Macroeconomics: UK economy, IB Economics

After the IMF yesterday warned the government of a £30bn fiscal hole emerging, the government response is predictable: cutting taxes, specifically National Insurance. 

It looks like a desperate act by a desperate government, another bit of economic vandalism - Brexit, anyone? - for which they will not be held to account and is self-evidently politically, rather than economically motivated.

Ha ha! I've previously commented on the Progressive Economy Forum, and asked whether you'd worked out it's political leanings. Read this article to remove all reasonable doubt. That said, I agree with the notion that the fiscal black hole is entirely about creating a narrative and not about economic reality. It's worth a read - you'll agree with some of it, disagree with some of it - probably more of it - but it does make some interesting points, not least in relation to the breaking of fiscal rules.