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The UK’s official inflation rate has hit 4.8%, up on the previous month and its highest rate since September 2008. Driving the rate are big increases, over the year, in
The policy is uniquely flawed, with multiple faults. Of course, if government throws over £60 billion of subsidies to a minority of firms and workers, that will be popular with the recipients. But a scheme should be judged by what it does for the many, not the few, and for its opportunity cost.
PEF Council member Prof. Stephany Griffiths-Jones is a member of Chilean President Gabriel Boric’s group of economic advisors. With Boric winning a resounding victory in the Chilean Presidential elections, we
The ‘great widening’ of the last four decades – with the gains from growth increasingly colonised by the few – has had severe economic and social consequences. Intense concentrations of wealth have brought the return of ‘luxury capitalism’, with – as in the nineteenth century – the pattern of economic activity skewed by an over-rich and over-powered class, and resources deflected to meeting their demands.
PEF’s webinar on 24 November “Brexit: where are we now and where do we go from here?” has been uploaded to YouTube, for those that missed an excellent, in-depth discussion,
Both Boris Johnson and Keir Starmer chose to address the Confederation of British Industry conference this week. But far more interesting than the party leaders’ paeans to profit or to
Latest inflation figures from the Office for National Statistics put average price rises in the 12 months to September at 4.2%, its highest rate of growth since November 2011. Back
Good news as the Bank of England’s Monetary Policy Committee (MPC) voted to once again hold its base rate steady at 0.1%. This comes a day after the US Federal
This week the UK Chancellor Rishi Sunak delivered the 2021 Autumn Budget in the House of Commons. The Budget confirms that this government has accepted a permanently larger role for
For three hundred years, care work and care labour have been woefully trivialised or ignored by economists. One is inclined to think this is partly due to the domination of
The Bank of England’s new chief economist, Huw Pill, gave his first interview in the job to the Financial Times a few days ago. It will do little to confirm
The UK’s official measure of inflation, the Office for National Statistics’ Consumer Price Index (CPI) came in slightly lower than widely anticipated, falling from 3.0% in August to 2.9% in
Quantitative easing risks generating its own boom-and-bust cycles, and can thus be seen as an example of state-created financial instability. Governments must abandon the fiction that central banks create money independently from government, and must themselves spend the money created at their behest.
Since QE was introduced in 2009, it has saved the government over £110bn in interest payments. This is a non-trivial sum, equivalent to nearly 2% of total tax revenue since
The pandemic has exposed how dependent on care we are not only as individuals, but as a society. But our care system, already struggling well before the outbreak of the
PEF Council members recently discussed, via email, the government’s plans for social care and its financing. We were unanimous in agreeing on the bad design of the scheme, on the
An interesting debate was opened by Labour’s MP for Neath, Christina Rees, in Parliament’s Westminster Hall last week on Italy’s “Marcora Law”. This is the legislation introduced there in 1985
The Conservative government looks set to announce that it will be introducing a rise in National Insurance Contributions of up to 1.25 percent on Tuesday this week. The intention is
Among the most depressing aspects of the latest IPCC report is the predictable lamentations by the usual suspects trotting out platitudes about the last chance to do something to stop
The Progressive Economy Forum is today publishing a short essay by economist Guy Standing on how the left can redefine its defence of the National Health Service – treating it
The Progressive Economy Forum is today publishing a detailed new guide to the economic programme of the Joe Biden administration. In less than six months since his inauguration as US
PEF Council member Robert Skidelsky advocates federal job guarantees and ‘compensated free trade’ to avoid inflation in the Biden plan
The paper outlines the case for fiscal policy to regain a permanent status of primacy in modern macroeconomic management, beyond the pandemic emergency and makes the case for public job programmes
see films clips of authors introducing their chapters in PEF’s book , The Return of the State
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