2nd February 2025
Introduction
Rachel Reeves is planning to ‘boost growth’ through mechanisms that owe their genesis to Private Finance Initiative and the EU approach, known as InvestEU. These are high-cost schemes funded with expensive debt, and which result in high costs for the general public. The high costs come through as either higher taxes, or high […]
ONS headline page for October 2024 analysis of the UK’s public finances
28th January 2025
Lyddon Consulting has just issued a paper about the £200 billion deduction that the Office for National Statistics (ONS) makes to the national debt on account of ‘Bank of England’.
You can download the full paper here.
The ONS deduction reduces its initial measure […]
Deputy Governor’s speech positioning the new bailout facility
15th December 2024
The Bank of England (the Bank) has designed a so-called ‘Contingent Non-Bank Financial Institution Repurchase Agreement Facility’ (CNRF).
It is a bailout facility for Non-Bank Financial Institutions, and two types are specifically named: pension funds and ‘LDI funds’.
The CNRF is an admission of failure, indeed an admission […]
27th November 2024
Introduction
The Bank of England (‘the Bank’) has given Labour seven free gifts during its first five months in office.
This is not surprising as the Bank pursued Labour monetary policies throughout the Conservatives’ fourteen years of nominal rule.
But the eighth proposed freebie has blown up in their face – thanks to Labour’s mismanagement of […]
Header of Rachel Reeves’ CV on LinkedIn
20th November 2024
Introduction
Rachel Reeves’ CV on LinkedIn may have been correct after all in claiming that she was an economist at Bank of Scotland and not head of paperclips at the Halifax. Who would not want to hush up being a senior figure at HBOS during the time it […]
12th November 2024
At the bottom of this post you will find click-throughs to the key documents on the financial catastrophe visited upon the UK – and continuing to be visited upon the UK every day – by New Labour.
Private Finance Initiative – PFI – was a ‘structured finance’ scheme to raise new money via borrowings […]
This article as published by the Daily Express
2nd November 2024
Labour’s first Budget will be a catastrophe for employed jobs, especially for Minimum Wage jobs. Rachel Reeves has greatly increased the cost to businesses of having employees. Angela Rayner’s upcoming measures to improve employee rights will also impose cost. If all of these added costs are […]
You were warned…but Labour is nothing is except the Sunak/Hunt combination on steroids
27th October 2024
I have drafted a paper about the Conservatives’ years in power, during which the Bank of England exploited its independence and widened the scope of its control over the economy.
You can download the full paper here.
The Bank displaced the elected government […]
30th September 2024
More money is needed and pensioners – or old codgers as a senior HM Treasury adviser calls them – cost too much and are in the way.
Solution? Accelerate pensioner deaths through a scheme of public policy measures – which have already made the news thanks to their being discussed at the highest levels […]
Report on Labour Plans May 2024
26th September 2024
Rachel Reeves wants to take Great British Energy and the NationalWealthFund ‘off-balance sheet’ to massage the UK’s national debt figures.
What this means was written up on pp. 10-13 of this report in May downloadable here: it is the aping of the European Fund for Strategic Investments or InvestEU, […]