Real household disposable income £1500 a year lower than pre-referendum forecast February 11, 2019 UK household incomes are around £1500 lower than they were expected to be before the Brexit referendum, new analysis shows. The UK has seen the sharpest income growth slowdown of any economy covered by the Organisation for Economic Cooperation and Development, while global growth has outperformed pre-Brexit vote expectations, according to data published this morning [...]
Chancellor needs to find extra billions to end austerity February 11, 2019 The chancellor Philip Hammond will have to find billions of pounds to prop up public spending to deliver on promises of ending austerity. According to a report from think tank the Institute of Fiscal Studies (IFS), over the four years from 2019-20 to 2023-24, Hammond would need to find a further £2.2bn to avoid cuts [...]
The Democrats’ rising star is borrowing policies from Ned Flanders February 10, 2019 The rockstar of the Democratic party, Alexandria Ocasio-Cortez, published House Resolution 109 of the 116th Congress last week, an ambitious non-binding resolution dubbed the Green New Deal, and over the weekend economists and academics went over it line by line. The historian Niall Ferguson summed up much of the hostile reaction: “This is what you [...]
Finance minister insists German economy ‘not in crisis’ despite growth slowdown February 8, 2019 German finance minister Olaf Scholz attempted a spirited defence of his country’s economy today, insisting it is “not in crisis” despite weakening growth. Angela Merkel’s finance minister rejected claims Germany is heading for a recession and played down the Eurozone powerhouse’s economic troubles on a rare visit to London. Read more: Irish backstop 'not a trick' [...]
Italian industrial production suffers surprising fall as the country’s economic struggles continue February 8, 2019 Italian industrial production fell sharply in December despite expectations it would increase, as the country entered a recession. Production decreased by 0.8 per cent in December, the Italian statistical office Istat said, a fourth consecutive monthly drop and much lower than forecasts of a 0.4 per cent rise. Read more: France recalls ambassador from Italy [...]
Permanent staff appointments decline at start of 2019 amid Brexit uncertainty February 8, 2019 Permanent staff appointments declined at the beginning of 2019 as recruiters and candidates waited for the outcome of the Brexit negotiations. Permanent placements fell for the first time in two years as companies reported that they were increasingly hesitant due to Brexit uncertainty. Placements also dropped due to a shortage of candidates. Read more: City [...]
Sterling endures rollercoaster afternoon as Bank of England slashes growth forecasts but Brussels talks offer Brexit hope February 7, 2019 Sterling has endured a rollercoaster ride this afternoon after the Bank of England slashed growth forecasts but a glimmer of hope emerged for Theresa May’s Brexit deal in Brussels. The Bank cut its UK growth forecasts to 1.2 per cent in 2019 – from a previous 1.7 per cent projection – citing mounting Brexit uncertainty [...]
Bank of England slashes UK growth forecasts amid Brexit uncertainties and global slowdown February 7, 2019 The Bank of England today decided to leave interest rates unchanged as expected, but slashed UK growth forecasts as Brexit uncertainties mount. The bank's monetary policy committee (MPC), which last raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates for a fourth consecutive meeting. Read more: How will the [...]
Former Greek finance minister Yanis Varoufakis blasts Donald Tusk over Eurozone crisis in response to ‘hell’ tweet February 7, 2019 Former Greek finance minister Yanis Varoufakis blasted European Council president Donald Tusk today for the EU’s role in the Eurozone crisis. Varoufakis was responding on Twitter to Tusk’s tweet yesterday that said: “I've been wondering what that special place in hell looks like, for those who promoted #Brexit, without even a sketch of a plan [...]
Millennium Bug lessons: Stop Brexit stockpiling February 7, 2019 UK manufacturers are stockpiling raw materials at the highest rate since figures were first collected 27 years ago. While it might look like a sensible response to uncertainty, this kind of Brexit anxiety will have long-term implications for supply chains and for the UK economy as a whole, regardless of what happens in the negotiations. “Demand [...]
