Emeritus Prof. Christopher May2d ago

Andy Beckett argues for too long the 'requirement' to appease bond market traders' views about economics in the quest for 'stability' has been the centrepiece of UK Govt. fiscal polices... leading to (continued) austerity & the rise of Right populism appealing to those disadvantaged & impoverished by such economic policies.

As he notes the Green Party of England & Wales is already clearly focussed on how to shift away from this model, but can (will) Labour?

#economics
https://www.theguardian.com/commentisfree/2026/jun/02/uk-right-bond-markets-instability-austerity-populism

Despite what the UK right will tell you, appeasing bond markets has actually led to instability

Austerity has benefitted bond traders but impoverished UK society and led to the rise of populism. Is it right that we carry on adhering to their interests, asks Guardian columnist Andy Beckett

The Guardian
Show threadDonald Roy
@ChrisMayLA6 The #ifs has suggested a 'traffic light' approach instead of hard targets - which have proved destabilising. To which I would add relaunching 'national savings' - after rendering its management 'fit for purpose' and changing the remit of the #debtmanagementoffice so as reduce the churn in #uk government bonds.
Jun 2 at 1:36pmWeb
Show threadEmeritus Prof. Christopher May2d ago

@djr2024

Yes, a more strategic NS&I would be very helpful.