By: Paul Ormerod

Paul Ormerod is an economist at Volterra Partners LLP, author and an Honorary Professor at the Alliance Business School at the University of Manchester

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To find out who’s to blame for economic uncertainty, reeves should look in the mirror

July 2, 2025

Household spending is down £50bn since last year. It’s hardly surprising there’s so much uncertainty in the economy given the relentless negativity of the Chancellor herself, says Paul Ormerod Households in Britain are still saving large chunks of their incomes. The Office for National Statistics (ONS) confirmed this week that the percentage of income saved [...]
Is Labour changing its mind about the OBR?

June 27, 2025

Labour is becoming increasingly disillusioned with the OBR as the reality sets in that no anount of forecasting can solve Britain’s spending problems, says Paul Ormerod How fashions change! Less than a year ago, Labour politicians were falling over themselves to praise the Office for Budget Responsibility (OBR). Labour was elected on a promise of [...]
How much should you pay to see Billie Eilish? Don’t ask St Thomas Aquinas

June 21, 2025

Thomas Aquinas argued for the concept of a “just price”, but when it comes to concert tickets the correct price is the one determined by the market, says Paul Ormerod Summer is in full swing, and with it the usual round of festivals and music gigs. Alongside these, another tradition is emerging. Namely, extensive whingeing [...]
Farage has a point, the UK should stop subsidising Scotland

June 11, 2025

It may have lost him the byelection, but Nigel Farage has a point about Scottish spending, writes Paul Ormerod.
From rare bees to miners’ pensions, money is now no object in parliament

May 28, 2025

Miners' pensions, indigenous rights, the shrill carder bee - parliament and the public have lost touch with the reality of public spending.
Protecting against cyber attacks means tackling rational inattention

May 20, 2025

Cybersecurity, highlighted by recent attacks on the Co-op and Marks & Spencer, is not just a technical challenge but also a human and economic one, says Paul Ormerod Cyber security has featured prominently in the media, following the attacks on the Co-op and Marks and Spencer. The Co-op has recovered rather the better of the [...]
What Rachel Reeves can learn from Geoffrey Howe

May 14, 2025

In 1981, Geoffrey Howe defied Keynesian orthodoxy by tightening fiscal policy during a recession – and completely changed the narrative about the British economy. Reeves must do the same, but all she offers is doom and gloom, says Paul Ormerod The UK economy is either already in or very close to a recession. Despite Rachel [...]
UK universities should focus on excellence, not DEI

May 7, 2025

The UK university sector won’t solve it’s financial problems by prioritising diversity goals over research quality, says Paul Ormerod The university sector in the UK often seems to live in a dream world. Research England, for example, is proposing to order them to “robustly” promote diversity and inclusion in order to qualify for access to [...]
Is choosing not to work a rational response to economic conditions?

May 2, 2025

Economic theory teaches that people will make the optimal allocation of their time between work and leisure, and if they can’t earn why bother to work? That’s a choice neither individuals, nor the country can afford, says Paul Ormerod The rise in worklessness is acknowledged across the political spectrum to be a serious problem. It [...]
If the ONS can’t measure productivity, how are we meant to improve it?

April 23, 2025

The ONS's shortcomings are far from trivial, its bad maths is holding back the UK economy, writes Paul Ormerod.

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By: Paul Ormerod

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