The run up to the Coronation of King Charles III has prompted two questions. First, is it appropriate to spend public money on a royal event in the midst of a cost of living crisis? Second, what will be the overall impact of the long weekend on the UK economy? The first question at least … Continue reading Two questions and some answers on the economics of the Coronation
Category: Everyday Economics
What a Pill
The Bank of England’s Chief Economist, Huw Pill, has caused another public relations disaster by criticising workers for demanding higher pay - and firms for passing on higher costs. Instead, he told a podcast from Columbia Law School, “someone needs to accept that they’re worse off”. Let’s begin with a recap of what Pill was … Continue reading What a Pill
How valuable is ‘public sector net worth’?
Public finance geeks have been even more excited than usual about the latest statistical bulletin from the Office for National Statistics (ONS), which includes new data on a balance sheet aggregate known as ‘public sector net worth’. What is this, and why does it matter? Public sector net worth, or PSNW, is a relatively comprehensive … Continue reading How valuable is ‘public sector net worth’?
End of free money brings the chickens home to roost
The shocks that occasionally batter the UK economy seem to be coming thicker and faster. The Global Financial Crisis (GFC) blew up in 2008. The Brexit vote followed eight year later. But we then only had to wait four years for Covid, and just two more for the cost-of-living crisis. At this rate we are … Continue reading End of free money brings the chickens home to roost
Plain-speaking Economics 