From the TUC

Economics (page 3)

Too early to call time on the consumer spending boom

22 Apr 2017, by in Economics

Retail sales have seen their worst decline since 2010. But rising consumer credit figures suggest we’re not at the end of the consumer spending boom just yet. Retail sales volumes declined by -1.4% in the first quarter of 2017, the worse quarterly decline since the first quarter of 2010  (itself the worst quarterly decline on…

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In the Budget Philip Hammond said rising real wages were ‘most important’ – what happened?

12 Apr 2017, by in Economics

8 March 2017, Philip Hammond’s Budget Speech: And most importantly, Mr Deputy Speaker, despite higher-than-target inflation, real wages continue to rise in every year of the forecast. [my emphasis] 12 April 2017, only five weeks later, statistics from ONS Labour Market statistics release show: on the single month measure, real wages in decline by -0.4%,…

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A note on the economic impact of Roosevelt’s New Deal

06 Apr 2017, by in Economics

This post is brief background to a longer piece that views Roosevelt’s economics through his impact on Washington D.C. The economic statistics show his initiatives brought the US great depression to a decisive end; they also stabilised the deterioration in the public sector finances. Yet the efforts can be dismissed as trivial. A former Chair…

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BEIS Committee of MPs says workers on boards should become “the norm”

05 Apr 2017, by in Economics

The BEIS Parliamentary Committee reports today on its corporate governance inquiry launched last autumn. There is much to welcome in its recommendations, which span workers on boards and remuneration committees, board diversity, executive pay, private companies, directors’ duties and enforcement. Here we set out the Committee’s main recommendations, and where we think they should go…

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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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