From the TUC

Economics

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

A missed opportunity – the government’s corporate governance proposals

31 Aug 2017, by in Economics

I have a blog in The New Statesman, entitled Workers on boards was an enlightened idea – Theresa May should have stuck to it. It sets out the TUC’s comments on the government’s corporate governance proposals, after our initial response described the proposals as feeble. And in the Guardian, TUC General Secretary Frances O’Grady and the Adam Smith Institute’s Sam…

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What’s going on in the economy? Five key charts for September

30 Aug 2017, by in Economics

It’s been a challenging summer for the UK economy with growth slowing, demand declining, business investment stalling and the UK’s balance of trade deteriorating. In happier news employment levels are at a record high, although real wages have continued to decline. So what’s going on in the economy? GDP growth The chart below represents the…

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‘Economists for free trade’ contradicted by today’s GDP data

24 Aug 2017, by in Economics

In a provocative piece this week (‘From Project Fear to Project Prosperity’), Professor Patrick Minford made a number of claims about the post-referendum economy. Apparently “the devaluation brought on by Brexit is acting as a powerful stimulus to the economy …”. Here’s how: … switching demand away from consumers to net exports and business investment,…

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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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