Pensioners have been ‘hit particularly hard’ by the recession

Both pensioners and the poorest households have been badly hit by the recent recession, according to a report produced by the Institute of Fiscal Studies (IFS) and funded by the BBC. The IFS estimates that in the three years from 2008 to 2011 real household incomes will have fallen by 1.6%, or £360 per year. This means that households are … Continue reading

Posted by Nigel Tree | Comments Off on Pensioners have been ‘hit particularly hard’ by the recession

Squeeze on living standards is inevitable says Merv

“In 2011, real wages are likely to be no higher than they were in 2005. One has to go back to the 1920s to find a time when real wages fell over a period of six years.” “The squeeze on living standards is the inevitable price to pay for the financial crisis and subsequent rebalancing of the world and UK … Continue reading

Posted by Nigel Tree | Comments Off on Squeeze on living standards is inevitable says Merv

I’m expecting a call from the Queen at lunchtime

Well to be strictly accurate it will be from the Queen’s Head. I’m meeting Skipper Harrison and some of the lads down there for a celebratory drink. We’re used to late night sittings, so this running the country stuff should be a bit of a doddle. The first thing we will have to do is choose a cabinet. I know … Continue reading

Posted by Nigel Tree | Comments Off on I’m expecting a call from the Queen at lunchtime

What are the implications of the rise in prices last month?

So, inflation is still on the rise. The government’s target measure of CPI rose from 3.0% in February to 3.4% in March. This was mainly due to the cost of gas and petrol prices and a spike in food prices. A weak level of sterling is coupling with very high prices for oil and other commodities, and on top of … Continue reading

Posted by Nigel Tree | Comments Off on What are the implications of the rise in prices last month?

Rapid rise in UK inflation

The Consumer Prices Index (CPI) rose to 3.5% in January from 2.9% in December. According to the Office of National Statistics (ONS) this is the second largest ever increase in the annual inflation rate between two months. It follows on from the record increase of 1.0% in the annual inflation rate between November and December. The reason for the increase … Continue reading

Posted by Nigel Tree | Comments Off on Rapid rise in UK inflation

The world is trapped in a global savings glut

So starts an article published last week by Robin Wells on the guardian.co.uk website. The title of her article is: Big savers got us into this mess, as well as big spenders.   She starts by saying that the global savings glut is the source of our economic problems as well as an obstacle to our recovery and claims that … Continue reading

Posted by Nigel Tree | Comments Off on The world is trapped in a global savings glut

Record repayment of consumer borrowing

The Bank of England has just reported that unsecured loans, which include bank loans but exclude mortgages, fell by £713m in October, which is the biggest month-on-month fall since records began in 1993.   The total amount of unsecured consumer borrowing now stands at £228bn. When we look at the change in consumer credit for October the figures show that … Continue reading

Posted by Nigel Tree | Comments Off on Record repayment of consumer borrowing