Trading Truths? The Treasury, Trade and the City by John Redwood

Trading Truths?

The Treasury, Trade and the City

Poor Track Record on Forecasting, mars Treasury and Bank of England Credibility. John Redwood explains where the authorities are getting things wrong.

Publication: Immediate

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As the EU referendum debate focuses on the economy, the spotlight has switched to Her Majesty’s Treasury and its strident backing of ‘Remain’. This intervention, says The Rt Hon John Redwood MP, in Politeia’s new publication for its Referendum Series, explains that not only is the intervention unwise, but it is misleading, particularly on the specifics of trade and the city.

First the foray into forecasting by both Treasury and Bank of England raises questions about their track record in forecasting. In three of the most recent significant developments, both have failed to get things right, explains Mr Redwood:

Forthcoming events and publications

Politeia's Referendum Series: Forthcoming events and publications

Events:

Stable, Secure, Prosperous and Free: What’s Best for Britain and a Global World? 

Thursday 9th of June, 7-8pm, Army and Navy Club, SW1Y 5JN. 

Rt Hon Mark Francois MP, Jacob Rees-Mogg MP, and Rt Hon Dr Liam Fox MP discuss Britain’s policy for defence, trade and its system of government in the context of the EU referendum.

 

The Executive and the Judiciary

Tuesday 5th July, 7 - 8p.m, Army and Navy Club, 36 Pall Mall, SW1Y 5JN

The Rt Hon Sir Alan Moses, The Rt Hon Sir Edward Garnier QC MP,and Martin Howe QC to respond.

New Politeia Publication

Joining the World: Britain Outside the EU
 
Brexit puts in Britain’s grasp a truly global future, says Nigel Lawson in Politeia’s next publication
 
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Publication: Tuesday 3rd May. 
 
Nigel Lawson, Chancellor of the Exchequer from 1983-89 and architect of Britain’s economic rebirth, explains why Brexit would be good for Britain. In Politeia’s Joining the World. Britain outside the EULord Lawson explains that:
 
The EU's object has been political Union from the start. Monetary Union was a means to an end, and a 'reckless gamble'. It cannot work without fiscal and political union. The EU, is NOT Europe ‘with its great history, incomparable culture, and diverse peoples’. Rather the EU has always had political integration as its end. Economic integration was seen as the means to that end, the ‘creation of a federal European super-state, a United States of Europe.’ But, Lawson comments, this objective is ‘profoundly misguided’: the conditions which made the USA a success do not exist in the case of Europe. 
 
It makes no sense, Lord Lawson urges, ‘to be part of a political project whose objective we emphatically do not share’, and he dismisses David Cameron’s opt-out from the political union as ‘completely meaningless’.
 
‘Most of the world is not in the EU and ... most of these countries are doing better economically than most of the European Union’. The alternative to membership of the EU is simple, he says: it is ‘not being in the European Union’.
 

Politeia's Latest Publication

Banking on Recovery

Towards an accountable, stable financial sector

By Lord McFall, Dr Syed Kamall, Dr Gerard Lyons, Professors Richard Roberts, Forrest Capie, Geoffrey Wood, Kent Matthews, David B. Smith, Melanie Powell, Dr Eugene Michaels and  Dr Sheila Lawlor.

Image result for banking on recovery icon  

Press Release

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Read Stephen Hammond MP's response to the publication.

Publication: Thursday 21st of April 2016

The financial crisis of 2007/8 and its causes still loom large in the debate about Britain’s economy and its recovery. While politicians and economists agree on some of the main contributing factors and the broad principles needed to guide future policy, there is less certainty about next steps. How should the law be shaped? Are the UK government and its European counterparts on the right tracks?

In this volume, some of Britain’s leading UK economists and politicians in the field, reassess the crisis, the regulatory response and the wider implications. They contrast the turbulence of recent decades with the stability of the preceding century; they discuss the different factors leading to the crisis, including some hitherto largely ignored; and they show where the official response has been and continues to be flawed, badly timed and damaging.

Labour’s Policy Won’t Wash – Anti-Zionism is an open door to Anti-Semitism

Labour’s Policy Won’t Wash –
Anti-Zionism is an open door to Anti-Semitism
 
Last week the Labour Party descended even deeper into chaos. First, it suspended the MP, Naz Shah. She had commented on social media that the population of Israel should be transported to America. Then one of Labour’s most influential elder statesmen, Ken Livingstone, a member of its ruling NEC, came to her defence, with the bizarre claim that Hitler had been a Zionist. Here John Marenbonexplains why the anti-zionism endemic in the Labour party is objectionable: but for too many of its members, proscribing it would be a step too far. 
 
Professor Marenbon writes ...
Labour responded to the furore last week about anti-semitism in its ranks, by announcing that anti-semitism is racism and not to be tolerated. But hostility to Israel can be permitted, or even adopted as party policy, it suggests, in view of Israel’s treatment of Palestinians.
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