Death Star Economics



It’s budget day!

The Daily News Brief is going on a short spring holiday and will be back at the end of next week!

So it’s budget day in sunny Britain. The day George Osborne takes his little red lunch box to work and talks business. The plan is, unsurprisingly, to stimulate growth, get rid of that deficit and make everybody better off. Unfortunately, it’s not the thought that counts. An increase in real estate tax (stamp duty) is expected, as well as adecrease of corporate tax to 24% and the cut of top tax rate from 50% to 45%. So far, the UK public borrowing decreased by around £9bn from 2010/2011; however, public debt in February was up by around £6bn from last year. Hmm. read article

Update: The most important thing has already been said:

It’s the determined policy of this government that we keep Wallace and Gromit exactly where they are.”

(regarding film tax credit)

Occupy London is still around, even after the protesters have been evicted from their holy camping grounds around St Paul’s. Here’s their statement (from the FT’s budget live blog):

In the shadow of Canary Wharf, set along the path of workers from the local financial services industry, Occupy Limehouse (corner of Branch Road and Horseferry Road, E14) has been chosen as an ideal location from which to carry on the Occupy movement’s critique of global capital. It is the first of a number of new autonomous tented sites expected to pop up around the capital in the coming months.

always thought Limehouse needed to be gentrified

How do we feel about journalists being paid for giving speeches at events of banks and all other financial institutions of the rainbow? read article

And finally, the case for philosophy in finance and why the UN should be more like a trading floor.

So long.

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