Britain must boost investment in skills beyond apprenticeship levy to compete with Europe after Brexit, according to report February 18, 2017 The UK must significantly increase its skills investment beyond plans for the apprenticeship levy if it is to compete with European rivals in the post-Brexit world economy, according to a new report. The government’s new apprenticeship levy will not bring employer investment in skills up to levels seen before the financial crisis, according to the [...]
German chancellor Angela Merkel says there is a problem with the weak euro February 18, 2017 German chancellor Angela Merkel has said there is a “problem” with the value of the euro, in an unusual comment at a time when the country has come under sustained criticism over the currency. At a security conference in Munich Merkel said: "We have at the moment in the Eurozone of course a problem with [...]
Retail sales fall during January as economists expect inflation to drag further on spending February 17, 2017 Retail sales grew at the slowest pace in more than three years, with economists pointing to inflationary pressure starting to weigh on consumer spending. Sales fell by 0.3 per cent month-on-month during January, with 1.5 per cent annual growth the slowest since November 2013, according to the Office for National Statistics. Sales also declined quarter-on-quarter, [...]
A victory for Marine Le Pen in France could spell the end of the European Union February 17, 2017 As the Brexit Bill’s passage through Parliament in the coming weeks appears a foregone conclusion, the UK’s timeline for invoking Article 50 has become clearer – but what remains unclear is the extent to which Brexit is mobilising voters in other EU member states. Indeed, from an economic standpoint, the UK’s inconsequential post-referendum performance poses a [...]
ECB’s Benoit Coeure calls for removal of non-tariff barriers for trade with Europe February 16, 2017 The removal of non-tariff barriers to trade could give a big boost to trade, according to an influential European central banker. Benoit Coeure, a member of the executive board of the European Central Bank (ECB), said “gains from trade are likely to be quite large” if countries can remove impediments to free trade. In a [...]
ECB continues to look through rising inflation as big risks loom on the horizon February 16, 2017 The European Central Bank (ECB) remains committed to “looking through” rises in headline inflation as Europe faces a balance of risks “tilted to the downside”, according to the minutes from its latest monetary policy meeting. Members of the rate-setting governing council “widely agreed” to maintain its ultra-loose monetary policy despite mounting pressure to scale back [...]
The UK’s construction industry started 2017 on a high February 16, 2017 The UK's construction industry started the year strongly as housebuilding dominated activity. The value of new building contracts rose to £6bn in January, according to analysts Barbour ABI, with London accounting for over a quarter of contract value. The capital was boosted by the One Nine Elms project in Vauxhall, the most valuable development in [...]
Record-breaking employment numbers threatened by government short-termism February 16, 2017 The Office for National Statistics published the latest labour market statistics yesterday, once again confirming that it has been a record-breaking year for employment. With 31.84m people in work, the unemployment rate at the lowest it has been for over a decade (4.8 per cent), and, with a record 70 per cent of women in work, there [...]
World stocks hit fresh record highs as investors around the world look for risk February 16, 2017 World stock markets have risen to fresh all-time record highs as investors around the globe anticipate economic growth after a sustained period of stagnating economies. The MSCI all-country world index added further to Wednesday’s record highs with small gains on Asian markets mimicking those in US markets, despite futures suggesting the rally may pause when [...]
Winning the battle for completely free trade post-Brexit will vastly increase UK prosperity February 16, 2017 Economists for Free Trade (of which I’m part) is launching today to make the case for the UK to run completely free trade once we leave the EU in 2019. Our aim is simple. We want Britain to lead the world on free trade. Our group has been formed to fight the battle which needs [...]