Every week, new banking scandals and stories of corporate tax dodging are in the news. The existing system makes the banking sector’s life too easy - allowing them to cosy up to regulators, find loopholes, and create money whenever they please!
It is time for the European Central Bank and eurozone central banks to bypass the financial system and work with governments to inject newly created money directly into the real economy, reads the letter in Financial Times, 26th March 2015, signed by 19 prominent economists:
A hustings is a public meeting that brings electoral candidates and voters together in the run up to an election. It provides an opportunity to hear from politicians on a range of issues, and ask a question about something you care about.
In his annual budget speech yesterday, Chancellor George Osborne (the UK’s finance minister) declared that UK economy looks like to be in great shape, and that Britain is “walking tall again”. Jobs are being created, growth is on the up, living standards are improving, the national deficit (as a share of national income) has been halved, and ‘economic security’ is being prioritised.