Fairytale economics will not enchant markets November 14, 2018 In a remarkable break with the economic prudence of the past decade, policymakers in the west are taking their feet off the spending brakes. During the recent midterm elections in the US, President Trump hailed the continuing stream of positive economic data and Democrats’ warnings about the cost of tax cuts failed to cut through. Meanwhile the [...]
Inflation remains steady in October as CPI stays flat at 2.4 per cent November 14, 2018 Inflation remained steady in October, with the Consumer Price Index (CPI) flat month on month at 2.4 per cent, according to Office for National Statistics data out today. Rising fuel costs and domestic gas prices offset lower prices for food and non-alcoholic drinks, as well as clothing and transport, leading to CPI staying unchanged from its September [...]
Move over Facebook and Apple, the next generation of customers has other ideas November 14, 2018 A visit to Rochdale Sixth Form College was a cheering experience last week. This year, 55 per cent of A-levels were at grades A* to B. True, Eton and Winchester do better. But this track record shows that even poor boroughs – and Rochdale is one of the poorest – have the capacity to deliver high-quality [...]
Italy rejects EU calls to amend budget ahead of deadline November 13, 2018 Italy defied a European Commission deadline to submit a revised budget tonight, telling the EU it will not change its expansive fiscal plans. Ahead of a midnight deadline, the Italian government said it was sticking to its guns. In a statement released after a cabinet meeting, deputy prime minister Matteo Salvini said its deficit target [...]
Trust me, we’ve been thinking about market power and competition all wrong November 13, 2018 Economists, politicians, and commentators on both sides of the Atlantic are growing more concerned with the supposed “monopolisation” of the economy. In a 2017 report, the Social Market Foundation found that eight of 10 key British markets, including in phones, gas and groceries, were highly dominated by small numbers of companies. Its director, James Kirkup, [...]
Wage growth hits 10-year high as 132,000 EU workers quit the UK November 13, 2018 Wages grew at their fastest rate in a decade in the latest quarter as the employment rate also rose higher, according to data from the Office for National Statistics (ONS) released today. People’s salaries grew by 3.2 per cent excluding bonuses in the three months to the end of September compared to last year, marking the [...]
Is central bank independence even a thing? November 13, 2018 Parents often find it tough to let go of the control they have on their children’s lives, no matter how old they are. While children usually tend to wriggle out of these constraints, the constant jostling between two often opposing opinions is a worldwide phenomenon. And such is the relationship between the government and the [...]
UK debt to soar to financial crisis levels over next five years November 13, 2018 UK debt could rise to £6.7 trillion by 2023, from £5.1 trillion in 2017, according to new research. The UK’s debt as a percentage of gross domestic product (GDP) is predicted to rise to nearly 260 per cent of GDP, a level not seen since the financial crisis. The debt increase is expected to largely [...]
Euro falls ahead of crunch deadline over Italy’s budget plan November 12, 2018 The euro has fallen ahead of a crunch deadline for Italy to revise its rejected budget plan. Italy's finance minister Giovanni Tria is reportedly set to revise the budget's growth forecast to reach a compromise with the European Commission. But the currency has dropped 0.6 per cent against the dollar to $1.126, led by a [...]
The Conservatives must not be afraid to stand up for free markets November 12, 2018 Today’s younger voters were born after the Berlin Wall had fallen and the battle of ideas over economics and the role of the state had been won for a generation. Since then, the world has changed. The Labour party has fallen under the control of people who do not believe in markets, free enterprise, or business. [...]