From the TUC

Economics (page 2)

GDP figures: unsurprising underperformance

27 Apr 2016, by in Economics

GDP Headlines: With statistics released today showing that GDP increased by a paltry 0.4 per cent in the first quarter of 2016, evidence suggests that a strong and secure economy is still a long way off. This fall from the 0.6 per cent growth in the fourth quarter of 2015 was not unexpected. The average…

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IMF & World Bank should change course on growth & austerity

10 Apr 2016, by in Economics

The global trade union movement is pressing the ‘international financial institutions’ (IFIs) to switch track, abandoning support for austerity, and replacing it with a global recovery strategy consisting of public investment stimulus and coordinated wage increase; investments in energy-efficient infrastructure, education and other quality public services; and comprehensive labour safeguards based on strict compliance with…

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The public need to understand how the productivity fallacy supports spending cuts

07 Apr 2016, by in Economics

It is difficult for the public to appreciate how fundamental a specific interpretation of ‘productivity’ is to supporting the government’s fiscal policy. It is even more difficult to comprehend that this interpretation is primarily a policy-based or ideological judgement, based on the thinnest scientific assessment.  This difficulty is exacerbated by most economists seemingly being unable…

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ONS data confirms rents in London are a high-rise nightmare

06 Apr 2016, by in Economics

The latest monthly ONS economic review includes a focus on housing tenure. There are a number of takeaways from this latest release but the prospects for those in rented accommodation appear gloomy, and Londoners, especially younger Londoners are bearing the brunt. The level of price increase in London outstrips anything seen in the rest of…

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Debt remains a bigger burden for the lowest paid

04 Apr 2016, by in Economics

On Monday, the ONS released the latest instalment of their data on household debt inequalities between July 2012 and June 2014. The data indicates that the absolute and relative burden still falls disproportionately heavily on the lowest paid.  For instance: “Twice as many individuals living in households in the lowest total wealth quintile were in…

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