Tax cuts could do for our economy today what the Reformation did 502 years ago October 31, 2019 On this day in 1517, German monk Martin Luther nailed his 95 Theses to the door of All Saints’ church in Wittenberg. In so doing, Luther set in motion a series of events which would have a dramatic impact on the political landscape of Europe, transform the economy, and alter the lives of ordinary people [...]
UK consumer confidence at six-year low ahead of election October 31, 2019 Brits’ confidence in the economy fell back to its joint-lowest in six years this month, a survey showed today, as yet more Brexit uncertainty increased consumers’ gloom. Read more: Fourth time lucky as MPs back Boris Johnson for December election The consumer confidence index from market research institute GfK fell to minus 14 in October. [...]
US Federal Reserve lowers rates again but signals it is done cutting October 30, 2019 The US Federal Reserve took the axe to interest rates for the third time in a row today, just hours after data showed the US economy slowed in the third quarter. Read more: US economic growth beats expectations with Fed poised to cut rates Fed president Jay Powell struck a more cautious tone than at [...]
US economic growth beats expectations but Fed still set to cut rates October 30, 2019 US economic growth slowed in the third quarter but beat expectations as consumer spending and higher exports offset a fall in business investment. Read more: S&P 500 hits all-time high on trade and Fed optimism The US economy grew at an annual rate of 1.9 per cent between July and September, the US Commerce Department [...]
The economic impact of Brexit tariffs only tells us half the story October 30, 2019 Brexit is about much more than the economic costs and benefits, but the idea that the former dramatically outweigh the latter has become the received wisdom in much of the media. Report after report emerges which purports to show that, under any of the various trade arrangements envisaged, the UK will be worse off as [...]
Number in low-paid jobs hits record low but wages suffer October 29, 2019 The proportion of people in low-paid jobs fell to its lowest level on record last year, official figures showed today, thanks in large part to a rising minimum wage. Read more: UK women earn £263,000 less than men over working lives Nonetheless, when adjusted for inflation median pay was almost three per cent lower than [...]
Spending watchdog to publish forecasts despite scrapping of Budget October 29, 2019 The UK’s tax and spending watchdog has said it will publish an updated version of its March fiscal forecasts next month, despite chancellor Sajid Javid cancelling his Budget due to the Brexit extension. Read more: Chancellor Sajid Javid admits 31 October Brexit deadline ‘can’t be met’ The Office for Budget Responsibility (OBR) also said that [...]
Gender pay gap: UK women earn £263,000 less than men over working life October 29, 2019 British women will earn £263,000 less than their male counterparts over their life, according to new data from the Office for National Statistics (ONS). The ONS study shows that the average working woman can expect to take home 59 per cent of what the average man takes home. Read more: UK inflation stays at Bank [...]
UK spending rules should focus on investments rather than debt, economists say October 29, 2019 The UK needs new rules on taxing and spending in order to adequately tackle the major economic challenges the country looks set to face over the next decade, a new report has said. Read more: Hey, big spender: IFS boss Paul Johnson on the end of economic orthodoxy Rather than simply focusing on public debt [...]
Wealthy UK cities showing resilience to retail downturn October 28, 2019 A group of wealthy cities such as London and Cambridge are faring relatively well during the UK retail sector’s downturn while shops in poorer and more rural areas suffer, a new report has said. Read more: Retailers brace for tough Christmas as confidence slumps Shopping parks have also shown resilience as the bricks-and-mortar retail sector [...]
