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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 | Unit 2 AS Macro - Managing the Economy | 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.

Via Geoff Riley
Cranbrook Economics's insight:

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

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Geoff Riley's curator insight, January 27, 2013 4:05 PM

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. 

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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Unit 2 AS Macro - Managing the Economy
Ideal for year 12 Macroeconomics. Focusing on Government Economic Policy and articles concerning the four main Macroeconomic indicators.
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Bank holds rates and QE measures

Bank holds rates and QE measures | Unit 2 AS Macro - Managing the Economy | Scoop.it
The Bank of England keeps its stimulus programme unchanged and holds interest rates at 0.5% at the last meeting under governor Sir Mervyn King.
Cranbrook Economics's insight:

Say goodbye to Marv.... who goes out with a big 'policy' bang, Or not.....

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The story of the downturn

The story of the downturn | Unit 2 AS Macro - Managing the Economy | Scoop.it
How the global financial crisis - which first touched the UK when Northern Rock collapsed in 2007 - led to a long downturn from which the country has still not recovered.
Cranbrook Economics's insight:

A nice little graphic including some good up-to-date data summarising the last five years of doom and gloom

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UK services sector in strong growth

UK services sector in strong growth | Unit 2 AS Macro - Managing the Economy | Scoop.it
The UK economy is 'firing on all cylinders' after the latest services figures show strong growth.
Cranbrook Economics's insight:

Is there still life in the Economy? Signs that the service sector has the potential to push on GDP growth into the third and forth quarter of this year.

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OECD warns of economic growth gap

OECD warns of economic growth gap | Unit 2 AS Macro - Managing the Economy | Scoop.it
The world's developed economies will see diverging rates of growth over the next two years, the OECD says.
Cranbrook Economics's insight:

Year 12 - it's now time to start thinking about next year when you will be looking at the global economy. Time to start thinking about the global context and the differences between the US, the Eurozone and the rest of the world and how they are individually recovering from the financial crisis. Wouldn't be a bad idea to start looking at NGO's like the World Bank, the IMF and the OECD and reading about what they have to say.

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Pound falls after dip in inflation

Pound falls after dip in inflation | Unit 2 AS Macro - Managing the Economy | Scoop.it
The pound falls after lower fuel prices lead to a lower-than-expected inflation rate of 2.4% for April.
Cranbrook Economics's insight:

The latest data on the Exchange Rate in the UK

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UK inflation rate falls to 2.4%

UK inflation rate falls to 2.4% | Unit 2 AS Macro - Managing the Economy | Scoop.it
The UK's inflation rate fell to 2.4% in April, says the Office for National Statistics, down from 2.8% in March.
Cranbrook Economics's insight:

Latest infation information from the ONS - Lower petrol prices and air fares helped the consumer prices index (CPI) to fall for the first time since September 2012. This, despite fears that UK inflation was on the rise. Seems to suggest that the MPC is gaining some credibilitiy in their managmenet of the Macroeconomy

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Budget: Key points at a glance

Budget: Key points at a glance | Unit 2 AS Macro - Managing the Economy | Scoop.it
An at-a-glance summary of the main points of the 2013 Budget.
Cranbrook Economics's insight:

The Basic Points Explained!!!

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HS2 ruling 'a landmark victory'

HS2 ruling 'a landmark victory' | Unit 2 AS Macro - Managing the Economy | Scoop.it
A High Court ruling into consultations on the planned HS2 high-speed rail scheme is hailed as "a landmark victory" for the project by the rail minister - despite one being ruled unlawful.
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BoE rejects more economic stimulus

BoE rejects more economic stimulus | Unit 2 AS Macro - Managing the Economy | Scoop.it
The Bank of England's rate-setting committee has kept interest rates at 0.5% and rejected calls to inject more stimulus into the economy.
Cranbrook Economics's insight:

Another good look at the economy as a whole and what the Bank of England could do to encourage growth...

 

Its always prudent to stay on top of the stresses and strains the UK economy is under. 

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Cable suggests 'more borrowing'

The government may need to borrow more to fund capital spending if the UK's economy is to recover, Business Secretary Vince Cable suggests.
Cranbrook Economics's insight:

A fantastic article to show the contrasting policy options available to the government and how, depending on who is in power, the Economy can be pushed in one way or the other. Have a read....

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£5bn Liverpool docks plans approved

£5bn Liverpool docks plans approved | Unit 2 AS Macro - Managing the Economy | Scoop.it
Plans for a £5.5bn redevelopment of Liverpool's docklands are given the final go-ahead by the government.
Cranbrook Economics's insight:

Investment and job creation in Liverpool; very good for the regional economy and very good for aggregate demand in general. Think about what we were saying about tourism, construction and all the different types of unemployment this week and how this will help more than just the people of Liverpool. 

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Welfare-to-work scheme 'is failing'

Welfare-to-work scheme 'is failing' | Unit 2 AS Macro - Managing the Economy | Scoop.it
The government's multi-billion-pound programme to help the long-term unemployed back into work is branded "extremely poor" by MPs.
Cranbrook Economics's insight:

According to Labour, the scheme is "worse than doing nothing". A lovely example of why government intervention is, in the eyes of some, an incredibly inefficient way of trying fixing a problem. But, regardless of your political home, have a read of this very interesting insight into the world of the unemployed. 

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Public finances in January surplus

Public finances in January surplus | Unit 2 AS Macro - Managing the Economy | Scoop.it
The UK's public finances recorded a surplus of £11.4bn in January, according to figures from the Office for National Statistics.
Cranbrook Economics's insight:

A little specific detail on the size of Government Debt. Nice to see, particularly when reflecting on all of our discussions about the size of the tax burden and strategies we as a country might employ to level the debt. Enjoy....

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Labour 'would cap welfare spending'

Labour 'would cap welfare spending' | Unit 2 AS Macro - Managing the Economy | Scoop.it
Ed Miliband promises to limit spending on benefits and review contribution-based payments as he unveils his party's new approach to welfare.
Cranbrook Economics's insight:

An interesting look at how Labour would manage the Fiscal Position of the Economy. Do you agree with Big Ed's plans? What would you do differently if you were in charge of Labour?

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George Osborne's Help to Buy scheme 'a moronic policy'

George Osborne's Help to Buy scheme 'a moronic policy' | Unit 2 AS Macro - Managing the Economy | Scoop.it
Leading analyst says chancellor's flagship scheme artificially inflates prices and drives the young into 'indentured servitude'

Via Geoff Riley
Cranbrook Economics's insight:

I tweeted this yesterday but another good read to have a think about how the chancellor is governing our economy and whether or not you agree with him. A good one to read y12 (or should I say my new year 13's)

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IMF Survey : U.K. Should Restore Growth, Rebalance Economy

IMF Survey : U.K. Should Restore Growth, Rebalance Economy | Unit 2 AS Macro - Managing the Economy | Scoop.it
The United Kingdom could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job skills, the IMF said as it wrapped up its annual check of Europe’s third largest economy.

Via Geoff Riley
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Geoff Riley's curator insight, May 23, 2013 3:08 AM

Some important evaluative comments in this for A2 macro students

Cranbrook Economics's curator insight, May 23, 2013 4:01 AM

George Osbourne takes a hammering this week from the IMF. What should the UK government be doing to restore growth and why isn't it doing it???

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IMF Survey : U.K. Should Restore Growth, Rebalance Economy

IMF Survey : U.K. Should Restore Growth, Rebalance Economy | Unit 2 AS Macro - Managing the Economy | Scoop.it
The United Kingdom could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job skills, the IMF said as it wrapped up its annual check of Europe’s third largest economy.

Via Geoff Riley
Cranbrook Economics's insight:

George Osbourne takes a hammering this week from the IMF. What should the UK government be doing to restore growth and why isn't it doing it???

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Geoff Riley's curator insight, May 23, 2013 3:08 AM

Some important evaluative comments in this for A2 macro students

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Bad weather hits retail sales again

Bad weather hits retail sales again | Unit 2 AS Macro - Managing the Economy | Scoop.it
UK retail sales in April were 1.3% lower than in March as bad weather continued to dent spending, official figures show.
Cranbrook Economics's insight:

Even in a developed country like the UK the weather can still affect the economy - people just don't like spending when it's raining!!

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Budget 2013: Britain's debt and deficit - Telegraph

Budget 2013: Britain's debt and deficit  - Telegraph | Unit 2 AS Macro - Managing the Economy | Scoop.it
We look at how Britain's debt and deficit has changed under Conservative and Labour governments over the past four decades.

Via Geoff Riley
Cranbrook Economics's insight:

The future of borrowing in the UK!!

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Geoff Riley's curator insight, March 20, 2013 6:04 AM

Background on the fiscal deficit and the national debt. More here: http://www.bbc.co.uk/news/business-21846044 ;

Graham Watson's curator insight, March 30, 2013 5:18 AM

A great graphic from the Telegraph detailing the government's fiscal position over the last four decades. A very clear indication of how the budget balance has changed and the obvious implications of this for the national debt, and long-term interest rates and inter-generational equity and so on...

 

My economists should be familiar with all of these arguments by now; you've heard them often enough...

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UK inflation basket: ebooks in, champagne out

UK inflation basket: ebooks in, champagne out | Unit 2 AS Macro - Managing the Economy | Scoop.it
Office for National Statistics notes recent increases in the number of people reading books digitally as it adds ebooks to the new basket of goods

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Geoff Riley's curator insight, March 13, 2013 4:18 AM

The latest changes to the basket of goods and services that are used when compiling the UK consumer price index

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Economic Analysis

Why Unemployment Falls to 7.7%, but Jobs Picture Remains Bleak   March 8, 2013 – by Dr. Peter Morici  Labor Department reported stronger gains for February, 236,000 – the January figure was only 119,000.
Cranbrook Economics's insight:

Up to date information on the UK labour market.....

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Budget Day strike for civil servants

Budget Day strike for civil servants | Unit 2 AS Macro - Managing the Economy | Scoop.it
The UK's largest civil service union, the PCS, has picked Budget Day - 20 March - to start its industrial action over pay and pensions.
Cranbrook Economics's insight:

I do love a good strike to emphasise the power of (and destruction / disruption casued by) Unions!!

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The triple A versus the triple dip

The triple A versus the triple dip | Unit 2 AS Macro - Managing the Economy | Scoop.it
The latest manufacturing survey shows new export orders declining in February, for the 14th month in a row. On this evidence, we are not exporting our way out of depression. At all.
Cranbrook Economics's insight:

Always a good one from Stephanie Flanders on the Economy in general. Have a think about the consequences and the policy option available for the government when it comes to avoiding a further deepening of the crisis. 

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Eurozone recession 'to persist'

Eurozone recession 'to persist' | Unit 2 AS Macro - Managing the Economy | Scoop.it
The eurozone recession is expected to linger longer into 2013, the European Commission says, with Spain, France and Portugal expected to miss agreed overspending targets.
Cranbrook Economics's insight:

An interesting look into the current situation in the Eurozone. Have a read, although remember this isn't specific to unit 2. 

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UK unemployment total falls to 2.5m

UK unemployment total falls to 2.5m | Unit 2 AS Macro - Managing the Economy | Scoop.it
UK unemployment fell in the three months to December, while the number in work also jumped to a new record, official figures show.
Cranbrook Economics's insight:

A fantastic article on the structure of Emplyment and Unemployment in the UK. Particulalry seeing as we will be moving on to consider Unemployment almost immediately after half term. So have a look and see what you think; if you were Labour, what would you be saying about the Coalitions 'success' in this area?

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