The UK economy remains on a knife edge, after a year of stop-start economic growth, the Bank of England forecasts continued economic stagnation into 2024. Other forecasters are marginally less pessimistic, hopeful that a fall in inflation will help to increase real wages and consumer spending. UK Economic Forecasts for 2024Watch this video on YouTube …
In the past few months, inflation in the UK has halved from 10 to 4.7%. In the US it has fallen to 3% but ask an average shopper and they may express scepticism, the cost of living seems to be rising much faster. In 2021 Jordan Peterson tweeted that he believes inflation was 15% rather …
In 2016, the UK voted to leave the EU. Before, 2016, Eurosceptics would talk in admiring terms of Norway and Switzerland. Countries outside the EU, but with most of the economic benefits. The problem is that after the simplicity of a campaign to leave the EU, the question of what came next was surprisingly tricky. …
In 1979, Mrs Thatcher was elected Prime Minister of the UK. At the time, the UK was experiencing double-digit inflation, trades unions were powerful and there were signs British industry was becoming increasingly uncompetitive. Mrs Thatcher introduced revolutionary economic policies which had a deep impact on the UK economy. They were characterised by a belief …
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 …
And after a decade long-boom in house prices, the past 12 months have been a real turning point. Real house prices have already fallen 13%, and last month Rightmove reported a £6,000 decline in average asking prices. But some commentators believe the worst is still to come due to higher interest rates and a struggling …
Since 2008, the UK’s growth rate has slowed down sharply. Before 2008, productivity grew at 2.2%, but in the past 15 years, it has averaged just 0.5%. It is not just the UK which has seen a slowdown in productivity, but the UK has definitely fared much worse. It has become known as the UK …
After years of delays and rising costs, HS2 has been severed. The most valuable part of the route, connecting the north to London has been cancelled leaving the least valuable section a suburb of Birmingham to a suburb of London (hopefully it will make it to Euston but no guarantee). It risks being a £50 …