First, the good news (and the news is mainly good today). The unexpectedly large 0.6% bounce in GDP in the first quarter of the year means that the UK economy has officially exited ‘recession’, after declines of 0.1% in Q3 and 0.3% in Q4 2023. This has already led to some more positive headlines, which … Continue reading UK economy ‘turns the corner’
Tag: GDP
We need more serious conversations about both tax and spending
The run-up to the March Budget has seen the usual flurry of rumours about how much room Jeremy Hunt has for tax cuts and what he might do with it. This time, however, there is also a growing consensus that the current fiscal framework is not fit for purpose – and that we need to … Continue reading We need more serious conversations about both tax and spending
What’s gone wrong in Germany?
The German economy is stagnating. Last year was bad enough. The first official estimates suggest that output (measured by GDP) shrank by 0.3 per cent over 2023 as a whole – a full year recession – with output also down by 0.3 per cent in the fourth quarter alone. Unfortunately, the omens for 2024 are … Continue reading What’s gone wrong in Germany?
A manifesto for growth
One positive legacy from the brief premiership of Liz Truss is that politicians are finally talking about the importance of economic growth. Unfortunately, there is little agreement on how to turn this talk into action. My manifesto would be based on four priorities: rebooting productivity; removing blockages that add to the cost of living; improving … Continue reading A manifesto for growth
Plain-speaking Economics 