Do you remember when Covid led to empty shelves, panic buying of toilet paper and then when it all ended – a surge in inflation? It was only 3 years ago, though it feels longer. However, US stores could soon see looming shortages as 145% tariffs on China caused a sharp drop in US imports …
Why Local Councils Are Going BANKRUPTWatch this video on YouTube Rubbish piled up on the streets was one of the most evocative images of the 1970s. But the winter of discontent is back with Birmingham city council struggling to stave off bankruptcy. But, it’s not just Birmingham, the national audit office argue that a cumulative …
Will The Stock Market Crash Continue?Watch this video on YouTube Since the start of the year, the Dow Jones has fallen 10%, but this is more than a stock market correction. Bond yields are rising, the dollar is falling and price of gold is soaring. It is an unusual combination to have falling stocks and …
Watch this video on YouTube In 1909, the UK provided the first state pension to those over 70. At the time, the average life expectancy was just 52. Since then, the average life expectancy has increased to over 81. But, the pension age today is 66. It means the average person receives a state pension …
A frequently asked question is – Who does the UK borrow from? Who owns the UK’s government debt? (Asset Purchase Facility = Bank of England) In 2023, UK government debt is primarily held by: Private financial institutions – banks, pension funds, investment trusts and also private households. 30% is held by overseas investors (e.g. American …
How to Tax The Wealthy – Wealth Taxes Which WorkWatch this video on YouTube In the past two decades, average wages have stagnated and government debt has risen. It seems to be an era of austerity. But, it’s not all bad news. UK household wealth has reached a record £13.6 trillion – over six times …
House Prices – What Happens Next?Watch this video on YouTube Here is a graph that often surprises me. If we adjust UK house prices for inflation, they are the same level as 2003. In other words, if you bought a house in 2003, ignore the effects of inflation, then the average house hasn’t increased in …
In the post-war period, there has been a relative decline in the size of UK manufacturing. UK manufacturing used to account for over 50% of the size of the economy. Now, manufacturing accounts for around 12-15%. However, although there has been a degree of ‘de-industrialisation’ the UK still produces more in absolute terms than previously. …