This is a scheme run by either a government agency or a private company which aims to insure the deposits of private investors in case a bank goes bankrupt. The advantage of deposit insurance schemes is that they can prevent individuals and firms from losing their savings. Also, the security of having deposits insured prevents …
Readers Question: Why are there government spending cuts at a time of rising government spending? One of the confusing elements of ‘austerity’ and government spending cuts is that from one perspective, we can have a rise in total government spending – but some areas of government spending see cuts. Source: ONS Public Sector Finances MF6U …
Readers Question: If there is a significant slowdown in the rate of Chinese economic growth – how will it affect the UK and other global economies? Summary The Chinese economy has been growing very rapidly, and is now one of the biggest economies in the world. The size of the Chinese economy means it has …
The government is committed to reducing government spending as a % of GDP to 35% – one of the lowest percentages since the 1930s. However, despite very strict government spending limits, (which see some departments spending cut by 30%), the government are still committed to a triple lock guarantee for pensioners. The triple lock guarantee …
The London housing market is one of the most expensive places in the world. In Sept, 2015, the average London house price is now just under £500,000 (BBC) Since 2013, house prices in London have risen 40%, defying a weak economy and stagnant growth in average earnings. London house prices are 7% higher than the …
The average UK household receives on average £6,045 a year in government benefits (2013/14) (ONS, average incomes table 14, June 2015) The main benefits are: State pension Tax credits Housing benefit Unemployment benefit Disability allowance / incapacity benefits Student support Child benefit See benefit spending UK The biggest benefit is the state pension, with the …
Income deciles show the average income for different income groups in society. A decile splits the population (by households) into 10 equal parts. Assuming there are 26 million households in the UK (2013/14) The bottom decile is the 2.6 million households with lowest income. The 2nd decile is the 2.6 million households in the next …
When I moved to Oxford in 1995, I don’t remember seeing any coffee shops apart from the odd independent coffee/tea houses. There was no major chain like – Starbucks, Costa, Coffee Republic. Now in 2010, I can visualise at least 10 off the top of my head. Costa coffee shops seem to be springing up …