Tag: budget

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Travel Trumped

The travel and tourism sector of the U.S economy takes quite a hit from Trump‘s anti Canada and Europe tariffs and rhetoric. The Wall Street Journal (2025-6-3) reports data until May 2025  which show a 6% decline in international air travel and a 12% reduction in air arrivals from Europe (reference same period last year). Canadians seem to reduce their travels to the US as well, hitting many regions just across the long joint border. Airline bookings are an early warning indicator, but the more drastic figures are to be expected from the loss of spending tourists do not dispense in the US any more. Additionally, sizeable shares of US tourists travel to other countries due to the disgusting Trump rhetoric and spend their holiday budgets elsewhere. Trump‘s tariffs has focused a lot on redressing the trade balance of goods, but the balance of services like in tourism is worsening day by day now. The political economy of tariffs has multiple feedback effects which are quite hard to predict.

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Waiting time

A new report by Darzi, a former cancer surgeon and past minister of health in the UK, paints a dismal picture of the British health service (NHS) over the last 15 years under conservative rule. The public service has seen no increase in its budget accounting for population growth and the aging of the population. The service is no longer able “to give patients the timely care they need” (The Guardian 2024-9-12 title page). Increased waiting times lead to an estimated 14.000 premature deaths per year. Darzi presents data that show 300.000 persons had to wait longer than one year for a treatment that should have been performed within 18 weeks.

The staff seems desperate for changes as well as they have to spend more time on management of waiting times, time which is lost for real treatment. The quality of care is another issue which awaits urgent attention. Health cannot wait for most patients, but the neglect of investment in hospitals and people is expensive in the longer run. Even the reform efforts should not wait any longer. Time is a precious good and each life matters. (Image back cover of exhibition catalogue Käthe Kollwitz at MOMA 2024).

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UK deficit spending

On 26th of November 2020, in the middle of COVID-19 health care desaster the UK is announcing a horrific budget deficit for 2020. Apparently, this is the largest for more than 100 years. The costs of bad choices in several votes (BREXIT, Parliament, Prime Minister) can be calculated in billions of pounds now. The younger generations pay a particularly high price. Cut of from Europe, job losses due to covid-19 and then the huge debt burden … and this despite the fact that they voted in a majority to stay in the EU. Very unlucky!  As Germany was the sick man of Europe with high deficit and high unemployment I continued my studies in the UK, maybe youth in the UK could take advantage of migrating in numbers to Europe. Sometimes this is the only fact stubborn governments will listen to. So,”get on your bike” across the channel this time. A famous quote from Michael Heseltine to solve the unemployment of youth in the early 1990.

deficit UK