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. …
The UK was the first country to industrialise, but also one of the first to deindustrialise. UK manufacturing as a a share of GDP has fallen from 30% in 1970 to 8% in 2024. The UK is not unique in smaller share of manufacturing, but the decline has been relatively bigger than other countries. Manufacturing …
It’s pretty easy to talk about the problems with the UK economy – 18 years of low growth, stagnant real wages, low productivity, low investment, housing costs through the roof. The numbers don’t lie. If past trends had continued from 2007, average households would be at least £8,000 a year better off. If we could …
It’s not been a good week for the UK economy with the Bank of England downgrading economic growth and upgrading inflation forecasts. We’re heading for stagflation, the worst of both worlds. If you wanted more bad news, the Bank of England warned that productivity growth may actually be even worse than the pretty dismal statistics …
In the past four years, the German economy has experienced a torrid time. Whilst America has boomed, Germany has experienced the worst recession in decades, with the shock return of high inflation and falling real wages. How Germany Damaged its Own EconomyWatch this video on YouTube In the 2012 Euro debt crisis, it was southern …
In a fast moving, world, it is two days since I wrote this and already, it appears tariffs has been paused. But, it is still all very relevant as who knows what could happen next. Damaging Trade War Begins – 25% TariffsWatch this video on YouTube On the campaign trail, President Trump threatened the highest …
A look at the effect of tariffs on consumers, government tax revenue, domestic firms and net economic welfare.
How Ireland Overtook the UK economyWatch this video on YouTube In the post-war period the newly independent Republic of Ireland still lagged the richer UK economy across the sea. It was a largely agragrian economy, with wages 40% the level of the UK and widespread poverty. But, over the next few decades, the Irish …