Living standards· Economy and public finances Enlightened economics Lessons from Adam Smith on the economic challenges facing modern Britain Wednesday 13 September 2023 Adam Smith was a leading political economy thinker of the Scottish enlightenment in the mid-late 18th century. But as the “Father of Capitalism” his pioneering work on free market economics has influenced politicians, philosophers and economists throughout the 19th, 20th and 21st centuries too. But modern Britain – as well as other advanced economies – … Continued READ MORE
Budgets & fiscal events· Economy and public finances Into calmer waters? Assessing Budget 2023 Thursday 16 March 2023 The UK has gone through four Chancellors, three Prime Ministers and entered a cost-of-living crisis in 500 days since the last Budget way back in October 2021. On 15 March, Jeremy Hunt will unveil his first Budget, hoping to signpost the UK economy’s way towards a new, calmer, phase of lower inflation and higher growth. … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances Back to basics Budget? What Jeremy Hunt’s March Budget has in store Monday 6 March 2023 2022 marked a tough year, with soaring inflation sparking a cost-of-living crisis and repeated government announcements to tackle it. And that was before the Autumn economic policy chaos. The economics and politics are now calmer. Inflation – and most importantly gas prices – is falling, and the Chancellor hopes to deliver a more ‘normal’ Budget … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances A fiscal reset? Assessing the Autumn Statement 2022 Friday 18 November 2022 The new Prime Minister and Chancellor have set one central objective for the Autumn Statement – restore economic credibility. They have set the test for doing so as putting the public finances back on a sustainable path by ensuring that debt is falling as a share of the economy. The size of the fiscal reset … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances Under new management Where will the new Prime Minister steer the UK economy? Tuesday 1 November 2022 Britain is in the midst of a political and economic crisis, with four Chancellors and three Prime Ministers in four months. And with the latest political turmoil triggered by attempts to completely rewrite economic policy, the new Prime Minister is under intense pressure to demonstrate his economic credibility, calm the markets and reduce the pressure … Continued READ MORE
Living standards· Budgets & fiscal events· Fiscal policy· Economy and public finances· Economic growth What next? The impact of Trussonomics, tax cuts and market turmoil Thursday 29 September 2022 The last few days have seen a radical reshaping of the Government’s economic policy and a radical reaction from financial markets. Out have gone both Treasury orthodoxy and the legacy of the Johnson premiership, and in are lower taxes, higher borrowing – and higher borrowing costs as spooked markets respond. Will this new strategy boost … Continued READ MORE
Economy and public finances Chatting to Chancellors Book launch for The Chancellors by Howard Davies, featuring former Chancellor George Osborne Monday 30 May 2022 The nature of British economic policy, and the Treasury’s role in directing it, have ebbed and flowed over the past 25 years. Monetary policy was ceded to the Bank of England in 1997, but the Treasury then extended its grip over domestic policy. The last decade has seen it respond to two once-in-a-lifetime economic crises, … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances Waiting for spring Assessing the Chancellor’s Spring Statement Thursday 24 March 2022 Britain entered 2022 with a recovery resilient to Omicron and tax revenues coming in billions higher than expected. But good news on the public finances has been matched by troubling news for family finances as inflation soared and living standards have been squeezed. The conflict in Ukraine has further clouded the UK’s economic outlook, as … Continued READ MORE
Economy and public finances· Economic growth Bidenomics Lessons for the UK Tuesday 15 March 2022 Speech by Jared Bernstein, Member of the Council for Economic Advisors under President Biden, with response by Shadow Chancellor Rachel Reeves Joe Biden came into office with an ambitious economic plan for building back American prosperity after the pandemic – with policy objectives ranging from the renewal of infrastructure and greater childcare support, to more … Continued READ MORE
Living standards· Labour market· Economy and public finances Catch 2022 What does the end of a global pandemic and the start of a European conflict mean for Britain’s economic outlook? Monday 14 March 2022 The end of the Covid economic crisis is finally in sight. But it has swiftly been replaced by a terrifying conflict in Europe that threatens lives in Ukraine and livelihoods far beyond its borders. The UK’s immediate post-Covid economy thankfully doesn’t include the lengthy dole queues that normally follow a recession. But it instead faces … Continued READ MORE
Economy 2030· Public spending· Economy and public finances Pressure points Why the state is getting bigger and what we do about it Thursday 10 February 2022 The UK that exits the pandemic has a bigger state than the one that went into it. The 2020s will bring further pressure for the state to grow or our tax revenues to shrink, including from our ageing society and net zero ambitions. But previous approaches to responding to such pressure – from shrinking the … Continued READ MORE
Budgets & fiscal events· Living standards· Economy and public finances Budgeting for Britain What the Budget and Spending Review tell us about the Government’s economic strategy Thursday 28 October 2021 Rishi Sunak has had to make a flurry of major fiscal announcements during his 18-months as Chancellor amidst the Covid-19 crisis. At last, with the worse of the crisis behind us, he will hope to be able to set-out an economic plan for post-pandemic Britain in his Budget and Spending Review next Wednesday. However, with … Continued READ MORE
Social care· Public spending· Economy and public finances Nationally insured? Analysing the Government’s tax-raising plan to fund health and social care Wednesday 8 September 2021 Having promised a plan to reform social care and to not raise National Insurance in the 2019 General Election Manifesto, the Government has delivered on one promise, and broken the other, in spectacular fashion today. With over £30 billion worth of tax rises being announced in just six months, further funding for the NHS coming … Continued READ MORE
Public spending· Economy and public finances The Chancellor’s Autumn crunch Assessing the key economic decisions to come Monday 6 September 2021 Since his surprise promotion in March 2020, Rishi Sunak has spent his first 18 months as Chancellor in full Covid crisis mode. But as the worst of the crisis appears to be behind us, the Government has an Autumn crunch of tough decisions ahead of it – with a Spending Review and potential Budget to … Continued READ MORE
Covid-19· Monetary policy· Economy and public finances· Macroeconomic policy The economic outlook Speech by the Governor of the Bank of England Andrew Bailey Monday 8 March 2021 The Covid-19 pandemic has sparked a truly global economic crisis, affecting families, firms and institutions throughout the world. The UK has been hard hit – experiencing the biggest economic contraction in over three centuries – but the fast pace of its vaccine roll-out means that the economy is expected to recover rapidly this year. The … Continued READ MORE
Covid-19· Budgets & fiscal events· Economy and public finances On the recovery road Assessing the Budget and economic outlook Thursday 4 March 2021 Chancellor Sunak’s first year in office has been marked by a huge economic crisis, and unprecedented policy interventions to support workers and firms through the pandemic. With vaccines being swiftly rolled out, the year ahead should see the economy return to growth. But with rising unemployment and firms reluctant to invest, the road to recovery … Continued READ MORE
Covid-19· Monetary policy· Budgets & fiscal events· Economy and public finances Budgeting for Britain’s economic recovery Thursday 25 February 2021 The economic outlook for 2021 is highly uncertain. Having started with a renewed lockdown and likely shrinking economy, a stronger than expected vaccine roll-out offers hope for a recovery in the months ahead. The upcoming Budget on 3 March will be critical in terms of shaping the strength and nature of that recovery from this … Continued READ MORE
Covid-19· Labour market· Economy and public finances Coronanomics: Challenges facing policy and governance Tuesday 8 December 2020 Coping with the COVID-19 pandemic has been the toughest test for many governments in generations. From suppressing the virus and ensuring healthcare systems can cope, to dealing with the fallout in terms of support for businesses and households, governments are facing huge policy battles, and on multiple fronts. This has placed great pressure on our … Continued READ MORE
Covid-19· Economy and public finances· Macroeconomic policy Coronanomics The economic challenges of COVID-19 Monday 30 November 2020 The COVID-19 pandemic has upended economies across the world. The daunting scale, pace and uncertainty of the crisis has presented huge challenges for economics, and for economic policymakers attempting to steer countries through it while limiting the damage to citizens’ lives and livelihoods. And even if a vaccine is found soon, the legacy of the … Continued READ MORE
Covid-19· Budgets & fiscal events· Economy and public finances Cash for Covid Assessing the Spending Review and economic outlook Thursday 26 November 2020 With economic uncertainty running high, the Chancellor has cancelled his Budget and scaled down his upcoming Spending Review. But he still faces big decisions about how much of this year’s exceptional spending will continue into next year to support the economy and tackle the virus. Add in fresh forecasts from the Office for Budget Responsibility … Continued READ MORE
Covid-19· Living standards· Budgets & fiscal events· Economy and public finances The real deal A recovery plan for Britain’s economy Tuesday 7 July 2020 Following a quickfire presentation of a major new RF report on how to support the recovery, we will be hearing the views of Shadow Business Secretary Ed Miliband and former Conservative Cabinet Minister Amber Rudd on the critical question of the recovery. READ MORE
Covid-19· Living standards· Economy and public finances· Economic growth Building a nation to belong to Preparing for a new post-pandemic economy Thursday 11 June 2020 Live interactive webinar to launch new book ‘The economics of belonging’ by Martin Sandbu. Register to receive access link. In just over a decade, the UK has been hit by two major global recessions with, for too many, little recovery in between. This has exposed long building political, economic and cultural divides – divides that … Continued READ MORE
Covid-19· Economy and public finances· Macroeconomic policy An economic battleplan Assessing the design and delivery of Britain’s COVID-19 response Thursday 30 April 2020 Faced with an unprecedented economic crisis, the Government and the Bank of England have announced an unprecedented package of support measures – from business loans and more generous benefits, to paying the wages of a huge proportion of the private sector workforce. This bold action is costly but necessary – and more will be required … Continued READ MORE
Covid-19· Public spending· Fiscal policy· Economy and public finances The corona crisis The economic impact of COVID-19 Thursday 16 April 2020 The coronavirus public health crisis has quickly turned into an economic crisis. The necessary social distancing measures have closed down huge swathes of the UK economy, while the Government has committed hundreds of billions of pounds to supporting firms and workers through the downturn. Amid huge uncertainty about the scale and duration of the crisis, it is crucial that … Continued READ MORE
Monetary policy· Public spending· Economy and public finances· Economic growth· Macroeconomic policy The Economic Outlook for 2020 and beyond Speech by MPC member Jonathan Haskel Friday 20 December 2019 Friday 20 December, 11am-12pm, Resolution Foundation offices, Westminster The UK is about enter a new year, and a new decade, amid widespread economic uncertainty at home and abroad. Understanding the unique pressures facing the UK, and how our economy is influenced by wider economic trends, will be cruciall for policy makers as we enter a … Continued READ MORE
