Dear Santa, all we want for Christmas is more freedom – sincerely, the economy December 20, 2018 What does the economy want for Christmas? The answer is what it always wants, but rarely gets: more economic freedom. Economic freedom is actually two presents, not one. To make this Christmas one to remember, the economy wants to unwrap both public and private sector freedom. Public sector freedom comes in the form of a [...]
The government’s immigration proposals aren’t perfect but they include plenty to cheer about December 19, 2018 Yesterday, this column predicted that the government's immigration white paper would be a pretty rum Christmas present for business. Today, we have to acknowledge that while the proposals don't satisfy everyone (or more accurately, every sector) there are elements to cheer. The Home Secretary, Sajid Javid, is known for a more liberal approach to immigration [...]
Federal Reserve goes through with expected US interest rate hike, chair Jerome Powell says he is ‘not worried’ about Trump criticism December 19, 2018 The US central bank, the Federal Reserve, has confirmed it is raising interest rates for a fourth time this year in the face of sustained opposition from President Donald Trump. As expected before the announcement, the Fed said it would hike interest rates by 0.25 to a range of 2.25 per cent 2.5 per cent [...]
Morning Wire’s shadow monetary policy committee unanimously vote to hold interest rates December 19, 2018 The Bank of England has no choice but to hold interest rates when its monetary policy committee meets tomorrow as Brexit uncertainty continues to loom large, city economists have warned. The Bank’s rate-setting monetary policy committee (MPC) will announce its decision at midday and is expected to leave rates unchanged at 0.75 per cent. City [...]
Whisky makers warn of damage in store in no deal scenario December 19, 2018 The makers of Scotch whisky have issued a warning to MPs that a no deal Brexit scenario would strike a damaging blow to the £4.5bn industry, which is the UK's biggest food and drink export. The Scotch industry, which supports 40,000 jobs across the UK, is particularly sensitive to the fall out from a no deal Brexit because 90 per [...]
UK inflation falls to 20-month low led by cheaper petrol prices in Christmas boost for households December 19, 2018 UK inflation fell to a 20-month low in November led by cheaper petrol prices in a boost for consumers in the run up to Christmas. Consumer prices rose by 2.3 per cent in November, down from 2.4 per cent the previous month and the slowest rate since March 2017, according the Office for National Statistics. [...]
Food waste will be next year’s moral crisis, just as single-use plastic was this year December 18, 2018 In these turbulent times, there was one villain who stood out in 2018. Plastered all over our TV screens, phones, and newspapers, this particular offender was everywhere. It is destructive, toxic, and impossible to get rid of. I am of course talking about single-use plastic. That said, the response to this growing threat has been [...]
UK economy set for slowest growth since 2009 and business investment to decline, BCC warns December 18, 2018 UK economic growth could slow to its lowest level since 2009 over the next two years as business investment and the pound are hit by Brexit uncertainty, according to the British Chambers of Commerce. The group expected business investment to contract by 0.6 per cent in 2018 before growing 0.1 per cent next year. The outlook [...]
Trump attacks Federal Reserve again in row over interest rates hike December 17, 2018 President Donald Trump has continued his spat with America’s central bank, the Federal Reserve, ahead of its interest rates announcement this week. The Fed is expected to raise interest rates for the fourth time this year on Wednesday, a decision Trump today called “incredible” on Twitter. “It is incredible that with a very strong dollar [...]
UK export growth contracts for first time since 2015 as European economies face turmoil December 17, 2018 UK export growth has dropped to its lowest level since 2015 as political uncertainty and falling demand take their toll on European economies. The growth of UK exports fell by 0.7 points to 94.9 in the fourth quarter 2018, according to figures from BDO’s latest European Export Index. The UK is not the only European [...]