Archive for the Economy Category

No matter how we measure inflation, politics will forever trump economics

No matter how we measure inflation, politics will forever trump economics

THE ECONOMIC Affairs Committee of the House of Lords has got its bovver boots on. Last week, the government was given a sound kicking. The issue was the seemingly esoteric one of how to measure inflation. Inflation tells us how much the prices of goods and services

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Britain’s stagnant regions are stuck in a monetary union trap

Britain’s stagnant regions are stuck in a monetary union trap

The Economic Statistics Centre of Excellence created a bit of a stir at the end of last week with its estimates of growth in the regions of the UK. Since the recovery from the financial crisis began during 2009, London’s economy has grown by 26 per cent.

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The evidence is in from across the Atlantic, and tax cuts benefit everyone

The evidence is in from across the Atlantic, and tax cuts benefit everyone

From discussions on how the UK should reform its tax and regulatory landscape to make the most of post-Brexit opportunities, to the rallies midterm election candidates have been holding across the US championing or lambasting the President’s tax cuts, the debate is still raging about how changes

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John McDonnell’s ideology won’t lead Britain to a bright new future, but to the dismal 1970s

John McDonnell’s ideology won’t lead Britain to a bright new future, but to the dismal 1970s

The focus this week has been on Philip Hammond’s Budget. The opinions of the shadow chancellor have been rather in the background by comparison. But John McDonnell is doing us all a favour at the moment. He is busily promoting a collection of essays which he edited,

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At long last, economists appreciate that private debt was the catalyst for the crisis

At long last, economists appreciate that private debt was the catalyst for the crisis

This month saw the tenth anniversary of the collapse of Lehman Brothers, a collapse which precipitated one of the only two global financial crises of the past 150 years. The late 2000s and early 1930s were the only periods in time when capitalism itself has trembled on

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Unemployment down, GDP up – there’s no logic for a public spending boost now

Unemployment down, GDP up – there’s no logic for a public spending boost now

Despite the warmth of the days, there is a distinct autumn feel to the mornings. And in the autumn, thoughts begin to turn to the Budget. Speculation has already begun about what the chancellor Philip Hammond might or might not do. For Labour, recent weeks have been

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The UK’s capacity to innovate matters far more than panic over consumer spending

The UK’s capacity to innovate matters far more than panic over consumer spending

The debate about Brexit has become mired in a virtually incomprehensible quagmire of detailed and technical negotiations between the UK and the rest of the EU. Yet the campaign itself in 2016 was dominated by broader questions of political economy. In addition to the hurly burly of

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Investors should intervene to stop high executive pay, before the regulator does

Investors should intervene to stop high executive pay, before the regulator does

Shareholder discontent over executive pay continues to rise. Last week, the outgoing boss of BT, Gavin Patterson, was in the firing line. At the company’s annual general meeting, 34 per cent of investors voted against the remuneration report, which included a £1.3m bonus payment to Patterson. Concern

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Mark Carney has bigger things to worry about than meaningless Brexit forecasts

Mark Carney has bigger things to worry about than meaningless Brexit forecasts

The governor of the Bank of England, Mark Carney, is up to his usual tricks. Last week, he claimed in front of the Treasury Committee of the House of Commons that British households are now more than £900 worse off after the vote to leave the EU.

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Brussels elites who fiddled while Rome burned may soon get their comeuppance

Brussels elites who fiddled while Rome burned may soon get their comeuppance

The new Italian government looks set to cause shock waves across Europe. The two parties promise mass deportations of immigrants and huge increases in public spending. Both the social and the economic policies of the Italian coalition clash directly with those of the European Commission, and Germany

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