From the TUC

Economics

The TUC publishes regular expert analysis of the UK economy and our place in the world.

Demand needs to rise before rates do

03 Aug 2017, by in Economics

With the economy showing increased signs of weakness, it is welcome that that the Monetary Policy Committee (MPC) voted today to keep interest rates on hold. More surprising perhaps has been the recent positioning of MPC members that has fostered speculation that a rate rise was more likely. At one level this is understandable. With…




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Why multipliers matter

24 Jul 2017, by in Economics

“Nothing in economics is more potent than a simple idea whose time has come”, Gavyn Davies, October 21st 2012 The week before last, the Office for Budget Responsibility (OBR) published a new assessment of ‘fiscal risks’ to the UK. Reporting on threats to the public finances, they warned against new spending commitments: “… new unfunded…




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An economic and social audit of the ‘City’

19 Jul 2017, by in Economics

As its many champions constantly tell us, the City provides huge benefits to our economy in the form of contribution to GDP, tax take, balance of payments, employment and usage of financial services by UK households. This is undoubtedly true. But, the Financial Inclusion Centre’s new report for the TUC shows, set against that are…




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Can increased public spending pay for itself?

07 Jul 2017, by in Economics

Since the election, we’ve seen several proclamations of the ‘end of austerity’. As TUC post election poll (among others) has showed, there is now a clear majority in favour of ‘Maintaining decent public services even if that means my taxes go up’. This is a far cry from some of the rhetoric during the election…




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Bank warns consumer credit is a “pocket of risk that warrants vigilance”

28 Jun 2017, by in Economics

Tackling the symptoms of the consumer credit boom without addressing the causes risks exacerbating the living standards crisis. Consumer credit was prominent in the yesterday’s assessment of financial stability by the Bank of England. Up front a chart shows the accelerating growth in various measures of credit (red yellow green) against slowing growth in nominal…




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UK welfare benefits fall short of international standards

15 Jun 2017, by in Economics

Within hours of the General Election, the government was held to account on the international stage for the failings of the UK welfare system – with worker reps from Sweden, France, Australia, the International Transport Federation all calling on the UK government to bring UK provision into line with international minimum standards. The International Labour…




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