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 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 …
Europe’s population is set to fall from 750 million to 570 million within six decades, and this will have profound economic and social costs. In the 1950s, 1 in 12 people were over 65, now it is 1 in 4. At the end of the century, it will be 1 in 3. Europe’s Fertility Crisis …
Last year, the UK saw a record level of net immigration, 600,000 – and although last year was exceptional, it is forecast to remain above pre-Brexit levels until 2026. Last year was also a year of record rent rises and chronic housing unaffordability. Given the UK’s inability to meet housing targets, how much is immigration …
Housing has never been more unaffordable. Homeownership rates are falling, rents are rising and young people are trapped by a crazy housing market. Against this backdrop, Sir Keir Starmer says he is a YIMBY – he wants to build 1.5 million new homes, even on greenbelt land and we should ignore local opposition to get …
Earlier in the year the UK had record-breaking inflation with both headline and core inflation remaining well above the government’s target and being worse than forecast. As bad news on inflation kept coming the Bank of England increased interest rates 14 times. Finally, in a narrow vote, the Bank paused to halt rate rises. Is …
Readers Question: Is it right that private banks can create 97% of all new money by lending it into existence, and what effect does this have on inflation and the value of money already in existence? Banks can effectively increase the money supply, by lending money. Most money in the modern economy is bank deposits. …