economy

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    Brexit assessments: ignorance isn’t bliss — quantitative forecasts do matter

Brexit assessments: ignorance isn’t bliss — quantitative forecasts do matter

When questioned about the government’s Brexit sectoral impact assessments, David Davis said there were none, because “economic forecasts do not work”. Costas Milas explains why this excuse does not hold up.

Quizzed at a hearing of the Exiting the European Union Committee, Secretary of State for Exiting the European Union David Davis stated that there are no sectoral impact assessments […]

  • Permalink Leader of the Conservative Party David Cameron discusses the Budget on the eve of the Budget with George Osborne (L) Shadow Chancellor of the Exchequer, Theresa May Shadow Secretary of State for Work and Pensions and Shadow Minister for Women and Kenneth Clarke (Far Right) Shadow Secretary of State for Business, Tuesday March 23, 2010Gallery

    How the Conservatives’ austerity rhetoric won them GE2015, and almost cost them GE2017

How the Conservatives’ austerity rhetoric won them GE2015, and almost cost them GE2017

Paul Whiteley, Harold D. Clarke, and Marianne Stewart explain why austerity is no longer an election winner – neither economically nor politically. They argue that David Cameron’s government reaped political rewards through its austerity rhetoric, but the strategy backfired in the next election, when many voters believed a Conservative government would impose more hardship on them.

In our book on the 2015 general election we […]

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    Budget 2017: the flawed math behind corporation tax (and the Government’s messed up priorities)

Budget 2017: the flawed math behind corporation tax (and the Government’s messed up priorities)

The Chancellor reiterated a commitment to keep UK corporation tax at low levels in this year’s Budget. Grace Blakeley explains why Hammond’s figures are flawed, and writes that, as public sector workers, public services, and universal credit recipients all face hardship, people have every right to question the Government’s priorities. 

In his 2017 Budget, the Chancellor reiterated the Government’s commitment […]

Budget 2017 and the economy: bad news all round

Following the 2017 Budget, Michael Ellington and Costas Milas offer some first comments on why, regardless of whether one supports Britain’s exit from the EU or not, the current situation is not good news.

To keep Brexiteers off his back, Chancellor Hammond did not spell it out, but Brexit-related uncertainty is taking its toll on the economy: anaemic GDP growth […]

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    The Brexit vote has caused a significant rise in prices, especially food

The Brexit vote has caused a significant rise in prices, especially food

Since the referendum, UK inflation has risen faster than that of the Eurozone. Price rises have varied across sectors, but Josh De Lyon, Swati Dhingra, and Stephen Machin show that the rise in the growth rate of food prices has been particularly pronounced. As a result, real wage growth in the UK has again turned negative. 

The pattern of significantly higher price inflation […]

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    How will a Bank of England interest rate hike affect the economy?

How will a Bank of England interest rate hike affect the economy?

In anticipation of the Bank of England’s interest rate hike, Michael Ellington and Costas Milas consider the Monetary Policy Committee’s options, and suggest that a hike be avoided until the direction of the Brexit negotiations becomes clearer.

Greek philosopher and mathematician Pythagoras of Samos famously said that “Silence is better than unmeaning words”. This is something that the Bank of […]

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    The Contradictions of Capital in the Twenty-First Century: The Piketty Opportunity

The Contradictions of Capital in the Twenty-First Century: The Piketty Opportunity

In The Contradictions of Capital in the Twenty-First Century: The Piketty Opportunity, editors Pat Hudson and Keith Tribe bring together contributors to respond to, and build upon, the possibilities offered by Thomas Piketty’s Capital in the Twenty-First Century. While George Maier would have welcomed more attention on the broader cultural, political and social facets of inequality beyond an economic […]

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    EU-India trade has tripled since 2000, while UK-India trade is static

EU-India trade has tripled since 2000, while UK-India trade is static

As EU and Indian leaders meet in Delhi, Maria Demertzis and Alexander Roth look at the figures on trade. The UK’s place in the relationship warrants special attention. EU-India trade has more than tripled since 2000, but UK-India trade is largely static. The shift is especially noticeable for EU exports to India, where the UK share has dropped from […]