Government & Politics

Negative interest rates offer only a sugar high. They won’t revive monetary policy

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.

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New Statesman highlights Policy Exchange work on modernising the United Kingdom

“Some attention has been given post-election to the Conservative plans for a constitutional commission. But less focus has been given to the significant plans being put together for a re-servicing of the Union. The Policy Exchange think-tank has called for ‘a Grand Strategy to modernise the United Kingdom.’ This is an activist Unionism of a kind only glimpsed before.”

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How to transform the Government’s digital leadership

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).

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Whitehall Reimagined

The Government should use the opportunity of the stability created by the election result to reform the civil service to make it more democratically accountable and better able to deliver on the mandate of the government of the day. Better decision making, streamlined processes and improved accountability will lead to improved policy making and legislation, more effective delivery and improved public services, benefiting every part of the UK.

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Constitutional government, parliamentary democracy and judicial power

Richard Ekins revisits the nature of constitutional government in a parliamentary democracy, answering some related criticisms of the Judicial Power Project.

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UK Parliament

The Speaker should allow a third meaningful vote on the Brexit deal

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.

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Latest Government & Politics Publications

Electoral Omission

Electoral Omission

Electoral Omission highlights how the administration of elections in the UK remains dangerously inefficient and open to fraud and predicts that there will be up to 15.5 million errors on the UK’s electoral registers at the time of next year’s General Election. The report recommends the introduction of targets for the maximum number of omissions and errors in the electoral register and annual checks to measure accuracy, along with small council tax rebates to encourage people to complete and return their voter registration forms.

Northern Lights: Public policy and the geography of political attitudes in Britain today

Northern Lights: Public policy and the geography of political attitudes in Britain today

Is there a north-south divide political divide? A major study into public attitudes – Northern Lights – examines the new political and social geography of England. The research finds that the way people vote is less and less determined by their social class, and more by how they think the government is performing and their attitudes to controversial issues like migration and crime.

Reforming Public Appointments

Reforming Public Appointments

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Reforming Public Appointments shows that equality policies set up under the last government are failing to promote people from working class communities to public office. It calls for an extension of the entire equalities policy to increase representation of people from routine and manual occupational backgrounds, and for greater transparency about the membership of interviewing panels for public appointments.

Latest Government & Politics Blogs

An Irish perspective on the Brexit Talks so far

An Irish perspective on the Brexit Talks so far

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.

The real questions behind Vice Chancellors’ pay

The real questions behind Vice Chancellors’ pay

Rebecca Lowe Coulson — Policy Exchange’s State and Society Research Fellow — reflects on the way in which the escalating rate of VC pay seems neatly emblematic of the pressing questions the Higher Education sector is facing. Policy Exchange is currently undertaking work on this topic, with a report due out in the autumn to coincide with the start of the new academic year.

The mechanics of the DUP deal

The mechanics of the DUP deal

Dr Graham Gudgin – Policy Exchange’s Chief Economic Adviser, former Director of the Northern Ireland Economic Research Centre, and Special Advisor to the Northern Ireland First Minister from 1998-2002 – examines the deal signed this week between the Conservative Government and the DUP, and argues that Scottish nationalist criticism of extra spending in Northern Ireland is hypocritical and misplaced.

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RT @SHCLon Minister @MTI_Sg Chan Chun Sing was happy to join Secretary of State for @tradegovuk @trussliz and a distinguished panel for a @Policy_Exchange webinar to discuss 'Global Britain and the CPTPP'. Catch the exchange below! 👇 youtu.be/YbhFtNRbxPM

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RT @SHCLon Minister @MTI_Sg Chan Chun Sing was happy to join Secretary of State for @tradegovuk @trussliz and a distinguished panel for a @Policy_Exchange webinar to discuss 'Global Britain and the CPTPP'. Catch the exchange below! 👇 youtu.be/YbhFtNRbxPM

About 2 days ago · reply · retweet · favourite