The energy regulator Ofgem is about to announce what is likely to be a very large increase in the cap on domestic gas and electricity bills, to take effect from April, prompting a scramble for ways to limit the damage. The Times is reporting that officials are finalising plans to limit the damage for a … Continue reading New energy rebates would mean ‘pay less now, but more later’
Category: Applied economics
Is inflation really a lot higher for poorer people?
The Office for National Statistics will shortly be publishing new figures on inflation rates for different types of household. They will also be updating the method for collecting individual prices from supermarkets. However, anyone hoping for evidence that inflation is much higher for low-income households is likely to be disappointed. In particular, the anti-poverty campaigner … Continue reading Is inflation really a lot higher for poorer people?
Time to ditch the National Insurance hike
The case for scrapping the increase in National Insurance contributions (NICs) planned for April is now so overwhelming that is hard to find good arguments in favour of keeping it. I’ve seen a few, but they are easy to knock down. Nick Macpherson, formerly the top civil servant at the Treasury, has tweeted that ‘National … Continue reading Time to ditch the National Insurance hike
Consensus is too pessimistic on the UK economy (again)
I’ve just updated my UK GDP forecasts with today’s data for November. Here are ten key points, including some international comparisons. 1. UK economic growth in 2021 is likely to be just shy of 7½%, 1% higher than assumed in the October Budget and 3% higher than the consensus in the Treasury survey at the … Continue reading Consensus is too pessimistic on the UK economy (again)
Plain-speaking Economics 