{"id":19554,"date":"2013-03-11T17:36:33","date_gmt":"2013-03-11T17:36:33","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19554"},"modified":"2013-03-11T17:37:12","modified_gmt":"2013-03-11T17:37:12","slug":"does-liam-fox-have-any-economic-sense-at-all-its-illiterate-to-increase-savings-now","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/11\/does-liam-fox-have-any-economic-sense-at-all-its-illiterate-to-increase-savings-now\/","title":{"rendered":"Does Liam Fox have any economic sense at all? It&#8217;s illiterate to increase savings now"},"content":{"rendered":"<p>This <a href=\"http:\/\/www.bbc.co.uk\/news\/uk-politics-21737992\" target=\"_blank\">is bizarre<\/a>:<\/p>\n<blockquote>\n<p id=\"story_continues_1\">Former cabinet minister Liam Fox has urged the government to freeze public spending for five years and use the savings to cut taxes and the deficit.<\/p>\n<p>Stamp duty and taxes on bank account interest could be reduced to help create a \"savings investment culture\", the ex-defence secretary said.<\/p><\/blockquote>\n<p>Why's it bizarre? Precisely because we have far too many savings in the UK right now. This data looks reliable (<a href=\"http:\/\/www.economicshelp.org\/blog\/848\/economics\/savings-ratio-uk\/\" target=\"_blank\">from here<\/a>):<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2013\/03\/Screen-shot-2013-03-11-at-17.32.44.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-19555\" alt=\"Screen shot 2013-03-11 at 17.32.44\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2013\/03\/Screen-shot-2013-03-11-at-17.32.44.png\" width=\"555\" height=\"910\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2013\/03\/Screen-shot-2013-03-11-at-17.32.44.png 555w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2013\/03\/Screen-shot-2013-03-11-at-17.32.44-137x225.png 137w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2013\/03\/Screen-shot-2013-03-11-at-17.32.44-80x132.png 80w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/a><\/p>\n<p>One of the biggest reasons we're in recession is people are not spending enough because they are saving much more since the recession began.<\/p>\n<p>And Liam Fox wants us to save more. And slash\u00a0government\u00a0spending at the same time, which would provide a double assault on GDP and guarantee the onset of a depression and massive unemployment.<\/p>\n<p>Do these right wingers\u00a0have\u00a0any economic sense at all?<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is bizarre: Former cabinet minister Liam Fox has urged the government to freeze public spending for five years and use the savings to cut<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/03\/11\/does-liam-fox-have-any-economic-sense-at-all-its-illiterate-to-increase-savings-now\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-19554","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19554"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19554\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}