OECD slashes global growth forecasts and warns of no-deal Brexit recession March 6, 2019 Global growth predictions were slashed today as a major economic body warned that a no-deal Brexit would see Britain return to recession. The Organisation for Economic Cooperation and Development (OECD) cut predictions for the UK’s growth to 0.8 per cent in 2019 and 0.9 per cent in 2020. Read more: EU faces the biggest risks [...]
Eurozone construction sectors boosted in February by German and French recovery March 6, 2019 Construction firms in the Eurozone were boosted last month by an upturn in building activity following a slow start to the year. German firms led the way with a sharp rise in activity, while there was also a return to expansion in France, according to the widely-regarded IHS Markit purchasing managers’ index (PMI). Read more: [...]
Like the myth that the Earth is flat, the socialist conspiracy theory never dies March 6, 2019 The idea that the Earth is flat is a rapidly growing trend on social media. The Flat Earth Society’s Twitter feed has the best part of 100,000 followers. The fact that the planet is a sphere has been known since at least the time of the ancient Greeks. The astronomer Eratosthenes demonstrated it with a simple [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
UK services sector set for weakest quarter since 2012 amid Brexit uncertainty March 5, 2019 The UK services sector look set for its weakest quarter since 2012 as a subdued start to the year continued last month. Business activity expanded marginally in February but new work fell for a second consecutive month, according to the widely-regarded IHS Markit / CIPS purchasing managers’ index (PMI). Employment numbers also declined at the [...]
Pay politicians £500,000 each per year and maybe we’d get better quality MPs March 5, 2019 Few people are as hawkish on government spending as me. However, there is one area where taxpayers should be willing to spend much, much more: the salaries of our members of parliament. Last week, the Independent Parliamentary Standards Authority announced that MPs’ basic pay was to increase by 2.7 per cent to £79,468 from 1 April. [...]
DEBATE: MPs are about to get a pay rise – but do they deserve it? March 4, 2019 MPs are about to get a pay rise – but do they deserve it? John Oxley, a Conservative commentator, says YES. MPs will soon earn £79,468. It’s far more than most people, but still not enough to lure the most talented individuals into our legislature. An ambitious and highly capable graduate in the City or [...]
UK private sector growth stagnates as businesses prepare for Brexit March 3, 2019 Growth in the UK’s private sector stagnated in the quarter to February and activity could be set to fall in the coming months. A Confederation of British Industry (CBI) survey revealed the balance of distribution, manufacturing and services firms reporting growth had fallen to -3 per cent – its weakest since April 2013. Read more: [...]
The magic of finance can help make the world a better place March 1, 2019 When Hollywood created a sequel to the original Mary Poppins film, the producers introduced a new character: a villainous banker who could give everybody a good scare. But why exactly is the banker the villain? After all, a healthy economy requires a healthy financial sector that is at the service of people as they pursue [...]
Goldman Sachs cuts no-deal Brexit risk to just 10 per cent and hikes chance of delay February 28, 2019 The chances of a no-deal Brexit have fallen to just 10 per cent following a cabinet revolt this week, according to analysts at Goldman Sachs. The US investment bank’s analysts said Theresa May had created a “clear route” for parliament to rule out a no-deal Brexit after promising MPs a vote on the matter if [...]