Latest Bank of England News

  • Just like in 1945, inequality, a craven, irresponsible elite and hope for a …
    Just like in 1945, inequality, a craven, irresponsible elite and hope for a … Tue, May 5, 2015

    This thundering statement is an excerpt from the Labour Party manifesto of 1945. It is seven years since bankers, unleashed from the bounds of social responsibility by a market fundamentalist revolution that was launched by Margaret Thatcher and Ronald Reagan decades earlier, triggered a global economic meltdown that most of us are still suffering from. Just like in 1945, when public debt stood at 215% of the national income and vastly eclipsed the 90% rate of today, the nation is being urged to “live within its means” by the allies of a craven and irresponsible elite, who do not rely on the schools, hospitals and other public services we do and are determined to hoard wealth and power at whatever the cost and maintain a system that disproportionably benefits them. More »

  • We’re one step closer to the end of homophobia in football
    We’re one step closer to the end of homophobia in football Wed, Jan 8, 2014

    There's only so long English football can withstand the changes which have taken place in this country. The announcement from former Aston Villa player Thomas Hitzlsperger that he is gay brings forward the day when the dam breaks and the … Continue reading → More »

  • Everything you need to know about the Scottish independence white paper in five …
    Everything you need to know about the Scottish independence white paper in five … Tue, Nov 26, 2013

    What is it? It's Alex Salmond's big document outlining his plans for an independent Scotland. Why's everyone making such a big deal out of it? Well there is the small matter of how the economy, defence and politics of Scotland … Continue reading → More »

  • Ukip are much easier to defeat than the Tories imagine
    Ukip are much easier to defeat than the Tories imagine Mon, Apr 29, 2013

    By Des Brown Will Ukip capture Conservative council seats during the May 2nd elections? There are reasons to be doubtful. Despite the press frenzy around the party, their performance has not always lived up to expectations. At the moment, it … Continue reading → More »

  • Brace yourself, Your Majesty Mon, Dec 17, 2012

    Brace yourself, Your Majesty. The Cabinet meeting you're attending will be nothing but political theatre. For six decades, the Queen has met up with her prime minister to talk over affairs of state. From Winston Churchill to David Cameron, Elizabeth … Continue reading → More »

  • Why GDP good news means precisely nothing Thu, Oct 25, 2012

    The double-dip recession is officially over - but don't be fooled. Britain's economic misery is far from over. We've been here before. Three years ago, in the autumn of 2009, figures confirmed that Britain's GDP had crawled back into positive … Continue reading → More »

  • The end of Occupy? We’re only getting started Sun, Oct 21, 2012

    By David Dewhurst Last Saturday, in a co-ordinated demonstration around the world, 'Occupiers' demonstrated in hundreds of cities, banging pots and marching in protest about the international economic disorder - especially debt and the need to forgive it. There was … Continue reading → More »

  • Balls has some good ideas – but do his figures work? Mon, Oct 1, 2012

    Ed Balls pre-briefed so much of his conference speech there was little of it left to report. However, one major policy announcement stood out. It is not the kind of thing which wins over wavering voters, but it is a … Continue reading → More »

  • We’re suffering from scandal fatigue Sun, Jul 8, 2012

    By Dr Matthew Ashton Both the Conservatives and Labour struggled in their response to the banking scandal this week. The Conservatives because they're now forced to do something about it, and are the natural supporters of the finance industry, and … Continue reading → More »

  • Diamond resignation: The aftershocks Tue, Jul 3, 2012

    Who wins when Diamond falls? David Cameron and George Osborne The chancellor is trying to remain undamaged by the growing Libor scandal, but he has several significant weaknesses to overcome. Firstly, he regularly called for less regulation of the financial … Continue reading → More »

  • PMQs: Another Miliband own goal Wed, Nov 23, 2011

    One-nil to the Cameron: that's how the late Labour MP Alan Keen, who died last week and was the subject of numerous tributes during this week's session, might have put the result of this week's prime minister's questions. The former … Continue reading → More »

  • Economic misery and the 2015 election Wed, Nov 16, 2011

    If May 2010's hung parliament negotiations were taking place in November 2011, would Nick Clegg's party think again about entering into a coalition? The Liberal Democrats and Conservatives were able to agree on a bold strategy of deficit reduction during … Continue reading → More »

  • Here’s a bright idea: Let’s set up a QE lottery Thu, Oct 27, 2011

    By Richard Heller Quantitative easing is all well and good, but why doesn't the government give the money straight to the British people and start a QE lottery? As the Doors once remarked in another context, strange days have found … Continue reading → More »

  • Are the banks crying wolf over reform? Mon, Sep 12, 2011

    In the days preceding the publication of Sir John Vickers' report into banking reform, the sector unleashed its PR operation. Banks would move overseas, they argued. They would be unable to lend to consumers. Many of the apocalyptic suggestions were … Continue reading → More »

  • The obsolete route to riches Fri, May 6, 2011

    Osama bin Laden's $1million compound is probably worth more like $250,000 according to property dealer Muhammad Anwar, an expert on the local market who commented from his Abbottabad office. "This is not a posh area. We call it a middling … Continue reading → More »

  • How the clunking are fallen Tue, Nov 2, 2010

    Gordon Brown looked as jittery as ever before he resumed his parliamentary career last night. The agonies of power haven't yet fully worn off.By Alex StevensonThe former prime minister had chosen to make his debut speech as a backbencher in as low-key a s Continue reading → More »

  • We’re not all in this together Thu, Oct 7, 2010

    It's amazing that a politician as talented as Cameron can so misjudge a major speech. It's because he's picked the wrong victims.By Ian DuntFor some reason, conference speeches are the one bit of political theatre David Cameron just can't sort out. ... Continue reading → More »

  • Interview: Ed Balls Mon, Sep 20, 2010

    Ed Balls talks to about life with Gordon Brown, not being a bully and why the coalition will survive.By Alex StevensonThe past always comes back to haunt you, and no-one knows that better than Ed Balls. His close association with Gordon Bro Continue reading → More »

  • Coalition’s first 100 days: The economy Mon, Aug 16, 2010

    All this week examines the state of the coalition as it marks its first 100 days, beginning with the biggest headache of all: the economy.By Alex StevensonThe Conservatives had pledged to hold an emergency Budget within 50 days; it came wit Continue reading → More »

  • Analysis: A guide to ministerial wriggling Thu, Aug 12, 2010

    David Cameron's partial U-turn on alcohol minimum pricing is an early retreat to mid-term governmental wriggling tactics. Is nothing in the coalition agreement wholly safe?By Alex StevensonFifteen months have passed since the then leader of the opposition Continue reading → More »

  • The OBR mask is crumbling Fri, Jul 9, 2010

    Sir Alan Budd's departure sheds light on the fake independence of the Office of Budget Responsibility (OBR).By Craig BerryIt emerged this week the OBR head has left after only three months in his post. The government claims Budd was only ever a short-term Continue reading → More »

  • You can’t depoliticise people Mon, Jun 14, 2010

    George Osborne's decision to take the politics out of economic forecasts is inspiring. But why stop there?By Alex Stevenson As part of the 'new politics' perhaps the coalition should consider a wave of depoliticisation affecting all branches of government Continue reading → More »

  • Comment: Climate Camp Fri, Aug 28, 2009

    Contrary to popular belief, Climate Camp is not about fighting the police - it's about fighting climate change.By Liz StephensYou've never seen so many disappointed people on Wednesday when Climate Camp 'swooped' on London. I'm talking Continue reading → More »

  • Could we ever learn to love Brown? Fri, Jun 12, 2009

    You may laugh now, but once he's gone we may start talking about Gordon Brown in Churchillian tones. By Ian DuntYou're always more popular once you're out of power. It's a truism, but it's also true. Think of John Major, who somehow adapted from a dull, i Continue reading → More »

  • Digesting the Budget Fri, Apr 24, 2009

    There's something a bit predictable about frontbench politics. That's why, on one of the most significant Budget days in recent times, went a-hunting among backbenchers with constituencies around the country for a better sense of reaction t Continue reading → More »

  • G20 death is a sign of systemic problems in the police Wed, Apr 8, 2009

    We still don't know what happened to Ian Tomlinson and we need to be careful not to jump to conclusions. Last Wednesday, he died of a heart attack, and video released today shows he was struck by police minutes before that happened. Everyone has presumed Continue reading → More »

  • The police have new tactics and they’re not afraid to use them Tue, Apr 7, 2009

    Those attending the G20 protests this weekend have come back with complaints about the tactical manoeuvre employed by the police, known as 'kettling'. The protestors had not been around the Bank of England very long - perhaps just an hour - before police Continue reading → More »

  • G20 protests: The view from the street Thu, Apr 2, 2009

    It's a strange thing to be told by police that you can't leave an area.'But I need the loo', you think. 'And something to eat.' And you do feel, rather vaguely, that your human rights are being mildly violated.There's been much talk in the media about how Continue reading → More »

  • Will the police be responsible for G20 violence? Tue, Mar 31, 2009

    You get the kind of protest you deserve, and this week's demonstrations around the G20 are a case in point.Police have launched one of the biggest public order operations in British history. And you can see why. With one demo outside the American embassy, Continue reading → More »

  • The blame game Thu, Feb 26, 2009

    Who is to blame for the banking crisis? According to all those who have been in front of the Treasury committee so far, everyone but them.Bank of England governor Mervyn King is the latest to receive a grilling from John McFall and co this morning. He wil Continue reading → More »

  • An age of insecurity Mon, Feb 16, 2009

    Strikes over Italian workers at the Total Lindsey oil refinery were rooted in a toxic mix of job insecurity and the unfairness of the credit crunch, not racism. Blue collar workers are facing blow after sharp blow as construction and manufacturing contrac Continue reading → More »

  • Is it 2009 or 1995? Thu, Jan 29, 2009

    Just over a decade ago, the cash for questions scandal helped bring the Major government to its knees. It had been buffeted by controversy throughout its period in government, mostly due to sex scandals, but the cash for questions issue was more serious t Continue reading → More »

  • The real life Robin Hood was a banker? Wed, Sep 17, 2008

    I'm prepared to believe a lot of strange things. Dolphins sleep with one eye open? Okay, I can buy into that. Slugs have 4 noses? No problem. But the real life Robin Hood was a banker? No chance. Apparently it's … Continue reading → More »

  • Give MPs a 10% pay rise... and give Britain one too
    Give MPs a 10% pay rise... and give Britain one too Thu, Jun 4, 2015

    David Cameron is reportedly determined to stop MPs from getting a 10% pay rise. More »

  • Is this the most inane law of all time? Cameron promises to make illegal immigration …
    Is this the most inane law of all time? Cameron promises to make illegal immigration … Thu, May 21, 2015

    Asked how this made any sense on the Today programme this morning, home secretary Theresa May admitted it was predominantly to discourage undocumented immigrants trying to find work – implying it will rarely be actually used. The discouragement - or the realisation that “illegal working doesn’t pay” - would only be pertinent when you were caught by police. There certainly won’t be much financial discouragement. More »