Chancellors rarely get an opportunity to set their own agendas. Invariably their tenure is shaped by events. Norman Lamont had Black Wednesday in 1992. Alistair Darling had the Global Financial Crisis of 2008. Both saw their time at the helm of the Treasury end within three years. Earlier this…
Read more
One of the biggest and most important trends in global financial markets is under strain. Interest rates on government, household and company debt – that have steadily declined for more than three decades – are moving higher. Whilst this reversal has happened many times before, including in 1999 and…
Read more
Simon French, Chief EconomistPublished: The Times 29/12/2021 Economic crises have a nasty habit of upending UK governments. The Winter of Discontent in 1978/79, the Exchange Rate Mechanism (ERM) Crisis in 1992 and the Global Financial Crisis in 2008 were all followed by General Elections where the…
Read more