Category Archives: Blog

How do you turn 13 bn Euros into a trillion?

  Amidst all the talk of a Euro 1 trillion fund to bail out ailing Euro countries, it might help to look at what they done so far. They set up the European Financial Stabilisation Fund as a Luxembourg regulated Special Purpose Vehicle or company on 9 May 2010. It is  owned by the Euro […]

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Soundbites to sum up a week – and a gripping democratic argument

1. The single currency The Euro is the Exchange Rate Mechnism you cannot get out of. A single currency needs a single country to love it and pay for it. Joining a single currency is like taking out a bank account with the neighbours. You inevitably fall out over the overdraft. A single currency starts as […]

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"We have a deal" versus "There is no money left" – the future of the Euro

                Some today will heave a sigh of relief . They will say that Greece is saved. Now she has agreement to write off one quarter of her debt she can go off and borrow some more from the IMF and EU. Her debt burden is temporarily cut.              They will say the EU banks […]

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Can you spare 2 trillion Euros to save an unloved currency?

  In July we were told 440 billion Euros would fix it. More recently we were told 3 trillion would do the job and would be available last Sunday. Then we were told  2 trillion was enough, to be confirmed today. Now we are told there might be just 1 trillion along sometime soon. The […]

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The curious case of the vanishing revenue

                     This September Income Tax receipts were £9.5 billion.  In September 2010, a year ago, Income receipts were £10.3 billion.                   An 8% fall in Income Tax revenue is unusual. The government hopes there are special factors. Perhaps you should not read too much into one month’s figures.                    The problem is, there is […]

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More voices than votes

                  Yesterday Parliament staged a good debate. Voice after voice was raised to condemn the lack of democracy in EU government. MP after MP warned their leaderships that too much power has passed to Brussels without gaining the consent of the British people.  MPs asked their leaders what part of the 80% public opposition […]

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Mr Hague denies a referendum and supports our membership of the EU on current terms

  We are told that the government has brought the debate on the EU referendum forward to today so the Foreign Secretary can join  the debate. The debate will be led by Mr David Nuttall, the mover of the motion.             Some have suggested the government switched the date because they want to stop the lobby […]

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Deficit reduction on track?

             There was some good news in the September figures for public spending and borrowing. So far this financial year spending is only up 3%, a bit below the forecast. Meanwhile tax revenues are up 5%, usefully ahead of costs, even though they are down on forecast.  Between April and September this year the […]

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The government at this summit needs to grasp how big the EU ambition is

             Mr Barroso made clear in his recent speech in Brussels to the European Parliament that the EU needs more integration. To him  the answer to every tension and problem is more EU central power.             The Commission plans a “single coherent framework for the better economic governance based on the community method. …The proposal […]

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Popular and unpopular greenery

               I am all in favour of saving energy, of promoting fuel efficiency, saving the greenfields and the  best heritage of England. Much of the green agenda is popular. Many are happy to recyle, to insulate, to buy more fuel efficient vehicles when money permits. No-one wants to see the Green Belt concreted over or […]

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  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, He graduated from Magdalen College Oxford, has a DPhil and is a fellow of All Souls College. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.

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