Ann Pettifor

Government Borrowing

How governments finance their spending (and its not from taxation).

Readers of this blog may know that Patrick Allen, founder of the Progressive Economy Forum (PEF) invited me to become a member of its distinguished Council in July this year. Other members include Professors John Weeks, Joseph Stiglitz, Stephany Griffiths-Jones, Robert Skidelsky, Daniela Gabor, Danny Darling, Ha Joon Chang and Doctors Johnna Montgomery, Geoff Tily, …

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A Reckless Economic Experiment

  The following article appeared in the Church Times on 20 September, 2018 “The Government is unprepared for a hard Brexit, says Ann Pettifor. The financial impact could be devastating” The Brexit referendum provided conclusive evidence that economics is inherently political. There was nothing scientific about any of the campaign promises or economic forecasts. Instead, …

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Do Tax Revenues Finance Government Spending?

The Economist had a piece  on Britain’s tax base in its 25th January edition. It begins with a reference to Denis Healey’s speech to the 1973 Labour conference, in which he promised that tax increases  would be met with “howls of anguish” from everyone, not just the rich. As it happens, I have been reviewing the …

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Why Business Could Prosper Under A Corbyn Government

This opinion piece appeared in the Observer on 17th December, 2017.  While the Daily Mail, with Pavlovian regularity, persists in ringing the “Marxist” alarm bell, the Financial Times is a little more measured. “Labour has a fair wind” with business leaders the paper argued recently “with many terrified of a hard Brexit”. At Britain’s biggest …

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Fiscal Charter Hoopla* obscured big concessions to the City

* Hoopla: “speech or writing intended to mislead or to obscure an issue.” October has been an eventful month. In Britain, politics is back in fashion. After years of Blairite vacuity, the media have juicy political red meat to plunge their teeth into.  The new Labour leader’s announcement that he would not press the nuclear …

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Newsnight – economists discuss the ‘graphs of 2011’

This week I appeared on Newsnight with Gillian Tett of the FT and Louise Cooper of BGC Partners. We discussed our graphs of 2011 (see mine below) and wider questions around the global financial crisis this year – and how ecnomists and policy makers need to respond. Watch the show on iPlayer for the next …

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It’s not the public, but the private finance sector, stupid.

The Autumn Statement reveals but one thing: the Chancellor and his advisers are both ill-advised and dangerously ill-prepared for the forthcoming prolonged Depression. (And if you think I exaggerate, let me remind you that 20 years after the Japanese debt bubble burst, Tokyo house prices are still falling, and the stock market is worth 60% less …

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My verdict on Ed Balls’ conference speech – apologies are not enough

Published in the Guardian Cif alongside responses from Jonathon Freedland and Sheila Lawlor: Ed Balls said sorry for Labour’s record on ultra-light-touch financial regulation, and that must be acknowledged. But apologies are just not enough. He and Ed Miliband must stop attacking his electoral base, “hardworking families”, many of whom are trades unionists. As Balls …

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ABC daily report – ‘Let them default’

While I was in Australia I recorded this interview with ABC’s daily show. This went out on 15th September. Watch it above or on ABC’s website here >

Financing the Green Transition – why we can afford it

Last month I gave a ‘Green Talk‘ in Bristol, organised by Climate Works. It was wonderful to be, first of all at such a professionally and well organised event (congrats to Mark Letcher and his team). It was also fantastic to be amongst such an interesting array of speakers including John Gapper ‘the secret gardener’ …

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