Emerging Europe Economics Update Russia: low debt levels mask mounting fiscal risks Russia’s public finances are a picture of health compared to those economies in the euro-zone’s periphery. But if oil prices drop further, as we expect, spending may have to be cut in real terms for... 18th May 2010 · 1 min read
UK Economics Update OBR details underline likelihood of tax hikes George Osborne’s presentation today of the new Office for Budget Responsibility as an answer to the previous Government’s habitual over-optimism on the economy and the public finances reinforces our... 17th May 2010 · 1 min read
UK Economics Weekly Sterling caught in the middle Co-ordination between fiscal and monetary policy already appears to have stepped up a gear since the new Government took office, with Bank of England Governor Mervyn King endorsing the Government’s... 17th May 2010 · 1 min read
Asia Economics Weekly New Zealand’s budget to focus on tax reform A hike in the GST, and reforms designed to lift investment, will be the centrepiece of this week’s New Zealand budget. The changes overall are likely to be fiscally neutral in 2010-11 to help protect... 17th May 2010 · 1 min read
UK Economics Update OBR could prompt bigger budget tax hikes The fact that the forthcoming emergency budget will incorporate economic and fiscal forecasts produced by the new Office for Budget Responsibility (OBR) increases the likelihood that it will include... 13th May 2010 · 1 min read
UK Economics Update OBR could prompt bigger budget tax hikes The fact that the forthcoming emergency budget will incorporate economic and fiscal forecasts produced by the new Office for Budget Responsibility (OBR) increases the likelihood that it will include... 13th May 2010 · 1 min read
UK Economics Update Tax bargaining just a sideshow to the great squeeze While the first job for the coalition parties was to iron out the differences in their manifesto pledges, the tax changes announced are just a sideshow to the real action needed to address the fiscal... 12th May 2010 · 1 min read
UK Economics Update Tax bargaining just a sideshow to the great squeeze While the first job for the coalition parties was to iron out the differences in their manifesto pledges, the tax changes announced are just a sideshow to the real action needed to address the fiscal... 12th May 2010 · 1 min read
Europe Economics Update Iberian economies still facing an uphill struggle The bold measures announced by European policymakers at the weekend may have reduced the chance of financial market meltdown. But this does not change our fundamental view that the Iberian Peninsula... 11th May 2010 · 1 min read
Asia Economics Update Australia targets a quick return to surplus Today’s Federal Budget in Australia was a low-key affair even in the context of an imminent general election which will be a close contest. The aim of moving back to a fiscal surplus by 2012-13, some... 11th May 2010 · 1 min read
Emerging Europe Economics Update Turkish fiscal rule offers hope, but onus still on policymakers Today’s announcement of a seemingly well-designed and sensible fiscal rule in Turkey is an encouraging sign that the government is trying to get to grips with the public finances. But while a rules... 11th May 2010 · 1 min read
Europe Economics Update EU package does not address broader economic problems The bolder than anticipated announcement of up to €750bn in loans and guarantees for euro-zone governments together with ECB government bond purchases hopefully reduces the immediate risk of financial... 10th May 2010 · 1 min read
Japan Economics Weekly Unambitious fiscal plan to test markets’ patience The DPJ’s economic and fiscal plan, due to be unveiled next month, is likely to be criticised on at least two counts: that the proposed target for the budget balance would still leave debt at very... 10th May 2010 · 1 min read
UK Economics Update UK election ushers in the Great Squeeze Tomorrow’s general election will mark the beginning of a new and difficult phase for the UK economy. Get ready for the Great Squeeze. 5th May 2010 · 1 min read
Europe Economics Update Greece - crisis averted, for now at least With the joint euro-zone/IMF fiscal lifeline increasingly likely to be in place in a matter of days, the possibility of a near-term Greek funding crisis has been greatly reduced. But with government... 4th May 2010 · 1 min read
Japan Economics Weekly Japan dodges Greek crisis... for now The market reaction to the recent events in Greece shows that Japan is still seen as a safe haven rather than one of the next countries in line for a public finance crisis. This makes sense. In... 3rd May 2010 · 1 min read
