Fiscal cliff

The phrase ‘fiscal cliff’ was coined to capture the large and predicted reduction in the US budget deficit expected as specific laws kicked into effect from 2013.

In combination, these laws would put a big squeeze on the US economy as the combined impact was to increase taxes (in some cases by ending existing tax breaks originally designed to stimulate the economy) and also reduce state expenditure.

Critics worried that this ‘double whammy’ would send the US economy spiralling back into deep recession.

Paul Hodges: house prices could fall 50% in 'Great Unwinding'

Merryn Somerset Webb interviews Paul Hodges about deflation, the global economy's 'Great Unwinding', and how Britain's house prices could halve.


Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


23 January 1967: Milton Keynes founded

The most famous of Britain's garden cities, Milton Keynes in Buckinghamshire, was founded on this day in 1967, along an American-style grid pattern.