The current account on the balance of payments measures the inflow and outflow of goods, services, investment incomes and transfer payments. The main components of the current account are: Trade in goods (visible balance) Trade in services (invisible balance), e.g. insurance and services Primary income account – includes – compensation of employees, investment income from …
Faced with a black hole in public finances, the Labour government have announced an end to universal winter fuel allowance for pensioners. It will now be means-tested. It means 9.4 million individual pensioners will lose the £200-£300 a year allowance. It will save the government an estimated £1.6bn a year, which as we shall see …
In May 2016, Britain voted to leave the EU. The only reason David Cameron held a referendum was because he was convinced he would win. But, he hadn’t expected Boris Johnson to make a last minute switch and help galvanise a Vote Leave campaign. Brexit – The Big MistakeWatch this video on YouTube The result …
In the past four decades, China has undergone a genuine economic miracle. 800 million people have been lifted out of poverty, through economic growth that has often averaged close to 10%. China’s rise has changed the world. Our shops are flooded with cheap Chinese consumer goods, and many of our factories closed down. China went …
What can the UK Learn from the Greek Economy? Which is Worse – UK or Greece EconomyWatch this video on YouTube Which country was one of the fastest-growing European economy in the past three years? Yes, you’ve correctly guessed, it was Greece. To the north, the once mighty German economy is struggling to avoid recession, …
The Eastern European Boom When Will Polish Economy Overtake UK and France?Watch this video on YouTube Whilst Western Europe struggles with low growth, Eastern Europe is booming. In the past two decades, Eastern Europe has quietly witnessed an economic transformation, with growth in living standards outperforming the West. Estonia, Poland and Romania have all seen …
The US economy is booming. It was the fastest-growing economy in 2023 and will be the fastest in 2024. The World Bank claims the US is the world economic dynamo and the contrast between the UK and US is stark. Whilst the UK is stuck in economic stagnation, the US shows a different outcome is …
Around 2000, something remarkable happened to the Italian economy. It stopped growing and went into a 20 year long-decline. Even if you adjust for population, Italy’s performance was strikingly worse than its main competitors. If we look at productivity, Italy fell far behind. It has effectively lost two decades with real wages remaining virtually stagnant. …