Last week, the Nationwide reported a sixth consecutive monthly fall in house prices. They are now 6% down on last summer’s peak with buyers able to get an average £14,000 off the asking price. Annual price changes are falling at the fastest rate since 2012. Yet, some analysts wonder if the worst is already over? …
In the post-war period, there was a dramatic decline in income inequality in the UK. However, from the early 1980s, this went into reverse with a sharp rise during the Thatcher years. Unequal Britain: UK's Inequality Crisis ExplainedWatch this video on YouTube The UK has now one of the highest levels of inequality in the …
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 …
Earlier this year, the World Bank warned up to 40 nations are at risk of defaulting on their sovereign debt. Already Sri Lanka, once hailed as an economic jewel, has badly defaulted as the country slides into economic turmoil. But, the bank warns many others, such as El Salvador, Ghana, Tunisia, Egypt, Kenya and Argentina …
Readers Question: How important is the budget deficit? The budget deficit is the annual amount the government borrow. The government usually financed the budget deficit by selling bonds to the private sector To libertarian and free-market economists, budget deficits are liable to cause significant economic problems – crowding out of the private sector, higher interest …
Despite the urgency of climate change and the rapid fall in the price of renewable energy sources, the world still relies on nearly 80% of its energy source from fossil fuels. Accelerating the shift away from fossil fuels will have large environmental and economic benefits, yet progress is much slower than we need. The problem …
War has always had substantial economic costs, but war is becoming increasingly costly for both belligerents and bystanders. This is due to both the monetary costs of fighting and the economic fallout of sanctions. During the cold war, there was a theory that nuclear war would ensure a mutual self-destruction – and this assured mutual …
Inflation is a sustained rise in prices and increase in the cost of living. The general costs of higher inflation will be reduced purchasing power of money, fall in the value of savings, a depreciation in the exchange rate, less certainty for firms and the inconvenience of dealing with changing prices. In addition, developing economies …