Improved fiscal outlook for the chancellor as he prepares the Spring Budget February 20, 2017 The Office for Budget Responsibility (OBR) is expected to provide some “fiscal cheer” for the chancellor, with a forecast showing greater growth for the economy and lower borrowing costs. According to the Ernst & Young ITEM Club, forecasted GDP figures for 2017 are expected to be revised upwards, from 1.4 per cent to 1.6 or 1.7 [...]
Britons spend £19,000 every year on bills February 17, 2017 British families spend almost three-quarters of an average wage on bills and accommodation, according to a new study. The average family in the UK spends £19,142.37 on the basics for a fully functioning home, including mortgages or rent, insurance, gas, and electricity, according to a study by Powershop UK. Utility bills on average comprised £520 [...]
“Rise up”: The full text of Tony Blair’s Open Britain speech on Brexit February 17, 2017 Tony Blair has been absent from British politics for years, now – but today he returned in spectacular style, urging the UK's population to "rise up" against Brexit. Although some (including former deputy PM Nick Clegg) liked it, the majority of reaction has been that he missed the mark. Not sure what you think? Here's [...]
Inflation will push living costs 10 per cent higher than pre-crisis peak February 15, 2017 Inflation could push the cost of living 10 per cent higher than before the financial crisis by 2020, with 11m families below a poverty benchmark, according to a new report. Almost a third of the UK’s population falls below the minimum income standard measure used in the report by academics at Loughborough University and the [...]
Real wage growth lowest since 2014 as inflation starts to bite February 15, 2017 Wage growth for British workers has slowed as inflation pushed down real earnings to their slowest increase since December 2014. Average weekly earnings grew by 2.6 per cent in the year to December before inflation is taken into account, according to the Office for National Statistics. However, when the increasing cost of living is added [...]
OAP (Old And Partying): UK pensioners have higher average incomes than their working age children, and spend more on having fun February 15, 2017 For the silver generation, this truly is a golden age. Two reports released in the last week indicate that pensioners have never had it better. The first, Tilney’s “The Cost of Tomorrow”, debunks the myth that supposedly frivolous twenty-somethings spend more on having fun than retirees, either in absolute terms or as a percentage of their [...]
For successful businesses, failure is not an option – it’s a requirement February 14, 2017 Urgent memo to executives everywhere: please stop saying things like “failure is not an option”. You’re engaging stakeholders – not saving Private Ryan. And if you are fostering a fear of failure among your people, you probably aren’t winning either. Let’s look at winning in today’s world, where it is increasingly crucial to spark emotional [...]
Want a more equal society? Be careful what you wish for February 14, 2017 Consider this thought experiment. You have been transported back to 1912 and have the power to change the course of history. You foresee a century ravaged by the effects of two catastrophic World Wars, with a resulting 100m casualties. You also know the effects of violent communist revolution and rule, with a death toll almost [...]
Older people must shoulder their share of government spending cuts February 14, 2017 Given general improvements in technology and prosperity, younger generations should, in theory, always be better off than their parents. But with pensioner households now earning more than their working age equivalents, according to a new report from the Resolution Foundation, this can no longer be taken for granted. It is of course good news that older [...]
An open and immigrant-friendly UK can stay in the top 10 as the world economy doubles in size by 2050 says a new report February 7, 2017 The world economy is set to double in size by 2050, with the UK hanging on to a spot in the top 10 if it can forge successful new trading links and an open attitude to immigration after Brexit, according to a new report. The UK will fall one place in terms of purchasing power [...]