About Bob

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So far Bob has created 270 blog entries.

What a surprise: the UK’s self-employed and microenterprises are in the mire – but don’t blame Labour (yet)

24th February 2025

Introduction

The Office for Budget Responsibility’s ‘Commentary on the Public Sector Finances: January 2025’, issued on 21st February 2025, contained a statistic that has horrified the august bodies that oversee the nation’s finances, although the statistic oracle itself – the Office for National Statistics, issuer of ‘Public Sector Finances, UK: January 2025’ – maintains […]

What is EU GDP actually?

18th February 2025

Eurostat estimates for Q3 2024 of Eurozone and EU General government gross debt

My recent research on the shadow liabilities of the EU member states threw up an extraordinary question: what is EU GDP actually?

You can download the full research here.

For my 2021 book on th subject of the shadow liabilities I backed EU […]

EU shadow borrowing increases

My 2023 book

13th February 2025

The EU’s shadow borrowing has continued to increase, as is shown by a high-level update on the 2021 figures which were the basis of my book ‘The shadow liabilities of EU Member States, and the threat they pose to global financial stability’, which was published by The Bruges Group in 2023.

You […]

Open Banking – a classic example of a ‘state-directed’ activity which is not an ‘industry’

Open Banking’s activity statement

3rd February 2025

Introduction

Vyne has folded its tents in the UK, or rather it has closed its Open Banking portal, apparently one offering a top customer experience and with traction into a large customer base:

https://www.linkedin.com/pulse/vynes-withdrawal-uk-open-banking-supplier-proves-dead-bob-lyddon-6xk3e

This does not augur well for this activity area: a top player cannot make Open Banking work financially. That […]

We need a proper Brexit In/Out referendum

The Brexit Papers

Publication date – 3rd February 2025

The UK now needs another Brexit referendum, otherwise we are going to go around this thing for 50 years and tear ourselves apart.

In the years since the 2106 referendum it has been left to politicians to determine what Brexit is, notably Prime Ministers who have gotten themselves installed for multi-year […]

No need for a Brexit re-set: Reeves plans to drown us in debt just like the EU

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 […]

The Office for National Statistics should add ‘Bank of England’ on to the national debt, not deduct it

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 […]

The Bank of England’s new bailout facility is a testament to their epic bungling since the Global Financial Crisis

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 […]

Seven Freebies from the Bank of England to their new best buddies – Labour – and one frustration

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 […]

Rt Hon Rachel Reeves’ CV may have been correct after all, or at least some of it

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 […]