The UK is in recession, but the real story is 13 years of stagnant wages. 0% growth in real wages is unprecedented in the post-war period. This period of flatlining growth is leading to higher taxes and fewer public services. It is an unwelcome cycle of low growth, low investment and increasing pessimism. But …
10 Reasons Why Italy Become the Worst Performing EconomyWatch this video on YouTube Italy ranks 5th in the global league for tourist destinations, and its easy to see why, beautiful countryside, great weather and a rich legacy of art and culture. But, these historic assets have been unable to prevent Italy being one of the …
In the past few decades, the European economy has fallen behind. Whilst the US economy booms, Europe struggles to avoid recession. In dollar terms, in 2008, the EU was 90% the size of the US, today it is 65%. As a share of world GDP, Europe is declining, overtaken by China and in the future …
In the past 13 years, the UK has seen an unprecedented stagnation in real incomes. If Pre-crisis growth had been maintained, real incomes would be around £7,000 higher. Whilst global events like Covid and Ukraine War are mitigating factors, the UK economy has still performed relatively worse, with one of the poorest performances in real …
In 2016, some argued the UK had the best of both worlds – membership of the EU, but opt outs from the Euro and Schengen Agreement, plus a generous rebate. However, since leaving the EU, the UK economy has experienced numerous problems, lower growth, lower investment and devaluation of the Pound, with some arguing GDP …
Since the great financial crash of 2007, the UK economy has struggled. Although the past 15 years have been challenging from a global perspective, compared to many international competitors, the UK has slipped behind. Economic growth before global financial crisis of 2007-09 was 2.7%, the new normal is now closer to just 1.5% and with …
As the chancellor Kwasi Kwarteng was announcing his radical budget of energy bailout, and tax cuts for corporations and high-income earners, the markets took a dim view. Sterling fell and bond yields on government debt rose as investors sold UK bonds in response to the deteriorating outlook. Uniquely for such a large change of …
A recession is a period with a significant decline in economic activity characterised by falling GDP, rising unemployment and a decline in real incomes. A quick and simple definition of a recession (used in the UK and EU) is – negative economic growth for two consecutive quarters. The US uses a more comprehensive definition of …