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Both Wall Street and the City of London are speculating whether the next innovation in monetary policy will be the use of negative interest rates as a deliberate tool. The new Governor of the Bank of England, Andrew Bailey, has changed the Bank’s position from that of the previous Governor, Mark Carney, who made clear that negative interest rates were not a proposition he was seriously considering. The central bank’s Chief Economist, Andrew Haldane, and one member of the Monetary Policy Committee (MPC), Silvana Tenreyro, have canvassed the idea.
The call from the Prime Minister’s Senior Adviser, Dominic Cummings, for “data scientists, project managers, policy experts and assorted weirdos” has sent heads spinning in Westminster and on Twitter. But what does this mean in practice and where should he start? Well, as Policy Exchange pointed out in Whitehall Reimagined, the Government has a unique opportunity to revitalise its digital leadership. Key to the fulfilment of their digital ambitions will be the appointment of the newly-created Government Chief Digital Information Officer (CDIO).
Richard Ekins revisits the nature of constitutional government in a parliamentary democracy, answering some related criticisms of the Judicial Power Project.
The Speaker is right that the “same question” rule is well precedented and would need consideration in this case. But it would be quite wrong to apply the “same question” rule to disallow a third meaningful vote on the Government’s Brexit deal.
The unexpected defeat of Malaysia’s governing coalition in the general election has been greeted with a mixture of surprise and delight by the Western media – but are they right?
20 years on from the Good Friday Agreement, Lord Bew – Emeritus Professor of Irish Politics, Queen’s University Belfast – finds the accord in relatively good health. Despite concerns generated by the UK’s decision to leave the EU, cross-party support for the Agreement has increased and there are signs that the DUP & Sinn Fein are gearing up to try to restore power sharing.
More Police and Crime Commissioners take over fire and rescue services – good news for frontline services
Policy Exchange’s Director of Research & Strategy Rupert Oldham-Reid welcomes the announcement that 3 more PCCs are taking over local fire & rescue services. He argues that this policy – which came from Policy Exchange – is good for taxpayers, local people and strengthens democracy.
Reflecting on the Foreign Secretary’s speech at Policy Exchange last week, Director of Research and Strategy Rupert Oldham-Reid summarises the speech.
On Sunday, Germany will go to the polls to elect the nineteenth Bundestag. Rebecca Lowe — Convenor of Policy Exchange’s Research Group on Political Thought, and Judicial Power Project Fellow — reflects on the campaign and the possible outcomes.
Former leading Irish Ambassador Ray Bassett — now Policy Exchange’s Senior Fellow for EU Affairs — examines the state of play in Brexit negotiations so far. Dr. Bassett notes that little progress has been made on key three issues that are holding up the negotiations – reciprocal rights of EU and UK citizens, the Brexit Divorce Bill and the Irish border. However, he suggests that there is less unanimity in the EU27 position than appears on surface and that the new Taoiseach, Leo Varadkar, may dissent from the official EU position on the need to establish a customs border. Ultimately, as negotiations continue, the power of decision will shift from Brussels to Berlin, suggesting that pragmatism and self-interest may prevail, with a good trading relationship prioritised over the desire to punish the UK for leaving.