Category Archives: Uncategorized

Budget 2017 – Not much changes

Lots of money moved around in the Budget arithmetic. Practically all of the changes resulted from new forecasts. At last the Treasury and OBR have thrown off the inaccurate gloom they were enveloped in from the time of Brexit vote, and have brought their figures more into line with reality. As a result revenues leapt […]

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Budget Spring 2017

In the March 2016 budget the government decided to increase total public spending from £681 bn last year, to £694bn this year and to £706 bn next year.  For 2017-18 we are going to need a higher total, given the pressures on social care, the NHS and schools budgets. The argument over the budget is […]

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Retail sales keep on growing

Today we will hear how non food sales in February fell.  This is to take the British retail Consortium figures of sales for non foods on a like for like basis, adjusting for expansions in shop space. The overall true figure is total sales of all items grew by 0.4% on the month, with food […]

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How could the Chancellor help raise productivity?

The budget is billed as helping drive productivity higher. That would be a good idea. If we work smarter as a country then each person can earn more. The government seems to have in mind labour productivity in its plans, though making productive use of capital, energy and other inputs also matters and can help […]

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“A £60 billion Brexit fund”?

I awoke to an odd headline yesterday in the Sunday Times. The Chancellor we were told is going to set up a £60bn Brexit fighting fund. Fortunately the Chancellor’s own words in  the same newspaper said no such thing. It was a silly headline. The government is scheduled to continue borrowing a bit more each […]

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Let’s have a budget for prosperity

We need to move on from  austerity.  The Treasury needs to write back some of the tax revenue it will collect over the next couple of years, that it took out of the forecasts in the Autumn Statement. It was too gloomy then. It needs to spend enough on social care, schools and the NHS to […]

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The UK does not have to pay a single Euro to exit the EU – and is making a very generous and friendly Brexit offer to the EU

I am glad the Lords have confirmed what I have long argued that the UK has no legal obligations under the EU Treaties to pay any one off exit payment or any continuing contributions after departure. They missed out the even more important point  – UK Ministers have no legal power to make any one […]

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Some smart phones are neither smart nor good phones

I have usually been an early and enthusiastic adopter of new technology. I liked the arrival of the mobile phone, thought the internet amazing and welcomed the sat nav. I automated business processes where this could take drudge work out and improve the quality of the product and the quality of work people were asked […]

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White Paper on the future of Europe (sic- they mean EU)

The EU this week issued a White Paper on its future. As many of us argued before the referendum, and as the EU’s 5 Presidents Report argued, the Commission sees the future of the EU as one of far more integration. This new White Paper complements the 5 Presidents Report which I explained at the […]

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Shop prices down again, disposable income up

Yesterday the BRC published its latest shop prices index. Over the last year prices are down by 1%. This is a smaller fall than recent figures, but shows there is still fierce competition on the High Street and on the internet, with the overall balance of prices under good control. Asda also published its latest […]

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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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