This morning I went to a Resolution Foundation event about the future of monetary policy. Although I cannot claim to be an expert, having listened to the views of the panel I thought I’d make some reflections. The story of recent monetary policy During the Global Financial Crisis, the Bank of…Read more…
Unite proposes €2 billion one-off social housing investment in pre-Budget submission
“After seven years of taking the wrong options, we have an opportunity to start making the right choices”Read more…
The slowest ever recovery slows down again
Quarterly GDP growth is estimated at only 0.3% in 2015 Q1, half the rate of 0.6% seen in both Q3 and Q4 of 2014, and only a third of the 0.9% growth seen a year ago in 2014 Q1. The median view of commentators was for 0.5%, and 0.3% coincided with the most pessimistic of those…
The post The…Read more…
In fact, this is the slowest UK ‘recovery’ ON RECORD
A second look at historic GDP data shows the current ‘recovery’ is the slowest on record (which extend back to 1830), rather than the slowest recovery in modern history, as we reported yesterday. This chart shows index numbers of recoveries in GDP from the bottom of each recession to…Read more…
The slowest recovery in modern history slows down
GDP figures today disappointed expectations, with growth slowing for the second quarter in row, and increasingly departing already from the Office for Budgetary Responsibility forecast. In numbers: growth slowed to 0.5% in the last quarter of 2014, from 0.7% in the third quarter. This defied city…Read more…