Monthly Monetary Updates 2026
An archive of Professor Tim Congdon's Monthly Monetary Updates from the year 2025. In this archive you can find a link to his Monthly Note videos, the Money Notes (PDF) and also the slides used in the Monthly Notes (PDF).
January: British debt - the case for a balanced budget rule
In this video, Professor Tim Congdon expresses concern about the excessive borrowing by UK governments since the Great Financial Crisis of 2007-2009, which contrasts sharply with the last 1990s and early 2000s when public debt was a much lower percentage of GDP. He places the blame fairly and squarely on neo-Keynesianism and its belief that the best way to deal with an econoic downturn is for governments to borrow more and spend more. A well-managed monetary policy, rather than fiscal largesse, is the key to stable and sustaned economic growth.