{"id":38786,"date":"2017-09-27T08:26:26","date_gmt":"2017-09-27T07:26:26","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=38786"},"modified":"2017-09-27T10:04:41","modified_gmt":"2017-09-27T09:04:41","slug":"who-delivered-a-run-on-the-pound","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/27\/who-delivered-a-run-on-the-pound\/","title":{"rendered":"Who delivered a run on the pound?"},"content":{"rendered":"<p>As the <a href=\"https:\/\/www.ft.com\/content\/932146dc-9f8b-11e7-8cd4-932067fbf946?segmentId=080b04f5-af92-ae6f-0513-095d44fb3577\" target=\"_blank\" rel=\"noopener\">FT has reported<\/a> the Office for National Statistics is revising a number of features of UK national income reporting from this month. One thing that will change as a result is the way that the UK current account deficit with the rest of the world is recorded (it's always been a deficit in the chart that follows, so I only give it one sign in my description). This is what it will look like before and after revision:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/27\/who-delivered-a-run-on-the-pound\/screen-shot-2017-09-27-at-08-21-11\/\" rel=\"attachment wp-att-38787\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-38787\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11-550x388.png\" alt=\"\" width=\"550\" height=\"388\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11-550x388.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11-425x300.png 425w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11-768x542.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11-566x400.png 566w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-27-at-08.21.11.png 1756w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>Now, let's ask a simple question? Who has delivered the biggest run on the pound? I think the answer is obvious.<\/p>\n<p>And who is the only party likely to form a government planning to deal with it? That would seem to be Labour.<\/p>\n<p>Some of those suffering from hysteria this morning at John McDonnell's comments should take note of a few facts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the FT has reported the Office for National Statistics is revising a number of features of UK national income reporting from this month. One<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/09\/27\/who-delivered-a-run-on-the-pound\/\"><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-38786","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/38786","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=38786"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/38786\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=38786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=38786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=38786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}