UK economy £100bn smaller because of austerity – thinktank

Cumulative effect since 2010 has left each person £1,495 a year worse off, analysis shows

Austerity policies from the Treasury have resulted in slower growth in every year since 2010 and left each household £300 a month worse off as a result, a thinktank has said.

The New Economics Foundation said its analysis of the impact of tax and spending changes since the Conservatives came to power, first as part of a coalition with the Liberal Democrats, had left the economy £100bn smaller than it would otherwise have been.

Continue reading…

Ministers urged to provide rescue package for ailing high streets

MPs committee report suggests online sales tax and more help for local authorities

The government should consider taxing online sales, deliveries or packaging and cutting property taxes for retailers as part of a package to help revive the UK’s ailing high streets, according to an influential group of MPs.

In a report published on Thursday, the housing communities and local government committee says local authorities need more help, including extra cash, to redevelop town centres. It also suggests an overhaul of planning regulations, including scrapping rules that allow developers to turn offices into flats without special permission.

Continue reading…