The most recent UK production statistics were published today by ONS. They show that production as a whole (which includes manufacturing, mining and quarrying – mainly North Sea oil and gas – and the gas, electricity, water, waste etc. production utilities) increased by just 0.1% between Q4 of 2014 and Q1 of 2015.
Ann Pettifor (Commonwealth, 2014)
Modern Finance is generally incomprehensible to ordinary men and women....The level of comprehension of many bankers and regulators is not significantly higher. It was probably designed that way. Like the wolf in the fairy tale, 'all the better to fleece you with'
- Satyajit Das
Victoria Chick & Ann Pettifor, with G Tily
July 2010, updated January 2011
Fiscal consolidation does not ‘slash’ the debt, but contributes to it. As the extent of economic recovery becomes increasingly uncertain Prof.