I have been using Chat GPT for a while and was initially shocked at what it produces. For years I have been teaching the Luddite Fallacy to students, but now for the first time in my life understand what it means to fear how technology is coming for your job. The Luddite fallacy is the …
In 2016, Britain voted to leave the EU, and there was euphoria amongst Vote Leave, who hoped it would lead to a national resurgence, lower migration and other countries lining up to leave the EU. Yet, five years after officially leaving, regret for the decision has never been higher. The economy is stagnating, immigration soared …
From 1957 to 2016, the European Union was a one-way club. “You could join, but no one left.” The Brexit referendum was a shock. For the first time, a member state decided to leave. Brexiteers were hopeful, and the EU was fearful that this would be a tipping point, encouraging other countries to follow suit …
The UK tax burden is rising to the highest level since the Second World War. The IFS stated it will be a record-breaking parliament for tax rises. The only chancellor to actually cut taxes was Kwasi Kwarteng, whose bold, unfunded tax cuts, led to higher bond yields and a fall in sterling. But, if …
Readers Question: As the cause of inflation to a large part is down to energy costs, if they are temporary, will we see large deflation if we see a return to something close to ‘normal’? Typically deflation would be a bad thing, but in this case would it be? Firstly, you are correct a large …
How many migrants have come to the UK in recent years? Total net migration over the past 20 years:is around 5.5 to 6.0 million people Between 1991 and 2021, the ONS estimate 14.64 million immigration 10.36 million emigration 5.55 – Net Migration (average of 177,000) Net Migration past 20 years 2005–2010: ~200,000 per year 2011–2015: …
In recent years, the British Banking system has become highly concentrated due to the wave of mergers following the credit crunch. The big seven for UK retail customers are HSBC, Barclays, Lloyds, Natwest, Santander, Nationwide and Metro. Top 10 UK Banks (by Size) Ranked by total assets (UK-registered entities). 1 Barclays Bank Largest UK bank …
What happens when the value of Pound Sterling falls? Summary of a falling Pound UK imports become more expensive UK exports become cheaper to foreign buyers – UK exports are more competitive. Higher inflation. A falling Pound tends to cause higher inflation because of rise in import prices and higher demand Higher growth A fall …