The British economy is beset by poor productivity - and it is about to start putting a real squeeze on growth. Its effects have been cushioned by high employment, but with few workers left to add to the Labour market, the only way to boost GDP is to improve productivity. With his deficit target under threat from productivity downgrades, the Budget represents the Chancellor's best chance to tackle the problem.Read More
Lord Saatchi, originator of proposals for a £10,000 income tax threshold, puts forward a new Policy, designed to have similar impact to 'Right to Buy'.
In 2013, the UK’s total energy production fell by 6.5% from 2012 mainly due to falls in the production of oil, coal and natural gas.
Whilst this week’s labour market figures contained good news for employment, there are clear signs that the data to be released on the 11th June could be disappointing.
The backgrounds of 1,000 self-made men and women who have earned at least $1 billion dollars are examined by Tino and Nima Sanandaji.
Retirement saving incentives are an ineffective, and inequitable, use of Treasury funds. They have failed to catalyse a broad-based savings culture.
Permanently weaker productivity is not inevitable – the Government can still take more action to boost productivity through reforms alongside refreshed competition and infrastructure policies.
The West should target a crucial vulnerability of Russia: its general economic weakness and its heavy dependency on oil revenue, writes Neil Barnett
Norma Desmond’s retort in Sunset Boulevard (“You used to be in silent pictures. You used to be big”. Norma Desmond: “I am big. It's the pictures that got small”) might also apply to recent budgets..
The widely held assumption that high government expenditure can have a positive impact on GDP growth is challenged by Brian Sturgess.
Unless tougher action is taken, the overall cost of regulation to British businesses at the end of this Parliament will be higher than at the beginning.
Without improvements to productivity, economic growth will slow also. Stronger productivity is the key to higher living standards because wages will not rise in the long term without any underlying improvements in the production process.
In order to return to more robust UK productivity growth, we need a series of supply side reforms to boost competition, encourage investment and reskill our workforce.
The economy would be between 17% and 21% larger without the impact of the recession. The Bank of England’s Monetary Policy Committee should take 5 steps to start the process of normalisation.
Both global warming and air pollution can be mitigated by the responsible development and utilisation of shale gas.