As government debt jumps to fund defence spending, our economy will pay the price

Sanctions will clearly hit the Russian economy very hard. But economic prospects for the West are not exactly rosy. Twice in the 1970s and again in the early 90s, there were rapid spikes in oil prices; each instance was followed by economic recessions. The deep recession following 2008 was, of course, due to financial causes […]

A four day week must withstand the productivity test to be worth the gamble

Durham based challenger bank Atom has announced a four day working week for all of its 430 employees as more and more people debate the number of days we should be working. For SMEs in the services sector, a four day week is an attractive bandwagon to jump on. It is commonly given credit for […]

Uncertainty from our leaders is keeping our economic recovery wavering on the brink

In November last year, the UK’s total GDP output finally regained its pre-pandemic level. But although the economic recovery is on an upward trajectory, there is a disconcerting stop-start hesitancy to it. A reasonable indicator of where the economy stands in any given month is the purchasing managers’ index which shows the prevailing direction of […]

Britons squeamish to spend their savings are jeopardising our economic recovery

The economic recovery is under threat. British consumers are saving and not spending. The Office for Budget Responsibility (OBR) estimates that during lockdown, households accumulated a massive £180bn of so-called “excess savings”.   Earlier in the year, most economic forecasts assumed that these would be run down. Lockdown had constrained people’s normal behaviour and with the […]