In Q3 2014, GFCF is estimated by ONS to have increased by £0.7 billion (1.0%) since the previous quarter, to £73.2 billion. It is up 7.1% compared with Q3 2013. Most of the increase came from increased investment in other buildings and structures.
Also from ONS, in Q3 2014, business investment decreased by some £0.3 billion from Q2, but it is up 6.3% compared to Q3 2013. The total of business investment was £44.6 billion – this is £2.6 billion higher than its pre-downturn peak in Q2 2008.
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
In Just Money Ann Pettifor, the economist and critic of modern finance, explains clearly what money is, where it comes from, and how it is currently controlled.
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.
Chick and Pettifor examine a century’s worth of macroeconomic evidence to argue that contrary to conventional wisdom we need to ‘spend away the debt’.