Canada Economics Update Federal Budget 2011 The new Conservative majority government now aims to tackle its updated C$36.2bn deficit essentially over four years, which we think will prove far too optimistic. A global economic slowdown, a drop... 6th June 2011 · 1 min read
Asia Economics Update Pakistan's fiscal target may prove difficult to achieve Pakistan’s federal budget was announced late last week with the aim to narrow the chronic fiscal deficit. The government is rightly looking to broaden the tax base and scale back subsidies, but... 6th June 2011 · 1 min read
Canada Economics Weekly Budget unlikely to differ much from first version If the Bank of Canada was trying to hint in last week's statement that a rate hike might be on the way then that message was largely drowned out by the unrelenting flow of weak economic data coming... 6th June 2011 · 1 min read
Japan Economics Update Doubling of consumption tax still not enough Japan’s DPJ-led administration finally seems ready to bow to the inevitable and double the country’s consumption tax over the next five years. However, this might not be enough to pay for the... 2nd June 2011 · 1 min read
Middle East & North Africa Economics Update What is the economic impact of Egypt's new budget? Egypt’s government budget for the fiscal year 2011/12 (which starts in July) has focused on public sector salaries, as well as food and fuel subsidies, which is predictable given the social unrest and... 2nd June 2011 · 1 min read
UK Economics Update Fringes of UK to be worst affected by fiscal squeeze The relative performance of the regions of the UK over the next few years depends in part on their different exposure to the public sector and the fiscal squeeze. The fringes of the UK – and Northern... 2nd June 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (May) While Spain has made good progress in reducing its central government budget deficit this year, its growing regional deficits are a cause for concern. Meanwhile, the Greek and Irish deficits are still... 1st June 2011 · 1 min read
UK Data Response Public Finances (Apr.) April’s public finance figures have got the new fiscal year off to a bad start. We continue to doubt that the Government will be able to get borrowing down to meet the fiscal projections this year or... 24th May 2011 · 1 min read
US Economics Weekly US spends an unhealthy amount on health care There is little prospect of getting the Federal deficit under control in the long-term unless spending on health care is reined in or, at the very least, not allowed to continue growing at a faster... 23rd May 2011 · 1 min read
China Economics Focus Is China serious about rebalancing? China’s current account surplus will soon rebound unless the government embraces significant policy reform. The Five-Year Plan signals that there is widespread agreement in principle on the need to... 20th May 2011 · 1 min read
Asia Economics Update New Zealand set for a prolonged fiscal tightening Despite 2011 being an election year, New Zealand’s government today announced a budget with few giveaways. The aim to move back into a surplus by 2014-15 will be tough to achieve, especially if... 19th May 2011 · 1 min read
UK Economics Update Bulk of fiscal squeeze yet to come The recent slowdown in the pace of recovery is probably due in part to the fiscal tightening measures that have already been put in place. But with the bulk of the government spending cuts yet to come... 12th May 2011 · 1 min read
Asia Economics Update Australia still targeting a quick return to budget surplus Despite recent natural disasters, Australia’s government stuck to its aim of moving back into a surplus by 2012-13 in today’s federal budget. The goal is likely to be achieved given the prospect of... 10th May 2011 · 1 min read
US Economics Weekly Treasury getting perilously close to debt ceiling In all likelihood, the Federal government will hit its debt ceiling at the start of next week, although the Treasury can use a number of accounting tricks to delay the day of reckoning, perhaps until... 9th May 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Apr.) Official public finances data for 2010 confirmed that while the core economies are making clear progress to rein in their budget deficits, the periphery’s fiscal problems are far from over. 26th April 2011 · 1 min read
UK Data Response Retail Sales & Public finances (Mar.) March’s retail sales figures were slightly more upbeat than the other recent news on consumer spending. The public finance figures were a bit better than expected too. But it is hard to be optimistic... 21st April 2011 · 1 min read
