The coronavirus job retention scheme is the biggest step the Chancellor has taken so far, both in terms of its nature (subsidising the wages of millions of private sector worker) and cost (potentially many tens of billions of pounds). This raises three questions. Is this degree of state intervention justified? What more is needed? And … Continue reading ‘Intervention is essential, but does not signal a socialist state’
UK economy makes a handbrake turn
How hard will coronavirus hit UK GDP? This may seem like the wrong question to ask in the midst of a health emergency. The new coronavirus outbreak is a social crisis above all else. Even in narrow economic terms, some sort of hit to GDP is inevitable and even desirable: we actually want many people … Continue reading UK economy makes a handbrake turn
Has Brexit Britain turned the corner?
Ever since the 2016 referendum, Brexit pessimists have been highlighting the damage that they think has already been done to UK GDP by the vote to leave. This narrative is looking increasingly tired. Indeed, last year the UK economy actually grew faster than its peers in the rest of the EU. Now that Brexit is … Continue reading Has Brexit Britain turned the corner?
Why zero-hours contracts are a good thing
The news that the number of people working on zero-hours contracts has risen to a new record high has prompted fresh calls for a ban. If you're employed on one of these contracts and like it, tough. How on earth did we come to this? To recap, a 'zero-hours contract' is simply a form of … Continue reading Why zero-hours contracts are a good thing
Plain-speaking Economics 