Housing Associations have no accountability and a 2-year-old has paid the price
The tragic death of Awaab Ishak, the two-year-old killed by exposure to mould, has been described in detail over the last week. We’ve heard of all the complaints made against Rochdale Boroughwide Housing (RBH), the housing association which owned and managed the flat. And yet, the organisation appears to be full of self-congratulation. It boasts […]
Everyone wants a pay rise, but we will have to pay with cuts to jobs or services
The nation seems to be in the grip of an epidemic of cognitive dissonance. Where is Matt Hancock when we really need him to impose a lockdown and save us from this menace? Two major events have put huge strain on the public finances. The pandemic led to government borrowing of some £400bn, around 20 […]
Sunak’s flexibility has been curtailed by our undue reverence for the Bank of England
Rishi Sunak will deliver an updated Autumn Statement next week, after Liz Truss’ so-called “mini-budget” triggered her demise. His freedom for manoeuvre has been sharply contained by the new found reverence being accorded to the Bank of England and the Office for Budget Responsibility. The Bank of England has forecast a long recession, which could […]
How will London grow? The updated 2022 GLA growth forecasts
Over the past twenty years the Greater London Authority (GLA) has produced forecasts of population and employment growth across the capital. These forecasts help us understand how and where the capital is expected to grow or change in future years. The GLA has recently produced an update to their employment forecasts, updating previous projections produced […]
Not all is doom and gloom: a recession is not the only possible scenario facing Britain
The prime minister and the Chancellor are struggling to “balance the books”. Around £50bn might be needed from a combination of cuts to spending plans and increases in taxation. This has led to a chorus of voices squealing about austerity creating a major economic recession. The argument goes back to Keynes, writing in the aftermath […]
It’s time to go back to basics and go about fixing our deficit before more tax cuts
As inflation pushes prices further and further up, food has been getting more expensive for some time. But, as the cliche goes, there was never such a thing as a free lunch. This idea, well known among economists, means prosperity depends upon making the effort to raise productivity. These are concepts which Western electorates are […]
Our public services will keep falling apart as long as our economy continues to stagnate
History is full of examples of the right set of policies being introduced at the wrong time. A dramatic example is the case of Lavrenty Beria, who was the head of the Soviet secret police from the late 1930s. Immediately on Stalin’s death in March 1953 he took control of the government machine, only to […]
Fooled by correlation
One of the most important lessons from statistics is correlation does not imply causation. This tells us that a relationship between two items does not necessarily mean that one causes the other to occur. A classic example for this is ice cream sales and shark attacks. In the US these two things are strongly correlated. […]
An information campaign on energy usage would have made a lot of economic sense
The prime minister’s apparent veto of a plan to persuade people to use less energy this winter has stirred up controversy. The usual rabble have been quick to decry Liz Truss for abdicating responsibility, following the old lines of those who wanted more or less restrictions during the pandemic. But economic theory can readily justify […]
Our team is growing!
Volterra is delighted to announce the arrival of three new Economic Consultants. Charlie Crosbie recently completed his master’s degree in International Development at the University of Manchester. He has a particular interest in social impact as well as globalisation, trade and industry. Karishma Panchani, who completed a master’s degree in Economics from University College London, is interested in development economics and econometrics. Her presentation […]
