Recently the ONS produced a long-term forecast for spending and taxation. It makes for grim reading. Assuming policy doesn’t change, they forecast UK debt will rise to levels last seen in the Napoleonic Wars. This forecast also assumes there are no external shocks like Covid or the Ukraine war. At the same time, bond investors …
Hampshire is one of the more prosperous parts of England, average house prices are over £400,000, but Hampshire County Council has the largest deficit in the UK. Like many local councils, it is at risk of bankruptcy. The council is spending more, but residents appear to be getting less. In 2011, the council spent 52% …
The UK economy has undergone a real battering in the past 15 years. For decades, the UK grew around 2% a year, but per capita incomes are now barely increasing. It’s not just about a global downturn, the UK has fallen further behind similar economies like France and Germany on key metrics like income and …
First time buyers have seen Mortgage payments as a share of income rise significantly in the past 2 years, increasing the cost of buying a house. However, the private rented market has been even more problematic. In the past four years, rents have risen 20%, pushing tenants to spend a higher share of income on …
How Short-Termism Is Destroying the UK’s FutureWatch this video on YouTube Back in 2010, when Nick Clegg was asked about nuclear power he said it was pointless because it wouldn’t be ready until 2022. As it happened, 2022 came and went, with an unprecedented surge in global energy prices. Although this was ironic bad luck, …
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 …
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 …
Since 2019, The German economy has gone into an unexpected decline, posting the 2nd worst performance in Europe. GDP is stagnant, the car industry in decline, real wages falling and discontent rising. For many decades, Germany was the powerhouse of the European economy with rapid growth transforming living standards, but this has come to a …