View your shopping bag

Items: (0) £0.00
  • €
  • $
  • £

Checkout

Monthly Archives: November 2010

Very positive forecasts from the OBR

The independent Office for Budget Responsibility (OBR) has just published its latest forecasts. It has raised its estimate for economic growth this year to 1.8%, from a previous figure of 1.2%. But, it believes that growth will be slightly slower over the next two years. It believes that there will be 2.1% growth next year, which is down from the … Continue reading

Posted by Nigel Tree | Leave a comment

The Irish crisis: Is it too late to cancel Christmas?

Thank goodness the UK is not in the eurozone. Ireland is on the verge of another banking crisis due to an ill-advised lending policy, which fuelled a property boom which turned to bust during the recession. Although the Irish government initially said that it did not need any help, the EU has sent the ‘heavies’ in, with the European Central … Continue reading

Posted by Nigel Tree | Leave a comment

Public sector finances still on track?

October’s public borrowing was worse than analysts had been expecting, but it is still possible that the government is on target to produce a budget deficit of £149bn, compared to £155bn in the previous financial year. The borrowing figure for October was £10.3bn, which was up from the £10.1bn of the previous year, but was the first time for five … Continue reading

Posted by Nigel Tree | Leave a comment

Growth is beginning to respond but there will be an uneven recovery

Economic activity in OECD countries will gradually pick up steam over the coming two years, but the recovery will be uneven and unemployment will remain persistently high, according to the OECD’s latest Economic Outlook. The OECD sees the main challenge to countries at the moment as the ability to move from a policy-driven recovery toward self-sustained growth.  “As stimulus is withdrawn, … Continue reading

Posted by Nigel Tree | Leave a comment

Small drop in unemployment

In the three months to September, the total number of people unemployed fell by 9,000 to reach 2.45 million. This gave an unemployment rate of 7.1% which was 0.1% down on the quarter. The picture is similar when we look at those claiming Jobseeker’s Allowance (also called the claimant count), with a fall of 3,700 between September and October, to … Continue reading

Posted by Nigel Tree | Leave a comment

Inflation keeps on rising

CPI annual inflation was 3.2% in October, up from 3.1% in September, to take it to a four month high. However, RPI inflation which includes mortgage interest costs and has a larger element of housing costs than the CPI, actually fell from 4.6% in September to 4.5% in October. The recent trend can be seen in the Table below.   … Continue reading

Posted by Nigel Tree | Leave a comment

“We’re absolutely certain that nobody knows what’s going to happen.”

This could have been the headline from the Bank of England’s November Inflation Report that was published this morning. All in all, it was riddled with uncertainty. Mr King, the governor of the Bank, said that given the slower growth in government spending, the strength of any recovery depended heavily on what was happening externally. He said: “The biggest …. … Continue reading

Posted by Nigel Tree | Leave a comment

UK trade deficit narrows slightly

The UK’s deficit on trade in goods and services was reduced to £4.6bn in September, compared with a deficit of £4.9bn in August according to the Office for National Statistics. In July, the deficit recorded was the highest for five years, so at least we have two months of figures moving in the right direction. When we look at the … Continue reading

Posted by Nigel Tree | Leave a comment

Fewer UK companies are going bust

There were 3,974 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the third quarter of 2010 (on a seasonally adjusted basis).  This was a decrease of 2.2% on the previous quarter and a decrease of 13.9% on the same period a year ago.  These figures just published by the Insolvency Service provide some much-needed good … Continue reading

Posted by Nigel Tree | Leave a comment

20% of UK households are not working

The ONS has just published figures for 2009, where they look at households which contain at least one adult of working age – between 16 and 64. The findings show that nearly one-in-five of such households did not have anyone who was in employment in 2009. This figure compared with 16% in 2008. And, it is not surprising, that this … Continue reading

Posted by Nigel Tree | Leave a comment