he UK’s latest labour market data, released this morning, have predictably led to fresh calls for even more state intervention to ‘create’ jobs, or at least ‘protect’ them. But the most important thing the government can do now is to continue to lift the lockdown. Let’s deal briefly first with the headline unemployment rate, which … Continue reading UK unemployment – how bad will it get?
Many people are increasingly worried about the slow pace of school reopening in the UK. The focus has mainly been on the harms done to the welfare of children and their families - well expressed here by the Royal College of Paediatrics and Child Health (RCPCH). But there are also rising concerns about the wider … Continue reading School closures carry a heavy economic price
On Wednesday the OECD’s latest Economic Outlook presented a relatively downbeat assessment of the impact of the coronavirus pandemic on the global economy (more ‘U’ than ‘V’). The report also flagged up some specific concerns about the vulnerability of the UK, which prompted some particularly gloomy headlines here. But is the OECD on to anything … Continue reading A deeper dive into the OECD’s forecasts
Rishi Sunak is having a relatively good crisis. The Chancellor and his team certainly deserve plenty of credit for the way the Treasury has shielded the large majority of businesses and jobs during an unprecedented slump in economic activity. But this task has been made easier by the broad consensus on the appropriate policies and … Continue reading Now is the time for the Government to make the bold decision to do less