We are living longer – perhaps we should all be working longer too June 19, 2018 By the year 2030, it is estimated that there will be just 2.3 working age adults in the EU for every person over 65. The demographics of the developed world are changing, and policy is struggling to keep up. British people are living longer – and this is surely to be celebrated. But as life [...]
Bank of England to hold rates as weak economy spurs calls to boost business investment June 18, 2018 The Bank of England is expected to hold interest rates steady at its latest monetary policy meeting this week with debate raging among economists as to whether the UK economy is ready for another rate hike. The Bank’s monetary policy committee (MPC) meets this week before Thursday’s midday announcement, with doubts growing over whether interest [...]
NHS £20bn spending increase to require UK to ‘contribute a bit more’ says Prime Minister Theresa May June 17, 2018 The government will increase spending on the National Health Service (NHS) by more than £20bn by 2022, with firms and consumers “contributing a bit more”, likely through higher borrowing or tax rises. The increase in NHS England spending will be the equivalent of a 3.4 per cent increase per year in real terms, below the [...]
Bitcoin would ‘break the internet’ if used as the main retail payments network says Bank for International Settlements June 17, 2018 Cryptocurrencies like bitcoin and ethereum are a “poor substitute” for state-backed currencies and would break the internet if used in their current form at a national scale, according to a report published today by a powerful central banking body. The Bank for International Settlements (BIS) said that the lack of a central institution backing cryptocurrencies [...]
European Central Bank announces end of quantitative easing June 14, 2018 The European Central Bank (ECB) today announced the end of its quantitative easing (QE) bond purchases, in a landmark moment in the Eurozone's drawn-out economic recovery. The ECB said it will reduce the pace of asset purchases from €30bn (£26.4bn) per month to €15bn from September to December, in a press released today after its [...]
A sovereign wealth fund could diffuse the UK’s debt timebomb June 13, 2018 There’s a hint of sunshine peeping out from behind the grey clouds of austerity. After eight long years of belt-tightening, we’re living within our means at last. Our taxes cover our day-to-day spending on things like health, education, policing and defence, so we’re only having to borrow to invest in long-term infrastructure like roads and [...]
Higher oil prices to boost UK inflation with ECB and Federal Reserve in tightening mood June 10, 2018 Higher oil prices are expected to cause a rebound in UK inflation, adding to expectations that the Bank of England will carry out the rate hike it delayed in May in the coming months. Consumer price index inflation will bounce back in May to a yearly rate of 2.6 per cent in data published on [...]
Editor’s Notes: Time to wake up to your own online data dump March 23, 2018 Having spent the past decade pouring my every opinion and interest on toFacebook, I find myself outraged to discover that the data generated by my self-obsessed oversharing has been used to try and sell me things. Worse, political campaigns have been using my deep data footprint to try and target me with campaign messages. This [...]
Brexit job losses would have “severe” consequences for the British Budget says Institute for Fiscal Studies March 14, 2018 Job moves from the UK to the EU after Brexit would be a disaster for the public finances, according to the respected Institute for Fiscal Studies (IFS). Paul Johnson, director of the IFS, said: "If high-paid jobs and EU citizens, who are well represented among high earners in the UK, relocate elsewhere the consequences for [...]
Canada finance minister: UK and Canada should aim for better trade deal than Ceta March 12, 2018 Canada and the UK should aim for a post-Brexit trade deal which is better than the current arrangement, according to finance minister Bill Morneau. Morneau said the deal agreed in late 2016 with the EU, the Comprehensive Economic and Trade Agreement (Ceta), will be the model for “replication” with the UK once it leaves, but [...]