Economist, Visiting Professor, Lecturer, Writer, Public Speaker.
Even with one of the largest parliamentary majorities in its history and the Conservatives with their lowest-ever vote share, the incoming Labour administration faces a daunting task: improving UK economic growth. It knows that was why it was elected; after all, growing the economy through increased productivity was the focus of its election campaign. It …
Continue reading “An historic election win but big challenges loom”
One of the oddities about the narrative on the direction of interest rates is the argument that, because consumer price inflation is still above the 2% target, the Bank of England cannot cut interest rates. That suggests that interest rate policy changes immediately impact the current inflation rate in the short term. However, this view …
Last year was turbulent for the world economy, and this one may be no different. The Russian invasion of Ukraine in 2022 had its full effect in 2023, reducing real incomes by pushing inflation up, particularly for food and energy. In addition, interest rate increases, put in place to fight the sharp rise in inflation, …
Continue reading “Another turbulent year looms – but so do opportunities”