From the TUC

Economics

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

Controversies around inflation measurement: Have annual real wages fallen by £2,100 or £1,200 or £800?

22 Mar 2017, by in Economics

Whatever way you look at it, this week’s inflation figures illustrate the threat to living standards that result from the fall in sterling after the referendum. Headline inflation in February rose to 2.3%. Last week’s average earnings data for January (regular pay) was 2.3%. Real earnings growth is therefore zero. If as is likely inflation…




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#Budget2017: Boost for technical skills funding

08 Mar 2017, by in Economics

As with much of the Budget, the package of skills measures contained few surprises as the various announcements had been trailed extensively beforehand. Nevertheless, there is much to welcome in the Budget on technical education and skills, in particular the commitment to step up funding for the rollout of the new qualification system (or “T…




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#Budget2017: Self-employment tax changes

08 Mar 2017, by in Economics

Increases in taxation of self-employment may raise more money for the exchequer but will do little to clamp down on bad employers who force staff into bogus self-employment to lower their tax bill Today’s standout Budget measure was the increase in the tax paid by the self-employed, with the rate of the Class 4 National…




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#Budget2017: Zero out of four

08 Mar 2017, by in Economics

Yesterday we set the Chancellor four tests for whether his Budget would deliver for working people. Today we have no good news to report. This wasn’t a budget for living standards, it didn’t give the British economy the investment it needs to see us through the uncertainty of Brexit, and public services remain under severe…




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Budget blogs: Looking to the longer term

16 Feb 2017, by in Economics

So far this week we’ve outlined the main challenges facing the Chancellor as he prepares his budget, and looked at the sharp rise in insecurity at work, and the hole it’s punching in the public finances. Today’s post looks at the longer term challenge of producing more good jobs and an economy that works for…




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