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George Osborne is destined to be remembered as the most inept Chancellor in British history

George Osborne is destined to be remembered as the most inept Chancellor in British history | UK Economy Macroeconomics | Scoop.it
It wasn’t a great week for the Coalition. First the Prime Minister made his much-awaited EU speech, which increased the levels of uncertainty for UK businesses just when they needed it least.
Geoff Riley's insight:

One of the most vocal critics of Mervyn King's tenure at the Bank of England takes a swipe the economic pigmies in the treasury. Real wages have been falling since the start of the recession, for millions of people the pain of the downturn is clear from declining real living standards. 

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Cranbrook Economics's curator insight, January 28, 2013 4:06 PM

Some interesting data on the 'achievements' of our current Chancellor. So much for young Eton boys running the show....

Ed Woolgar's curator insight, February 4, 2013 2:07 PM

EW - Not an entirely fair article laying into George Osborne, it is only fair to consider that factors of Britain's economy do respond to Eurozone and other international conditions... 

Alex Edwards's curator insight, February 5, 2013 9:47 AM

he is indeed inept

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UK Economy Macroeconomics
Study resources curated for students wanting to keep up to date with key developments in the UK economy for their exams
Curated by Geoff Riley
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Counting the cost of ‘Brexit’ - FT.com

Counting the cost of ‘Brexit’ - FT.com | UK Economy Macroeconomics | Scoop.it
Depending on who you believe, an exit from the EU could give a big boost to Britain’s economy or trigger a sharp drop in output. The costs or benefits of EU membership ultimately hinge on economics but the studies done so far fail to give any clear
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Why is the Treasury's interest rate so low?

Why is the Treasury's interest rate so low? | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

UK government bond yields on ten year Treasuries have reached a record low of just 1.4%. What might the decline in government bond yields tell us about prospects for both the UK and the Euro Zone economy? Robert Peston explores in this article.

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Bank of England says no urgency in returning interest rates to normal levels

Bank of England says no urgency in returning interest rates to normal levels | UK Economy Macroeconomics | Scoop.it
Decline in oil prices means there should be no hurry to raise borrowing costs, says monetary policy committee spokesman
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Could YOU get by without these 15 items?

Could YOU get by without these 15 items? | UK Economy Macroeconomics | Scoop.it
These are the items that are essential to living in Britain in 2015, according to a new survey. Do you agree?
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North-South divide 'widens sharply'

North-South divide 'widens sharply' | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

Significant and structural differences in regional economic growth are highlighted in a new report from the Centre for Cities. Entrepreneurial dynamism can be found across the country but the data on real jobs created shows a huge gap between net employment creation in the south and south-east and northern regions. Is regional policy sufficiently well-funded and targeted to make a difference?

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UK inflation at lowest since 2000 - FT

UK inflation at lowest since 2000 - FT | UK Economy Macroeconomics | Scoop.it
Tumbling oil prices pushed Britain’s inflation rate to its lowest level since 2000 and with further falls inevitable in the months ahead, the Bank of England hinted heavily it was in no mood to contemplate raising interest rates in the near future.
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Economy tracker: Inflation

Economy tracker: Inflation | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

The BBC website regularly updates the inflation data as new figures are produced. 

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‘Joyflation’ Poised to Lift British Economy From Misery

‘Joyflation’ Poised to Lift British Economy From Misery | UK Economy Macroeconomics | Scoop.it
The U.K. economy is about to get a dose of “joyflation.”
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North Sea firms predict tax cuts to save oil jobs

North Sea firms predict tax cuts to save oil jobs | UK Economy Macroeconomics | Scoop.it
oil explorers were paying 62 per cent tax
Geoff Riley's insight:

One of the effects of crude being sub $50 is that the high marginal cost of extracting from the north sea becomes a pressing issue. 

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Another economic crash is coming. How did this happen?

Another economic crash is coming. How did this happen? | UK Economy Macroeconomics | Scoop.it
Geoff Riley's insight:

The Guardian's Renegade Economist is troubled by the surge in private sector debt and fears that the government has bailed out the wrong sector - namely the banks.

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Young workers hit hardest by wages slump of post-crash Britain

Young workers hit hardest by wages slump of post-crash Britain | UK Economy Macroeconomics | Scoop.it
Institute for Fiscal Studies claims almost all groups have seen real wages fall following financial crisis
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▶ UK unemployment falls - the changing pattern of jobs

The number of unemployed people in the UK has fallen to its lowest level in more than six years and wages are growing at their fastest annual rate for two ye...
Geoff Riley's insight:

Students will know that I am a big fan of the Financial Times channel on You Tube. Today's clip focuses in on the (hugely welcome) fall in unemployment in the UK and also the fast-changing pattern of jobs. Are we seeing a disproportionate number of new jobs in relatively low-paid sectors? What are the consequences of a recovery largely filled with service sector jobs offering meagre earnings?

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jon inge's curator insight, January 24, 3:34 PM

IB's keep a close eye on world trends and issues 

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0.5% annual CPI inflation. Good news?

0.5% annual CPI inflation.  Good news? | UK Economy Macroeconomics | Scoop.it
That's what George Osborne's twitter feed would have you believe.  And it was echoed by Andrew Sentance.  Statements like these are at odds with modern monetary macro, and they are pretty irrespons...
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Bank governor may be forced to write open letter explaining low inflation

Bank governor may be forced to write open letter explaining low inflation | UK Economy Macroeconomics | Scoop.it
Oil price slump and retail price war may cut inflation to as low as 0.7% making Mark Carney the first governor since 1997 to write formal explanation
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Low and still lower

Low and still lower | UK Economy Macroeconomics | Scoop.it
Happy beneficiary of an alarming trend GEORGE OSBORNE, the chancellor of the exchequer, rejoiced at the news on January 13th that consumer price inflation fell to...
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UK inflation falls to lowest ever level of 0.5%

UK inflation falls to lowest ever level of 0.5% | UK Economy Macroeconomics | Scoop.it
Surprise fall in December’s inflation fuelled by petrol price drop and retail price wars means UK workers can at last look forward to sustained period of real wage rises
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Cheap petrol could put inflation below zero before election

Cheap petrol could put inflation below zero before election | UK Economy Macroeconomics | Scoop.it
Falling prices in shops and on forecourts would be a ‘shot in the spending arm’ for consumers and boost economic growth
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Unemployment is having a negative impact on young people's emotional health

Unemployment is having a negative impact on young people's emotional health | UK Economy Macroeconomics | Scoop.it
Unemployment is damaging the emotional well-being of young people, research released today has found.
Geoff Riley's insight:

The human / social cost of unemployment 

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Laura Tilli's curator insight, January 14, 7:05 AM

Maailma kärsii talousvaikeuksista ja työttömyys kasvaa. Tuore tutkimus kertoo työttömyyden negatiivisista vaikutuksista 16-25 -vuotiaisiin nuoriin ja nuoriinaikuisiin. Monet kertovat tuntevansa itsensä usein ahdistuneeksi jokapäiväisistä tilanteista ja välttelevänsä uusien ihmisten tapaamista. Myös noin puolet tutkitun ikäryhmän työttömistä tuntee itsensä masentuneeksi ja alakuloiseksi usein tai aina. Työttömyys lisää myös syrjäytymisen riskiä, sillä noin yksi kymmenestä tuntee ahdistusta, jos heidän tarvitsee poistua kotoa. Työttömyys on vakava ongelma, jolla voi olla vielä vakavammat seuraukset. Jos nuoria ei tueta eikä heille tarjota apua on vaarana heidän syrjäytyminen, silloin heistä ei myöskään saa työvoimaa silloinkaan, kun sille olisi tarvetta. Nuorissa on tulevaisuus, heillä on paljon kykyjä ja heitä tullaan vielä tarvitsemaan kipeästi työvoimaksi. Tämän vuoksi olisikin tärkeää auttaa nuoria työttömiä ja tarjota heille apua, etteivät he joudu kokemaan työttömyyden aiheuttamia ongelmia.

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Mortgage rates at record lows as price war takes off

Mortgage rates at record lows as price war takes off | UK Economy Macroeconomics | Scoop.it
Lenders lock horns amid low inflation and expectations that interest rates will not rise
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The housing crisis in charts

The housing crisis in charts | UK Economy Macroeconomics | Scoop.it
From rich to poor, housing affects us all. We look at the numbers that have brought us to this state
Geoff Riley's insight:

This feature from the Guardian is excellent in providing a statistical overview of recent developments in the UK housing industry. A chronic lack of new housebuilding lies at the heart of poor housing affordability. Housing rents are expensive in many localities impeding the geographical mobility of labour. Can we ever truly address the unemployment issue in the long run without reforms to our housing industry?

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