UK will emerge from recession in the second quarter of 2010 based on a technical year on year quarter growth definition.
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Coalition programme for government as a “word cloud”

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Coalition Document : This is an historic document in British politics: the first time in over half a century two parties have come together to put forward a programme for partnership government.
Soon we may find out why. The full version is available as a PDF from the Cabinet Office. There are twenty eight pages and over thirteen and a half thousand words.
If you haven’t got the time or the inclination to read the whole thing, here we have condensed the whole document into a world cloud. Thanks to wordle.net
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UK Public Sector Debt April – latest data suggests there should be no rush to cut!

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The Public Sector Finance Data for April was released this week. The main statistics show, that in April 2010: the public sector current budget was in deficit by £9.3 billion. This is £1.7 billion higher deficit than in April 2009, when there was a deficit of £7.6 billion.
The good news in the data set was a further revision to the out turn for 2009/10. The estimated borrowing requirement was reduced by a further £7.5 billion to £145 billion (around 10% of GDP) largely due to tax receipts greater than previously estimated.
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UK Public Sector Debt April – latest data suggests there should be no rush to cut!

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6a0120a69fe94e970c01348177218c970c-320wi.png

The Public Sector Finance Data for April was released this week. The main statistics show, that in April 2010: the public sector current budget was in deficit by £9.3 billion. This is £1.7 billion higher deficit than in April 2009, when there was a deficit of £7.6 billion.
The good news in the data set was a further revision to the out turn for 2009/10. The estimated borrowing requirement was reduced by a further £7.5 billion to £145 billion (around 10% of GDP) largely due to tax receipts greater than previously estimated.
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Chancellor Osborne creates Office of Budget Responsibility

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Chancellor Osborne has established a new independent Office for Budget Responsibility to provide a truly independent assessment of the state of the nation’s finances. Together they will form the Budget Responsibility Committee. With help from a secretariat of civil servants, they will be in charge of making independent forecasts for the economy and the public finances.
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Chancellor Osborne creates Office of Budget Responsibility

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Chancellor Osborne has established a new independent Office for Budget Responsibility to provide a truly independent assessment of the state of the nation’s finances. Together they will form the Budget Responsibility Committee. With help from a secretariat of civil servants, they will be in charge of making independent forecasts for the economy and the public finances.
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