Macroeconomics: UK economy, A-Level Economics
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Macroeconomics: UK economy, A-Level Economics
Economy
A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by Graham Watson
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Scooped by Graham Watson
April 12, 2018 3:36 AM
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Carpetright to axe 300 jobs and 92 stores in rescue bid

Carpetright to axe 300 jobs and 92 stores in rescue bid | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.telegraph.co.uk - April 12, 2018 3:35 AM
Around 300 jobs will be axed at Carpetright after the embattled retailer unveiled plans to shut another 81 stores and tap investors for £60m under a sweeping restructure.
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Graham Watson's insight:
More bad news for the High Street. Carpetright are looking at axing jobs and stores to reshape the business. 
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April 12, 2018 3:20 AM
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5G: What the superfast connection will mean for you

5G: What the superfast connection will mean for you | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 11, 2018 7:04 PM
The connection will have speeds of between 10 and 100 times faster than 4G.
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Graham Watson's insight:
This BBC article looks at the possible impact of the introduction of 5G broadband technology and what it will do for us. My suggestion? Less than its advocates claim.
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April 11, 2018 10:03 AM
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Littlewoods owner Shop Direct puts 2,000 jobs at risk

Littlewoods owner Shop Direct puts 2,000 jobs at risk | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 11, 2018 10:00 AM
Shop Direct, one of the UK's largest online retailers, plans to close three warehouses.
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Graham Watson's insight:
Two thoughts: negative regional multiplier for Greater Manchester, plus a suggestion that the retailing environment, irrespective of whether you are on the high street or not, is still a tricky one.  
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April 11, 2018 5:52 AM
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Tough year for UK high street as internet shopping and weak pound bite | Business | The Guardian

Tough year for UK high street as internet shopping and weak pound bite | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - April 11, 2018 2:36 AM

1,700 chain shops closed in 2017 as consumer confidence fell and wage rises slipped below inflation

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Graham Watson's insight:
The tough trading conditions on the high street are highlighted by the Guardian, focusing on the continued drift towards internet shopping and the weak pound. And this has broader implications for the macroeconomy.
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April 11, 2018 5:23 AM
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UK manufacturing output falls 0.2% in February

UK manufacturing output falls 0.2% in February | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 11, 2018 5:23 AM

Economists had forecast a 0.2% rise in industrial and manufacturing output for February.

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Graham Watson's insight:
More push me, pull me, I'm afraid.
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April 3, 2018 7:21 AM
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Easter shoppers desert UK high streets, spreading retail gloom | Business | The Guardian

Easter shoppers desert UK high streets, spreading retail gloom | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - April 2, 2018 11:08 AM
It was billed the most promising weekend since Christmas, but bad weather dashes hopes
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Graham Watson's insight:
Retail sales are down, not least this weekend, but more generally. The high street is looking for a crumbs of comfort: the weather this weekend hasn't offered it.
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March 29, 2018 3:48 PM
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Investment up as manufacturers cash in on export boom 

Investment up as manufacturers cash in on export boom  | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.telegraph.co.uk - March 29, 2018 3:47 PM
Britain’s factories are investing more in growth than at any point since 2014 as solid domestic demand and surging exports drive their expansions.
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Graham Watson's insight:
Yet more investment! Crikey!
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Scooped by Graham Watson
March 29, 2018 3:45 PM
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Britons' savings hit record low as price rises bite

Britons' savings hit record low as price rises bite | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.telegraph.co.uk - March 29, 2018 3:41 PM
Savings hit a record low last year as families faced rising prices and stagnant incomes in 2017.
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Graham Watson's insight:
The latest data reveals that the UK savings ratio has reached a record low, dipping to below 5% - to 4.9% of earnings. What are the implications of this for the macroeconomic situation, both in the short-run and the long-run? 

This isn't a 'sexy' story but in terms of economic fundamentals, it implies some interesting things about future growth in particular. 
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March 29, 2018 3:28 PM
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Borrowing more likely than saving in UK

Borrowing more likely than saving in UK | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - March 29, 2018 3:27 PM
Households became net borrowers last year for the first time since data began to be collected in 1987.
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Graham Watson's insight:
An interesting change in the behaviour of UK consumers - the average UK household is a net borrower rather than a net saver - for the first time since the collection of this data began thirty years ago.
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Scooped by Graham Watson
March 29, 2018 2:21 AM
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UK car production falls as domestic demand slumps

UK car production falls as domestic demand slumps | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - March 28, 2018 7:02 PM
The number of cars built in Britain fell as domestic demand dived 17%, the SMMT says.
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Graham Watson's insight:
Sales down again, and yet, if even the Guardian is cautiously optimistic about the prospects for the UK economy, does this just reflect a change in our car-buying habits?
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March 28, 2018 11:54 AM
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Google’s tax bill rises to £50m

Google’s tax bill rises to £50m | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - March 28, 2018 11:49 AM
The tech giant’s annual accounts reveal rising revenues and profits.
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Graham Watson's insight:
Google have announced that they are going to pay higher UK taxes than before, £50m this year. However, this is still controversial: the total value of Google's sales in the UK is about £5.7bn a year, making the average rate of taxation less than 1% of total UK sales.

All part of the great debate about whether the current tax regime is fit for purpose in the digital economy.  
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March 27, 2018 2:38 AM
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Apprentice levy under pressure with fresh fall in sign-ups expected

Apprentice levy under pressure with fresh fall in sign-ups expected | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.telegraph.co.uk - March 26, 2018 2:35 AM
Moves to boost Britain’s apprenticeships system are set to suffer another heavy blow this week, with the number of people signing up for the training programmes expected show a further plunge.
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Graham Watson's insight:
Another article that highlights the fact the Apprenticeship Levy doesn't appear to be working. Not only does it force firms to contribute to funding such schemes, "all employers with an annual wage bill of £3m or more have to pay 0.5pc of their staff costs into a fund topped up by government".

And yet, if you drill down into the data, there are some interesting figures: "as October, of the 19,150 companies paying into the levy, only 11,900 had registered to claim funding back from it. This means that 38pc of companies contributing to the levy have effectively written the money off." Is this a classic example of government failure.
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March 26, 2018 9:17 AM
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Credit card debt growth at 12-year high

Credit card debt growth at 12-year high | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - March 26, 2018 9:15 AM

Annual growth in outstanding credit card debt speeds up owing, in part, to tap and go payments.

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Graham Watson's insight:
Consumer debt is up - and should this be a concern. Well, interest rates are going to rise in the near-future and this will increase the burden of debt repayment, and is this going to be combined with continued Brexit uncertainty. Either way, there seems little immediate prospect of growth picking up dramatically in the near future.
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Scooped by Graham Watson
April 12, 2018 3:24 AM
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Carmakers fear rising trade barriers after Brexit

Carmakers fear rising trade barriers after Brexit | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 12, 2018 3:22 AM
A good Brexit deal will be vital to the continuing health of the UK car industry say observers.
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Graham Watson's insight:
Carmakers. Brexit. Interface. 

For carmakers and Brexit, substitute cat and pigeons. 
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April 12, 2018 3:17 AM
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Rate rise doubts as property demand falls, says RICS

Rate rise doubts as property demand falls, says RICS | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 12, 2018 3:13 AM
Fewer people moving home means less spending making May's interest rate decision harder, surveyors say.
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Graham Watson's insight:
The Royal Institution of Chartered Surveyors (RICS) has attempted to muddy the waters in relation to future direction of interest rates, by suggesting that the moribund state of the housing market could put the brakes on future rate rises.

That and the recently announced fall in manufacturing output might make the May interest rate decision more interesting that might otherwise have been the case. 
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April 11, 2018 6:06 AM
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Why the UK trade deficit with the EU is woeful and widening | Larry Elliott | Business | The Guardian

Why the UK trade deficit with the EU is woeful and widening | Larry Elliott | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - April 8, 2018 5:22 AM

The single market benefits manufacturers far more than providers of services. Guess which Britain excels in

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Graham Watson's insight:
Larry Elliott's Observer piece from Sunday is excellent, and even for a Remain leaning paper, poses some interesting questions about the nature of the single market and why it is biased in favour of manufacturers.
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Scooped by Graham Watson
April 11, 2018 5:27 AM
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Brexit: 'Bonfire of rules' mean more costs than benefits, CBI says

Brexit: 'Bonfire of rules' mean more costs than benefits, CBI says | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 11, 2018 5:24 AM

The employers' group says the economy will suffer if Britain diverges too far from existing EU regulations.

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Graham Watson's insight:

Lovely cost-benefit angle to this Brexit article, with the CBI warning that a potential 'bonfire of rules' is likely to be more of a burden to the UK economy than a benefit, contrary to what many claim.


It should be easy to work out why - even though we wouldn't be in the Single Market, we'd still have to comply with its rules if we wanted to trade with it. Additionally, we'd also have to establish our own, similar rules and that has a cost.

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April 5, 2018 11:46 AM
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UK car registrations plunge in March

UK car registrations plunge in March | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - April 5, 2018 1:17 AM
Latest figures from the SMMT show a big drop in the number of vehicles registered last month.
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Graham Watson's insight:
The notion of a broad-based recovery looks somewhat illusory although the central premise of this story is somewhat flawed. The "big drop" in car sales was expected and thus not the shock the BBC headline implies, but it still suggests that there's a degree of uncertainty present in the UK economy.
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Scooped by Graham Watson
March 29, 2018 3:52 PM
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Household spending hit six-year low in 2017 amid Brexit inflation | Business | The Guardian

Household spending hit six-year low in 2017 amid Brexit inflation | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - March 29, 2018 7:11 AM
Statistics office figures show UK had lowest growth among G7 economies
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Graham Watson's insight:
Evidence of the post-truth world, perhaps? The Guardian "doing a Telegraph" and giving undue weight to a story that confirms what is already wants to be true. the rate of growth of household spending has been low to the extent that figures for the last quarter of 2017 imply that the economy is struggling. 

All of this would be convincing, if it weren't for the fact that the Guardian spent the early part of the week suggesting that things weren't as bad as they'd expected. Something about having cake and eating it, springs to mind. 
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March 29, 2018 3:47 PM
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Brexit progress takes brakes off business investment

Brexit progress takes brakes off business investment | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.telegraph.co.uk - March 29, 2018 3:46 PM
The brakes may be coming off business investment in the wake of progress in Brexit negotiations, new figures have suggested.
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Graham Watson's insight:
Increased Brexit certainty means that investment has risen. Not a surprise, but good news nonetheless. 
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Scooped by Graham Watson
March 29, 2018 3:33 PM
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UK/EU trade deal? Boy, it's going to be a complicated year

UK/EU trade deal? Boy, it's going to be a complicated year | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.bbc.co.uk - March 29, 2018 3:29 PM
With 12 months to go until the UK leaves the EU, attention is turning to Britain's future trading relationship with the bloc.
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Graham Watson's insight:
Kamal Ahmed looks at the implications of the last year of the Brexit transition, focusing on the potential benefits and costs of the UK leaving the EU  and the difficulties of managing it.

It seems that all parties want a future trade deal, but equally, it seems that the immediate implication of the deal is lower growth for the UK.
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March 29, 2018 3:24 AM
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UK businesses told to expect workforce crisis after Brexit | Politics | The Guardian

UK businesses told to expect workforce crisis after Brexit | Politics | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - March 28, 2018 7:01 PM
Employment consultant says growth in number of workers will nosedive and urges companies to invest in young people
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Graham Watson's insight:
Fine work from the Guardian: having sugared the Brexit pill yesterday, they go for broke today, arguing that the size of the workforce is going to grow less rapidly as a result and that it's going to be imperative to train young UK workers. Sectors such as health and social care, and, hospitality are at the greatest risk of struggling to recruit the workers that they need.  
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March 28, 2018 12:35 PM
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The Brexit economy: light at the end of the tunnel? | Business | The Guardian

The Brexit economy: light at the end of the tunnel? | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - March 27, 2018 9:03 AM
With progress in talks with Brussels sterling has now strengthened, inflation is falling and pay is rising
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Graham Watson's insight:
"Light at the end of the tunnel" - Brexit in the Guardian. The paper reflects on the past week and flags up the fact that the latest economic data appears to support the notion that there's a bit more solidity to economic fundamentals.
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March 27, 2018 2:47 AM
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Tax havens are a stain on Britain – the cleanup starts now | Opinion | The Guardian

Tax havens are a stain on Britain – the cleanup starts now | Opinion | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - March 27, 2018 1:00 AM
We need answers about crown dependencies and overseas territories that help the wealthy dodge tax owed to society, says Treasury subcommittee chair, John Mann
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Graham Watson's insight:
An interesting aside regarding tax havens. I have to say I agree with John Mann. Of course, those people who are among the biggest complainers about benefit fraud are among those not paying the £34bn of tax that went unclaimed in 2015-16.
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March 26, 2018 10:04 AM
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Pay is falling behind productivity – with Brexit-voting areas worst off | Business | The Guardian

Pay is falling behind productivity – with Brexit-voting areas worst off | Business | The Guardian | Macroeconomics: UK economy, A-Level Economics | Scoop.it
From www.theguardian.com - March 25, 2018 7:01 PM
In leave strongholds such as Lancashire and Cumbria output is booming – but not wages
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Graham Watson's insight:
Interesting analysis of the productivity puzzle, as it transpires that pay is falling behind productivity in Brexit-supporting areas in particular. This implies that regional inequality is likely to rise in future.
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