The UK Government’s budget deficit for this year will reach 19 per cent of GDP for 2020/21, according to Chancellor Rishi Sunak. It’s worth reflecting on that figure in the context of the Scottish independence debate. For years, we have been told by opponents of independence that a prospective budget deficit in an independent Scotland […]

Doubling down on the Growth Commission is a huge mistake


What should we expect from Chancellor Rishi Sunak’s Spending Review today? Not austerity – at least not yet, at least not for most. The hedge fund chancellor was keen to emphasise that point with Andrew Marr on Sunday, that there “will not be austerity” now, but at some point borrowing will “have to be grappled […]

Does Sunak have a plan?


Chancellor Rishi Sunak is hoping its third time lucky with his latest post-furlough scheme plans. First he argued that no replacement for the furlough scheme was needed on 1 November. Then, as pressure grew, at the end of September he proposed a “Job Support Scheme”, which was more like an unemployment creation scheme. Now, the original […]

Third time lucky? Sunak’s latest attempt to replace Furlough


What unites Liam Gallagher, Ian Rankin and Badly Drawn Boy (no, I don’t know who the last one is either)? They all had a go at Chancellor Rishi Sunak yesterday after he appeared to say that some workers in the Arts sector need to re-train and do other jobs. In an interview with ITV, Sunak […]

Give us a gig



Chancellor Rishi Sunak’s speech to the virtual Tory party conference yesterday was interesting because of the framing of his argument around public finances.  “We have a sacred responsibility to future generations to leave the public finances strong, and through careful management of our economy, this Conservative Government will always balance the books,” he said. “If […]

“What is the point in us?”


The title of what Chancellor Rishi Sunak announced yesterday, ‘Job Support Scheme’, flatters to deceive. The key thing to be aware of is that employers are being asked to pay one-third of the topping up of a worker’s wage who has been moved from full-time to part-time hours, which many of them are not going […]

Sunak’s ‘Job Support Scheme’ is a deception