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. …
UK Households Set to be POORER by 2030Watch this video on YouTube After 15 years of stagnating living standards, a new report suggests that after housing costs, real disposable income are likely to continue falling for the next five years. The decline will be felt by all income groups, but those on benefits, poorer households, …
How to Deal with AI – Universal Basic IncomeWatch this video on YouTube AI is coming for your job. It doesn’t matter if you are taxi driver, accountant or god forbid writer and podcaster, AI and chat bots are going to be able to do it better. Goldman Sachs forecast 300 million jobs could be …
Can European Economy Catch up and Overtake US Economy?Watch this video on YouTube It’s been a bad few years for the European economy – inflation, energy crisis, falling real wages and a stagnant economy – losing ground to China in the east and the US in the west. Whilst US GDP booms, Western Europe seems …
US Debt is Set to Massively INCREASE – Does it Matter?Watch this video on YouTube As a share of GDP, US debt is forecast to rise from the current level of 100% of GDP towards 180% by 2050. This is unprecedented – higher than the second world war. However, the recent budget resolution to …