Just some quick notes about what has been happening with the currency and what that directly has to do with us. Let’s simply things down for explanation. Supposing the £1 is trading at $2. It obviously affects when you go on holiday because you want to get as many dollars when you go so you… Continue reading Why the dollar/pound exchange rate matters
I’ve been reflecting a little more on the debate around the Chancellor of the Exchequer’s statement last Friday and what is now becoming referred to as “Trussonomics.” You will remember that my assessment was that it was economically illiterate and politically stupid. Perhaps you thought that harsh. Perhaps not given the even stronger assertions from… Continue reading Further reflections on Trussonomics
I’m increasingly seeing comments along the lines of “We shouldn’t be seeing or y … in this day and age.” Or “It is disgusting that in one of the richest G7 countries that we should be seeing x.” These statements at the moment relate specifically to the pressures that people are starting to face in… Continue reading “In this day and age?”
One of the measures that the Chancellor of the Exchequer announced in his financial statement on Friday was a 1p cut in the basic rate. This was already planned but has been brought forward a year. I want to highlight some of the challenges around decisions concerning taxation when the aim is to help those… Continue reading How helpful will a 1p tax cut be?
Today, the Chancellor of the Exchequer is making a special announcement about his fiscal plans. We are not allowed to call it an emergency budget though. He does so, primarily to give a bit more detail about how the Government are going to help with the energy crisis. This is part two following on from… Continue reading What should the Chancellor do about recession?
Today, the United Kingdom gets a new Prime Minister. However we feel about her personally and the party she represents, our first responsibility as Christians is to pray for her and the government as well as for the leader of the opposition. Liz Truss comes into power with some pressing challenges to respond to. The… Continue reading The Cost of Living Crisis: What does Liz Truss need to do?
Whilst I’ve complained at times that there has been a slowness to talk about the cost-of-living crises, that doesn’t mean that no-one is talking about it. This week, former Prime Minister Gordon Brown weighed in with his take on the crisis and what needs to be done. He spoke with a characteristic sense of urgency… Continue reading Just because someone proposes a solution to the cost of living crisis doesn’t mean we have to jump at it
As I’m writing this article, it’s just been announced that inflation in Britain has hit 9%, the highest it has been in many years. Meanwhile there are dire warnings that inflation could soon be accompanied by recession which will lead to high unemployment and with it house repossessions. Over the past few months, I’ve been… Continue reading The cost of living crisis and the New Testament Church
You may have seen this headline on Wednesday morning. Now, there may be good reasons and bad reasons for introducing new taxes but surely doing so when it officially goes against your political instincts and possibly your economic judgement isn’t good at all. Cards on the table, my personal instincts are towards keeping the tax… Continue reading My Prime Minister went to a party and all I got was this lousy windfall tax
One of the big fears at the moment is that we are about to hit a recession. A recession is a period of time, technically a minimum of two quarters (6 months), when the economy shrinks. A shrinking economy is likely to lead to significant job losses as businesses cut costs to survive. Meanwhile, some… Continue reading Living through economic hard times, a practical suggestion