Tag Archive: UK economy

  1. The Markets

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    For the UK economy I think the phrase was spot on from the chief economist of the Bank of England, Andy Haldane, when he described it as being in a position of both agony and ecstasy. For the ecstasy we now have an economy that is currently growing faster than any other developed economy on the globe. A rate of 3.1% for this year is expected and that for the UK is quite a pace, although obviously nowhere near the dynamic rates of the developing nations. In fact for the UK’s it could be described as running quite hot – especially when you consider not just the QE money pumped into it but the £22.2bn plus set aside for consumers’ claims from the PPI scandals. Whilst growth next year will likely ease to 2.4% according to the EY Item Club, this is hardly agony, although ecstasy would not be a sensible description either. Reasonable is more truthful, although sustainable would be better. (more…)

  2. The Spring Budget Background

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    A year ago, nobody – including Mr Osborne – expected the 2014 Budget to be set against such a relatively benign economic background for the UK. In March 2013 the talk was of a triple dip recession, as the country had just recorded a contraction of 0.3% in the final quarter of 2012.  Inflation, as measured by the February 2013 Consumer Prices Index (CPI), was running at 2.8% and had been above its 2% target since December 2009.  In Europe the latest round of the Eurozone crisis was taking place, with Cyprus becoming the fifth EU member to seek a bailout. All in all, it was not a pleasant economic backdrop against which to present another austerity-as-she-goes Budget that promised a further £100bn+ government deficit for the coming year. (more…)

  3. The UK Economy Is Continuing To Grow At A Respectable Pace

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    The provisional UK economic growth figure for the third quarter of 0.8% was in line with market expectations, but no less welcome for that. As the graph shows, the UK economy has made a stuttering recovery from the financial crisis, but now appears to be gaining some momentum.

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  4. When I’m 64……

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    The number of people aged over 65 in work has reached a new record. 

    There are now over one million people in work aged 65 or over according to the latest statistics from the ONS. That represents nearly one in ten of the 65 and older population – more than double the proportion at the start of 2001. There has been a steadily rising trend, seemingly immune to the vagaries of the UK economy since the turn of the millennium.

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