From the TUC

Duncan Weldon's Articles

This doesn’t feel like a recovery

18 Oct 2011, by in Economics

RPI inflation is at its highest since June 1991 and the level of unemployment is at its highest since October 1994. These are shocking statistics. Sometimes it’s hard to remember we are nearly two years into the ‘recovery’ from recession.  For many people the current situation feels an awful lot worse than even the darkest…

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The historically weak recovery is getting weaker

17 Oct 2011, by in Economics

The Item Club has downgraded it’s growth forecasts for the UK once again – from a forecast of 1.4% for 2011 (made only three months ago) down to just 0.9%, implying growth of only 0.4% in the third and fourth quarters. It is also downgrading its 2012 forecast from a reasonable 2.2% to a more pedestrian…

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The IMF on what caused the UK’s debt

07 Oct 2011, by in Economics

Earlier this week the IMF released its Regional Economic Outlook for Europe. The press picked up on the fact that it was reiterating its call for some countries (including specifically the UK and Germany) to slow the pace of cuts if growth falters. They made the same call in the most recent World Economic Outlook…

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QE: Welcome with Reservations

06 Oct 2011, by in Economics

The Bank of England’s decision to recommence with quantitative easing (QE) should be welcomed with reservations. Another £75bn will be added to the stock of the Bank’s purchases. It’s a good sign that some policy makers are taking the rapid economic slowndown seriously. As the Bank notes in its statement this slowdown can’t be blamed…

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Cameron’s very strange call

05 Oct 2011, by in Politics

According to the advance briefings Cameron’s conference speech today will feature a call for households to ‘pay off their credit cards’. This seems an odd call to be making at a time when we now know that the economy hasn’t grown for 3 quarters and  household consumption has fallen for four consecutive quarters. Indeed Q2…

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