Brexit means… different things to different people

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Shared Growth

Shortly after the UK voted to leave the European Union the Resolution Foundation published analysis that explored the factors underpinning variation in the vote by place. Looking across 378 of Britain’s 380 local authorities we found that the share of Leave votes in an area was connected to measures of living standards (areas with lower … Continued

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What might lower migration mean for workers, employers and government policy?

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Work & Security

Immigration was one of the most important issues in the recent EU referendum, with some polls even putting it as people’s biggest concern. There has been much debate about whether widespread migration has squeezed the pay of British workers. This often gets pulled towards two extremes; some argue that migration has no effect on people’s … Continued

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The Bank will bring out its sledgehammer this week – but it needs to explain which nut it’s trying to crack

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Fiscal Choices

On Thursday the Bank of England’s Monetary Policy Committee is going to act for the first time since July 2012. Expect general excitement as one part of the British state gets round to doing something big in the wake of the Brexit vote. But this excitement should be matched by realism about what the Bank … Continued

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Five charts that tell the story so far of the post-referendum economy

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Fiscal Choices

Perhaps the only certainty in relation to the UK at the moment is that things look very uncertain. Longer-term, much will depend on just what Brexit ends up meaning. Shorter-term, most economists expect some form of demand-led slowdown – with general business and consumer uncertainty pulling back on investment and spending and sharp falls in … Continued

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Could a Brexit-induced house price fall benefit those who are struggling with housing costs?

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Housing

In a world full of gloomy post-referendum prognostics is there anything for low to middle income households to be cheerful about? In recent research we have shown that rising housing costs have dragged down living standards over the last two decades. Could a Brexit-induced drop in house prices be the silver lining for these hard-pressed … Continued

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Responsibility for avoiding a post-Brexit downturn rests as much with our politicians as our economists

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Fiscal Choices

Despite boasting an impressive track record for inaction in recent years, the Monetary Policy Committee’s decision to leave rates on hold last week still surprised many. Expectations had built following Mark Carney’s statement on 30 June that post-Brexit “deterioration” in the economic outlook meant that “some monetary policy easing [would] be required over the Summer”. … Continued

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