Category: United Kingdom

British Economy Slows Amid Chinese and Global Downturn


With the exception of such sectors as agriculture and services, the overall economy contracted, partly stemming from sluggishness in the world economy, according to the New York Times.

The economy grew 0.5 percent in the third quarter, a slowdown when compared to 0.7 percent seen from the previous quarter. Economists expected at least 0.6-percent growth. The drop in growth may cause Britain’s central bank to think twice about raising interest rates in the near future.

How Will Proposed Tax Credit Cuts Help Britain’s Hardest Workers?


The House of Lords has voted to delay the government’s plans to cut tax credits. The cuts form a significant component (more than a third) of the Conservative government’s plans to reduce the UK’s welfare bill by £12 billion. However, George Osborne failed to sufficiently make the case to the upper house that they were part of a wider plan to create an economy that rewards “hard-working people.”

Britain’s “In” Campaign May Want to Try Some of These


There is still no date for the UK’s EU referendum and the deadline of 2017 may seem a long way off, but the “In” campaign is starting late and on the back foot for several reasons. Most Britons are naturally Eurosceptic and many are seriously ill informed about the benefits of EU membership. The subject is, in reality, too big, too complex, and too far-reaching for most to comprehend.

A ‘Brexit’ Would Not Be on the Bank of England’s To Do List


The Bank of England has entered the EU referendum debate. Its report, along with comments from Governor Mark Carney, emphasise the benefits that membership of the EU brings the UK. Carney says membership makes the UK more dynamic, giving it greater potential for growth, and more resilient to shocks. However, he also warned of the need to safeguard the UK against further Eurozone integration.

Inequality Stretches Across England


With its long history of feudal oppression, industrial workhouses, and dire slums, England is no stranger to deprivation. Even today, we are all too familiar with phenomena like “beds in sheds,” soaring food bank use and fuel poverty. Therefore, it is hardly surprising that, whenever there is a release of a new deprivation dataset, we tend to focus our attention on the “most deprived” places across England.

Britain’s Economy Continues to Struggle


According to Reuters, Britain’s economy suffers from an unstable world market and lower consumer spending. Manufacturing capacity decreased as well, especially in major sectors of the economy. In light of the grim news, economists do not expect the Bank of England to raise interest rates in the short-term.

UK Wages Rise, Euro Inflation Slows


British workers are making more money as costs are growing at a lower rate in the Eurozone.

In the UK, earnings both including and excluding bonuses rose by 2.9% in the three months to July, above analysts’ expectations and at the fastest growth rate since 2009. According to the Office for National Statistics, workers are able to make more money in the UK.

Gauging the Need for U.K. Trade Union Rule Changes


The Conservative government is introducing a bill that will restrict the right of trade unions to organise and take industrial action in the UK. It has been criticised by union leaders and politicians across the political spectrum. Here is why.

The proposals are a response to a number of public sector strikes in recent years, particularly where workers taking industrial action affect third parties (who have no association with the dispute). This, for example, could include the travelling public in the case of rail strikes, or parents when teachers walk out of schools.

Left-wing Candidate Corbyn is likely Labour Leader


The veteran socialist backbencher has risen quickly from obscurity and he is almost certain to become the opposition leader this weekend. His passionate rhetoric has blown away his rival centre-left candidates.

The MPC’s Big Day at the BOE


The main event of the day is the start of a new era at the Bank of England.  Until now, at the conclusion of the MPC meeting, the decision would be announced, but no press conference was typically held.  A few weeks later the minutes would be released, and the vote revealed.  Starting today, the minutes will be released simultaneously with the decision.  Also today, at the same time, the Bank of England will release its inflation report, which contains it economic forecasts Less than an hour later Governor Carney will hold a press conference.