Productivity

June 30, 2017

‘Consumptivity’: the heartbeat of a modern economy

At the heart of a modern economy there beats a pacemaker with a rhythm that in large part sets its productivity, its exchange rates and…

May 30, 2017

Globalisation: the fightback for a fairer world begins

International trade has led to an equally global backlash from citizens of advanced economies against the economic deprivation to which they feel exposed, John Egan…

April 21, 2017

Artificial knee replacement – a Brexit canary

Are your aching knees becoming rather more painful? If the answer is yes, the United Kingdom industrial strategy could have particular pertinence. John Egan traces…

April 6, 2017

Productivity blues

A slew of new United Kingdom productivity statistics were yesterday released by the Office for National Statistics (ONS). The headlines tell a familiar story, but…

January 27, 2017

Four charts, two scenarios and a dilemma

UK Prime Minister Theresa May could find herself on the horns of a dilemma She has a problem. To quell the unrest that led to…

December 28, 2016

The big read: Life under the all-seeing “I”

Stefano Ermon of Stanford University’s Artificial Intelligence Lab speaks to Chief-Exec.com about the hopes and hazards of a world populated by learning machines As…

December 14, 2016

Wherein lies the future for economic migration?

In the forthcoming trade-off between migration controls and access to European Union (EU) markets, the UK economy could be hit from both sides, leading to…

December 7, 2016

Migration fault lines revealed

Few issues stir up such strident opinion as migration. From the wish to control borders and protect jobs and communities, to the need to open…

November 30, 2016

Hammond bets on a productive future

In 51 minutes and with 15 references to “productivity” the UK Chancellor Philip Hammond threw more light on what a post-Brexit Britain could look like…

October 12, 2016

October economic round-up

It is official The economic weather following the Brexit referendum on June 23 was generally mild. Earlier stormy forecasts proved to be off the mark,…

Leading European judge promotes plan for UK access to single market
Britain could retain access to the single market without answering to the EU’s court under plans put forward by one of Europe’s leading judges. The compromise over one of the most intractable disputes of the Brexit process is being brokered by Carl Baudenbacher, president of the court of the European Free Trade Association. His proposals would allow Theresa May to retain her red line of withdrawing from the European Court of Justice while accepting European demands for independent judicial oversight of any future “deep and special partnership”. The UK would maintain close links to the EU’s programmes and markets. The Times, August 21

New mechanism to oversee future EU relations
Britain will this week propose a “new and unique” dispute resolution mechanism to oversee post-Brexit relations between the UK and the EU, as Theresa May’s government tries to force the pace of exit talks. David Davis, Brexit secretary, will examine the precedent set by the European Free Trade Association court, which deals with Iceland, Liechtenstein and Norway in their relations with the EU single market. A government source on Sunday night said that Mr Davis would not this week propose a new court or tribunal to resolve UK-EU disputes, but the option had not been excluded. Financial Times, August 21

Online abuse ‘as serious as face-to face’
Online hate crimes should be treated as seriously as abuse committed face-to-face, prosecutors in England and Wales have been told. Revising its guidance for prosecutors, the Crown Prosecution Service said the impact of tweeting abuse can be “equally devastating” as shouting it. The guidance includes offences against bisexual people for the first time. Director of Public Prosecutions Alison Saunders said online abuse can fuel “dangerous hostility”. BBC news, August 21

NHS criticise private hospitals’ tax break
NHS trusts are calling for equal treatment on business rates after research revealed private hospitals get discounts worth £52m over five years. A study suggests more than one in four private hospitals are charities, giving them an 80 per cent rebate in business rates. But NHS trusts all have to pay in full, and will face a £300m increase in rates over the next five years. University Hospitals Birmingham Trust, the worst hit, is appealing against a rate rise of more than £2m this year. BBC news, August 21

Philip Hammond urged to use budget to help low-income families
Philip Hammond is being urged to use his autumn budget to ease the plight of low-income families, as research shows that rising inflation is making benefits cuts bite harder. A couple both working full-time on the “national living wage” in 2017 will generate only enough income to meet 87 per cent of the basic costs of bringing up a child, according to research published by the Child Poverty Action Group. For a lone parent, the figure is 83 per cent. The Guardian, August 21

Children more exposed to gambling adverts
Children are being bombarded with a record number of gambling adverts as betting websites embark on an unprecedented spending spree to attract new customers. Figures show that the industry has spent £1.4 billion on advertising since 2012, with online casinos doubling their marketing budgets over the past five years. Britain’s biggest charity to help addicts is so concerned about the increasing volume of advertising that it is urging ministers to introduce stricter rules. Writing today in The Times, Kate Lampard, the chairwoman of GambleAware, says: “With the average age at which children start to watch post-watershed TV unsupervised being 11¾, restrictions based on a 9pm watershed may offer little protection. The Times, August 21

Experts warn of ‘third revolution in warfare’
More than 100 leading robotics experts are urging the United Nations to take action in order to prevent the development of “killer robots”. In a letter to the UN, artificial intelligence (AI) leaders, including billionaire Elon Musk, warn of “a third revolution in warfare”. The letter says “lethal autonomous” technology is a “Pandora’s box”, adding that time is of the essence. The 116 experts are calling for a ban on the use of AI in managing weaponry. “Once developed, they will permit armed conflict to be fought at a scale greater than ever, and at timescales faster than humans can comprehend,” the letter says. BBC news, August 21

Ministers must act on white goods fire risk
More people will die from fires started by faulty white goods if ministers do not act to implement safety guidelines, the London Fire Brigade, the city’s mayor, and safety groups have warned. In a letter to Prime Minister Theresa May, they say some fridges and freezers are being sold with a flammable plastic backing. People continue to use products that are subject to recalls, it adds. The warning comes a year after a tower block fire in west London, started by a faulty tumble dryer. BBC news, August 21

Lost local newspapers undermine democracy
The decline of local newspapers is “undermining democracy” and is being quickened by some councils producing their own “news” publications, the London Assembly said. While the number of publications in the capital was relatively “resilient”, this masked a marked decline in quality as falling readership and ad revenues force publishers to cut resources, the London Assembly economy committee said in a report to be published on Monday. The woes afflicting local papers come at the same time as the government hands more powers to local councils through plans to give them more control over £25bn a year in business rates revenue. Financial Times, August 21

South Korea’s thirst for craft beer helps food and drink exports top £10bn
Soaring demand for British craft beers in South Korea helped UK food and drink exports top £10bn in the first six months of 2017, the best first half figures ever. Ireland, France and the US are the top three destinations for British food and drink, but the east Asian country was the fastest growing with export revenues up 77 per cent as beer sales jumped more than 420 per cent year-on-year to £59.3m, according to the Food & Drink Federation industry body. The Guardian, August 18