Economist, Visiting Professor, Lecturer, Writer, Public Speaker.
In June this year, annual UK consumer price inflation on the central banks preferred measure (CPIH) hit 2.4%, marginally above the 2% target and the highest level since the pandemic started in 2019. It was a rate last seen in August 2018. For some commentators, it was a vindication of the view that the Bank …
Continue reading “UK monetary policy to remain on hold, for now”
It seems churlish to say that this was a Budget packed with detail but no overarching strategic vision or plan. It was, after all, billed as a Budget for a seminal moment in the UK. It was coming at the end of the first global pandemic since 1918, and it was the first one in …
Continue reading “Budget 2021: heavy on detail, light on strategy?”
UK government debt is running at £400 billion a year or 20% of GDP. Money supply growth is rising by nearly 14% per annum and the ratio of outstanding debt GDP – 85% of the economy just last year – is set to be around 108% of GDP in the 2020/2021 financial year. Surely that’s …
Continue reading “Why price inflation will remain low even with record debt”