Named after economist John Maynard Keynes, who believed the best way to ensure economic growth and stability is via government intervention in the economy.
When times are good, a government should raise taxes and curb public spending to ensure the public finances are robust. As soon as times get harder, tax cuts to help those still in work should be accompanied by public spending on infrastructure projects, such as schools, road maintenance maybe even an Olympic village. That keeps people in work even as job losses hit the private sector. If people are kept in jobs they will keep on spending and borrowing, which in turn supports firms and reduces the impact of a recession. So the theory goes.
The 30 house price hotspots
While we have seen house prices sliding, these sought-after locations have seen prices jump by at least 5% over the previous 12 months
By John Fitzsimons Published
Working parents will be entitled to 15 hours free childcare for two-year-olds from next year
The government has extended free childcare hours to working parents of two-year olds but it won’t be automatic so make sure you don’t miss out
By Marc Shoffman Published