Many people will read whatever they like into today’s new data on the labour market without bothering to look past the headlines. And to be fair, those raising concerns about the recent trends in unemployment and in pay are right to do so. Nonetheless, the underlying picture is a little more nuanced. Here are four key points … Continue reading Four insights on the latest UK labour data (warning! contains nuance…)
The hard sell: Britain needs to step up to fund its own defence
The BBC is reporting today that the Prime Minister is considering a significant increase in defence spending or, more precisely, that Keir Starmer is looking at bringing forward increases that have already been promised. The Labour government has previously committed to raising core defence spending from a little under 2.5% of national income currently to the new … Continue reading The hard sell: Britain needs to step up to fund its own defence
Bank of England remains in the slow lane on rate cuts
The Bank of England’s decision to hold interest rates at 3.75% today was no great surprise, but the 5-4 vote was much closer than most had anticipated. Unfortunately, this dovish tilt owes more to rising concerns about growth and jobs than it does to increasing optimism about inflation, even though the two are of course related. In … Continue reading Bank of England remains in the slow lane on rate cuts
“The OBR: 15 years on”
I recently submitted some written evidence (or at least some opinions!) to the Treasury Select Committee’s new inquiry reflecting on the Office for Budget Responsibility’s (OBR) first 15 years. In case of wider interest, I have pasted the text below (in the format requested by the Committee). Written evidence to the Treasury Select Committee Submitted by … Continue reading “The OBR: 15 years on”
Plain-speaking Economics 