Rachel Reeves has had a busy start to her Chancellorship. Within the first 10 months, she has had a 40 billion Pound budget and watched in horror at the unprecedented upheaval of the last century of global trade. Trump’s uncertainty has ushered in a renewed vigour to look elsewhere for loyal partners and new, reliable investors. Or are they new? The Labour government was elected … Continue reading Trade with the EU: Booming Growth or a Fallacy?
Can Austerity 2.0 Bring Back Growth and Prosperity to the UK Economy? Introduction In October 2024, Chancellor Rachel Reeves announced a £40 billion tax increase, the largest since 1993, aiming to address the UK’s budget deficit and tackle the £22 billion ‘black hole’ from the Tories. Austerity refers to the policies aiming to reduce government deficits via spending cuts or tax hikes. Despite the Labour … Continue reading JKP Entry: Can Austerity 2.0 Bring Back Growth?
Concorde. It dominated the skies for over a quarter of a century, and was the first, and for now, only, commercial supersonic jet. But in late 2003, still a technological marvel, Concorde left the sky for one last time. Even today, Concorde is put alongside the Apollo missions as one of the most technologically advanced projects this world has ever seen. Yet, despite halving the … Continue reading The Economics of Concorde
Globally people are progressively shifting away from cash and adopting digital payments in their day to day life. In the last decade or so, the UK has seen a significant surge in mobile banking, contactless cards and fintech platforms such as Apple Pay and PayPal. However, the dependence on private businesses presents challenges of access as well as control. Central Bank Digital Currencies (CBDCs) are … Continue reading CBCDs and Digital Currency
People over Profits – the rise of Co-operative Economics in the UK Co-operative economics is a system of business rapidly emerging in the UK, guided by principles of shared ownership, democratic governance, and the equal distribution of profits. Unlike traditional shareholder-driven enterprises, co-operatives – otherwise known as mutuals – prioritise the welfare of their members and the communities they serve. The two main categories of … Continue reading Cooperative Economics
Why is the NHS in crisis, and can it be saved? For 75 years, the NHS has been a shining light for free at the point of service to use, universal healthcare. But, now, the National Health Service – a treasure of the United Kingdom – is in crisis. Waiting lists are up, A&E times are up, and its budget is ballooning. This has not … Continue reading The NHS in Crisis
In the aftermath of the 2008 global financial crisis, Greece was faced with crippling debt. Resulting in the implementation of austerity measures (policies which reduce government spending and shrink the budget deficit), slumping GDP and overall political instability. Despite the UK being one of the largest economies in the world its national debt (£2,686 billion) has been ever rising, especially after the pandemic and specific … Continue reading Britannia on the Brink: Is the UK Turning into Greece Lightning?
What strategies would be most effective for improving UK productivity? Introduction Enhancing productivity, defined as the ratio of output to input volume [1], is critical to unlocking higher UK economic growth. Productivity improvements account for half of the differences in GDP per capita across countries (Chart 1). Growth in labour, capital, and Total Factor [2] productivity would translate into higher standards of living and prosperity growth. As Krugman … Continue reading UK Productivity
During the 19th century, the UK stood as the preeminent global superpower. From the British Raj in India to the Dominion of Canada, its riches and power were unmatched. Since the height of the empire in 1922, when the UK governed 23% of the world population (458 million people with a domestic population of only 42 million) (Source: Statista), the UK has seen a gradual decline … Continue reading Cracks in the Crown: The decline of the UK Economy
The UK bond market is hitting the decks. Rising yields on gilts (UK Government bonds) are resulting in surging borrowing costs for the government; these developments are generating concerns about the country’s fiscal stability and reducing investor confidence. With the pound weakening against the US dollar and questions mounting over fiscal policy, the impact of the bond sell-off has widespread impact both on UK finances … Continue reading Bond Market Turmoil: Behind the UK’s Latest Gilt Sell-Off
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