{"id":9990,"date":"2011-05-12T12:27:59","date_gmt":"2011-05-12T11:27:59","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=9990"},"modified":"2011-05-12T12:27:59","modified_gmt":"2011-05-12T11:27:59","slug":"expansionary-fiscal-contraction-proves-to-be-contraction","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/05\/12\/expansionary-fiscal-contraction-proves-to-be-contraction\/","title":{"rendered":"&#8216;Expansionary fiscal contraction&#8217; proves to be &#8216;contraction&#8217;"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.guardian.co.uk\/business\/2011\/may\/12\/manufacturing-data-disappoints?CMP=twt_fd\" target=\"_blank\">April manufacturing figures<\/a> are bad:<\/p>\n<blockquote><p>A raft of disappointing manufacturing figures from the UK and the eurozone on Thursday triggered fresh fears that\u00a0<a title=\"the economic recovery is losing momentum\" href=\"http:\/\/www.guardian.co.uk\/business\/2011\/may\/03\/british-manufacturing-falters\">the economic recovery is losing momentum<\/a>.<\/p>\n<p>British industry disappointed last month when output rose less than expected, suggesting the sector is running out of steam and adding to the sluggishness of the economy. In the eurozone, the figures were even worse, with industrial production falling by 0.2% last month following a 0.6% rise in February.<\/p><\/blockquote>\n<p>So we're not growing \u00a0for all practical purposes.<\/p>\n<p>And Europe isn't growing \u00a0either.<\/p>\n<p>But we're told we all have to pin our hopes on\u00a0export\u00a0growth from\u00a0manufacturing.<\/p>\n<p>And there's not a hope it's going to happen.<\/p>\n<p>When are we going to change the tune and realise what most of us really need is not a lot more stuff but one heck of a lot more services - and services at that which only the state can really supply.<\/p>\n<p>Yes I know it's unfashionable to say it. <a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2011\/04\/27\/we-can-have-all-the-services-we-want-right-now-and-still-balance-the-governmentss-books\/\" target=\"_blank\">But someones got to<\/a>.<\/p>\n<p>And remember what\u00a0Schopenhauer\u00a0said about unpopular ideas.\u00a0In the first stage, \u00a0they are ridiculed. In the second stage, \u00a0they are violently opposed. And in the third stage \u00a0they are accepted as self-evident. \u00a0 I am just hoping that we get to stage three on this idea quite quickly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The April manufacturing figures are bad: A raft of disappointing manufacturing figures from the UK and the eurozone on Thursday triggered fresh fears that\u00a0the economic<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/05\/12\/expansionary-fiscal-contraction-proves-to-be-contraction\/\"><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-9990","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9990","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=9990"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/9990\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=9990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=9990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=9990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}