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

The Devolution Distraction

The Devolution Distraction

In the first part of a major study into local government financial reform, Policy Exchange examines the history of local government funding in England and Wales, from feudalism through the Victorian period to present day. The authors show how the contemporary system of highly centralised control is a product of the government’s desire to maintain uniformity and fiscal discipline.

Latest Government & Politics Blogs

Election 2017 – Benjamin Disraeli: ‘There is no finality in politics’

Election 2017 – Benjamin Disraeli: ‘There is no finality in politics’

‘I have done a terrible, terrible thing. I have voted Labour for the first time. My father and grandfather would turn in their graves, but I was worried about my pension. All I have is my house and the state pension that I manage on.’ These were the words of a typical voter – who had initially pledged Conservative – when she was reminded by Tory canvassers to vote last Thursday evening in a marginal constituency in Plymouth; later that night, the seat changed hands, from Conservative to Labour. Many things went wrong for the Prime Minister and the Conservative Party in this General Election — so what, asks Warwick Lightfoot, Director of Research at Policy Exchange, are the lessons that can be taken from this voter’s change of heart?

The Prime Minister is right to assert that Islamist ideology is one of the key threats of our time

The Prime Minister is right to assert that Islamist ideology is one of the key threats of our time

Policy Exchange Director Dean Godson looks at the government’s renewed emphasis on Islamist extremism in the wake of the Borough attacks – and notes Theresa May’s focus on ideology as the “upstream” source of much of the problem. The Government’s task now is to ensure that its policy on counter-extremism is implemented throughout the public sector – which, as all Prime Ministers have found since 7/7, is easier said than done

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RT @DomWalsh13 Good @lizzzburden piece, ft a quote from my @Policy_Exchange colleague Stephen Booth on the value of EU rollovers: “In a world where there’s increasing economic nationalism, the value of locking in existing market access shouldn’t be taken for granted.” telegraph.co.uk/busi…

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RT @DomWalsh13 Good @lizzzburden piece, ft a quote from my @Policy_Exchange colleague Stephen Booth on the value of EU rollovers: “In a world where there’s increasing economic nationalism, the value of locking in existing market access shouldn’t be taken for granted.” telegraph.co.uk/business/2020…

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