US Fed Rate is Expected to Rise this Week - The UK Should Shortly Follow Suit
The Federal Reserve will make an eagerly awaited decision on US interest rates on Wednesday. It is expected that interest rates will rise, following strong employment and wage growth in November. 211,000 jobs were created and wages are growing at a healthy 2.3% on an annual basis, leading markets to ...
What is costing the NHS?
Since the founding of the NHS the UK has gone through a period of intense demographic change – the population today looks very different to the one the NHS was established for in 1948. It is well publicised that the service is now facing severe cost pressures. These pressures are ...No More Dithering on UK Airport Expansion – We need a Final Decision Next Week
A final decision on the desperately needed expansion of airport capacity in the South-East has been delayed until next week. It has been nearly five months since the Davies’ Commission recommended the construction of a third runway at Heathrow, and it is worth re-stating the economic case for expansion at ...
Ofsted and the exam boards: The unholy alliance that Michael Gove forgot
Ofsted’s Chief Inspector Sir Michael Wilshaw delivered his annual report this week. He rightly concluded that too many teachers are either leaving the profession or taking up posts in independent schools. He proposed that we need “golden handcuffs” to stop the drain.He is naïve if he thinks money is the ...The Government is Right to Bypass Lancashire County Council on Shale Exploration
Last week, it was announced that the Department for Communities and Local Government will intervene in a planning decision relating to two shale applications in Lancashire. Despite this appearing to go against the Government’s localism agenda, the background of this case highlights why the Government is taking a necessary step. ...The Government Must Stop Favouring the Old Over the Young
The Joseph Rowntree Foundation (JRF) has today published a report, which highlights a growing disparity in poverty rates among various age groups over the last decade. While the level of poverty has fallen by 30% among the over 65s, poverty numbers have increased in every other demographic.The failure of successive ...What's behind the housing crisis?
This article is taken from the CPS Economic Bulletin written by Daniel Mahoney and Tim Knox. To receive it by email before it is available online, sign up here. Successive Governments have presided over a fall in England’s housebuilding programme, which has resulted in a chronic shortage of housing. Housing completions over ...
Germany's deal with Russia
Energy secretary Amber Rudd yesterday announced that the UK would increase its consumption of gas, as coal-fired power stations are phased out in the next decade. But in recent weeks it has become clear that Germany and Russia are effectively conspiring to dodge the EU's energy rules and build two ...The UK Shouldn't Prioritise its Relationship with China Over India
The UK has now been visited by the Premiers of the two biggest emerging economies in the space of less than a month. Chinese premiere President Xi received a full state banquet, comparing favourably to the more ‘modest’ welcome of President Modi. This, perhaps, reflects the Government’s current attitude towards ...The Government’s Record on Employment is Exceptional - Don’t Wreck it With Punitive Marginal Tax Rates on the Low Paid
Today’s announcement from the Office for National Statistics that employment is at a record high and unemployment has dropped to a seven year low of 5.3% follows a great success story for the Government.It is worth remembering that the spectacular fall in unemployment over the past five years was not ...Britain must Review Unilateral Policies after Paris Climate Conference
The International Energy Agency will tomorrow publish its annual World Energy Outlook report for 2015. It will examine the global impact of falling oil prices, which have plunged from $115 a barrel in summer 2014 to less than $50 a barrel currently, along with a look at renewable energy technologies ...No time for complacency on UK economy
Since 2010, the UK economy is slowly becoming more resilient. GDP growth has remained strong, with the UK achieving the highest level in the G7 at 2.8% in 2014. Unemployment has continued on its downward trajectory, with the number of unemployment claimants falling by just over 17% in the last ...Time to Reform the Government's Apprenticeship Programme
A report published today by the Education and Business Select Committees has highlighted that skill shortages in science, technology, engineering and maths are hampering the UK’s productivity. The UK’s productivity is a major constraint on the UK economy, with the Office for National Statistics estimating that output per hour in ...UK ranked best place to start a business in Europe, but risks await for the UK economy
The Legatum Institute has today published its annual prosperity index, which indicates that the UK is the best country in Europe to start a business. This follows a dramatic growth in the number of businesses being created last year, setting a record of over 580,000 in 2014 when the UK’s ...
Tax Credit Reform Should Focus On One Issue: The Marginal Rate
This article is taken from the CPS Economic Bulletin written by James Pilditch, Rupert Darwall and Tim Knox. To receive it by email before it is available online, sign up here. Widespread concern over the financial impact of the Government’s planned tax credit changes on Britain’s poorest workers is understandable. Although the ...