Posts Tagged Brexit

Economists have lost the public’s trust by meddling in politics

Economists have lost the public’s trust by meddling in politics

Michael Gove famously said during the Brexit campaign that people “have had enough of experts”. Certainly, the outcome suggests that many were sceptical of the doom-laden economic projections of Project Fear. But what do the public think about economists themselves? An intriguing survey released last week by

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Claims that a low tax, low regulation UK would be a disaster are rubbish

Claims that a low tax, low regulation UK would be a disaster are rubbish

Dame Minouche Shafik, Deputy Governor of the Bank of England, is leaving to become Director of the London School of Economics.  Last weekend, she gave her final interview wearing her Bank hat. Shafik issued what was described in the media as a “thinly veiled warning” to the

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Why the economics profession remains blind to the benefits of Brexit

Why the economics profession remains blind to the benefits of Brexit

The office for National Statistics last week estimated that the UK economy grew at an annual rate of 2.4 per cent in the final quarter of last year. This is slightly above the long-term average growth of the past three decades. But a Financial Times survey this

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The death of cash, the rise of trade unions and other eclectic 2017 predictions

The death of cash, the rise of trade unions and other eclectic 2017 predictions

It’s certainly been an eventful year. But rather than dwell on the past, what sort of things can we expect in 2017? Here are a few eclectic predictions. Sweden may become the world’s first cashless economy. Notes and coins are already fast disappearing as a means of payment, and

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From the NHS to Brexit, give people a choice and they’ll make a good one

From the NHS to Brexit, give people a choice and they'll make a good one

A current headache for the government is the performance of the NHS, and whether it is running out of money. This was making the front pages until the judges’ decision on Brexit pushed it off. Successive governments have discovered that the finances of the health service are

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No wonder free trade is under threat: we’re just rediscovering its losers

No wonder free trade is under threat: we're just rediscovering its losers

It had been an article of faith among economists and policy-makers that free trade is a Good Thing. Trade liberalisation was a key feature of the world economic order enforced by the United States after the Second World War. For decades, the trend of removing trade barriers led to

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Look to Twitter for why Britain’s economy proved Project Fear wrong

Look to Twitter for why Britain's economy proved Project Fear wrong

The economic data on post-Brexit Britain is beginning to emerge.  We discovered last month that employment in May to July grew by 174,000 compared to the previous three months.  Last week, the Office for National Statistics published its estimate for the output of the service sector of

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Brexit was the final straw: it’s time to scrap the IMF

Brexit was the final straw: it's time to scrap the IMF

Sports fans will all be familiar with the commentator who almost always gets things wrong. “Arsenal are very much on top here” he – it is invariably a “he” – will pronounce, or “Root is looking very settled”, only for the opposition to score a goal immediately

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Corbyn is completely out of touch with the real debate about UK austerity

Corbyn is completely out of touch with the real debate about UK austerity

Following the Brexit vote, normal service seems to have resumed. A key question in economic policy since the General Election of 2010 has moved centre stage once again: should the government abandon austerity? At one level, the question has an easy answer. Interest rates are now so low

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Why the economic picture tends to be rosier than initial estimates suggest

Why the economic picture tends to be rosier than initial estimates suggest

One of the surprises of last week was the Office for National Statistics (ONS) estimate of economic growth in the second quarter of 2016, the period from April to the end of June. In the run up to Brexit, the economy expanded by 0.6 per cent on

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