Business UK
Money Talks with Liam Halligan: Patrick Minford, Professor of Economics
Welcome to Money Talks – a series of interviews with Liam Halligan, Economics and Business Editor of GB News.
In this episode, Liam talks to Patrick Minford, Professor of Economics at Cardiff University. During the Conservative leadership contest, when Liz Truss was asked to name any economists who backed her plans, she replied “Patrick Minford.”
Previously based at Liverpool University, Minford made his name as one of the “monetarists” who revolutionised economic thinking in the late 1970s and early 80s. His “Liverpool model” of the economy was based on rational expectations – the idea people make decisions on available information and learn from past experience – which became a popular explanation of why high inflation is hard to shift.
Back then, after 364 economists wrote to the Times attacking the 1981 budget as deflationary, Minford wrote a letter contradicting them, and later became an advisor to Prime Minister Margaret Thatcher.
Now 79, Minford agrees with Truss that tax cuts are needed to prevent the economy sliding into recession. He has encouraged the incoming Prime Minister to face down the Treasury – and give stronger economic growth a higher priority than immediately reducing the national debt.
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Watch as Will Kensington expresses concern about the state of the UK, arguing that Downing Street is no longer a place of power but has instead become Britain’s most expensive Airbnb.
This comes as Andy Burnham is set to become the UK’s seventh Prime Minister in a decade, with seemingly no one challenging the “King of the North” for the country’s top job.
#Labour #PrimeMinister #KeirStarmer #UKNews #GBNews
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Business UK
Cabinet Office DEMANDS LGBT and ethnic figures on bank notes over DIVERSITY – ‘RIDICULOUS!’
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‘We have real pressing financial issues as a country. I find focus on stuff like this quite ridiculous!’
Nana Akua hits out at the Cabinet Office’s suggestion that banknotes should featurre prominent ethnic or LGBT figures from British history.
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Join Martin for an up-to-the-minute take on the day’s events delivered in his own unique and lively style.
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France holds annual Bastille Day parade with different military regiments with foreign troops included. President Emmanuel Macron has invited leaders from The Coalition of The Willing to watch parade.
#paris #bastille #french #zelensky
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‘You have the five permanent members on the security council that can veto, so anything that is done, Russia will veto it.’
Foreign affairs analyst James Marlow discusses the UN’s powers and limitations.
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Listen on DAB+ Radio
Download the GB News App to watch live wherever you are, catch up with all our shows and get the latest news from the GBN family. https://www.gbnews.uk/freegbapp
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@HelenLemink
December 23, 2023 at 12:25 am
This shameless "economist" predicted 8% drop of the cost if living on DAY ONE after brexit ! "Day one" means automatically, just by leaving the EU. Nothing else to do. What an economist !
@alanwoodall7174
December 23, 2023 at 12:25 am
More egg on your face than a whale omelette.
@EG-xq8mj
December 23, 2023 at 12:25 am
This has aged well 😀
@alanmarshall287
December 23, 2023 at 12:25 am
Ironically "On The Money" seems to have been squeezed. Farage and Mark Steyn are rerun overnight. Could not the Halligan sessions be collated and put out overnight then we could record and view next day? Even that would be a poor substitute. Surely GB News must reconsider this especially given the economy is the major news story of our time.
@justaspartan8203
December 23, 2023 at 12:25 am
Liam it’s a real shame GB News have changed the schedules, it really is a backwards step. It’s all over the place now trying to find out what time you are on. Thanks for what you do, it’s excellent. Perhaps you could get this put on Apple Podcasts so we can listen off line?
@donsimon2830
December 23, 2023 at 12:25 am
How do you index everything when we have hyper inflation. I would like to see this professor debate Peter Schiff.
@TheDizzylizzy1977
December 23, 2023 at 12:25 am
Low Corporation Tax and no more "Corporate Welfare" time for businesses to have an equal chance at success and if they fail, no tax payer "welfare."
The left are against low business taxes but they haven't a clue that pre-lockdown over 93billion of our taxes were paid out under Corporate welfare. That means that select companies could take risks they wouldn't usually and we pay if they fail. Those small and medium businesses do not get any help and small businesses are the backbone of our society. Why should they have to subsidise their competitors and why should they be forced to pay every penny abide by every non safety expensive rule, regulation & red tape brought in, which is crippling them and keeping wages low. Big business lobby & fund these regulations knowing they can wipe out future competition. Government needs to get put of interfering in business and reduce VAT & their spending as well.
@georgephillips6181
December 23, 2023 at 12:25 am
Please bring back Liam Halligan’s On The Money show. Really disappointed with this new format. Liam is great.
@gordonmcdonald2196
December 23, 2023 at 12:25 am
The ‘ elephant in the room’ is the sanctions on Russia, which is the real cause of this high inflation. Putting up interest rates to curb inflation will not bring the rate of inflation down. More sanctions on Russia will heighten a shortage of gas and fuel in Europe, which will increase the price of fuel and heating costs, forcing up food prices and increasing inflation more. Increasing interest rates is a blunt and inadequate way of dealing with the Cost of Living crisis. An immediate ceasefire, peace agreement between Ukraine and Russia, and lifting these ridiculous sanctions that have done nothing to stop that war, is the only way to turn back on the normal supply of energy and fuel to the market. This will force down the prices of fuel and energy and quickly reduce inflation to normal levels. Any other way to reduce inflation and costs is just living in cloud cookoo land. Borrowing huge amounts of money, to give to the population, to pay high energy costs, is only going to keep the Russian economy growing and allow European’s economies to go down the pan. Civil unrest this winter in every European Country is coming, as people can’t afford to feed themselves or heat their homes this winter. Have we learnt nothing from history, and the failed political decisions that have destroyed European economies before.
@uingaeoc3905
December 23, 2023 at 12:25 am
The Pound is still overvalued.
@uingaeoc3905
December 23, 2023 at 12:25 am
Sunak Empty Suit was a Treasury Puppet.
@williamvorkosigan5151
December 23, 2023 at 12:25 am
Don't worry. Just keep buying things on the never never. People will always lend to us at minimal interest rates, because they always have in the past. That isn't an argument.
@stansmith9199
December 23, 2023 at 12:25 am
How are we going to reduce the debt/gdp with a non-existent energy policy? I would imagine we ran a large trade surplus following the napoleanic wars making the comparison completely null and void.
@nautique1970
December 23, 2023 at 12:25 am
I’ll trust Minford over the wokery in the BOI & treasury who have failed to do there jobs for a decade !
@hollyylloh515
December 23, 2023 at 12:25 am
God help us, Hand outs= Shameful 👎 Language.lost respect for Torries
Won't vote Torries next time ⬇️👎
@Avidcomp
December 23, 2023 at 12:25 am
Minford says our current interest rates reflect future interest rates to bring down inflation. And he's a professor. It's low interest rates that have misallocated capital and caused inflation.
Don't journalists do any research at all???
@stephenrichards5386
December 23, 2023 at 12:25 am
Cutting VAT has never worked. Businesses keep the reduction as profit.
@stephenrichards5386
December 23, 2023 at 12:25 am
He's a labourite
@Mikebuster
December 23, 2023 at 12:25 am
the inbreeding-bloodline class system in this country has to come to an end, its 122 years late to the party anyway, lets keep that stuff in the victorian era from now on yes?