Productivity

December 6, 2018

Maxwell’s Consumer: seeking a sustainable world

The recent uprising of the Gilets Jaunes in France is one idiosyncratic national reaction to a global problem. But global problems demand global answers and…

October 8, 2018

Brexit dividend discovered in Sheffield

It is proving increasingly difficult to identify the benefits Brexit might bring. Now a team of economists based in Sheffield have detected an upside in…

June 7, 2018

Capitalism blame game: politician vs expert

So it is agreed, capitalism is broken – for many. Can it be fixed to make it more “inclusive and sustainable”? Yes, says a politician…

May 28, 2018

Italian storms darken European horizon

A new “anti-system” political coalition in Italy is stirring up the relative tranquillity of the Eurozone economy. Banks and businesses are fastening their seatbelts and…

April 30, 2018

How much does your neighbour earn?

John Egan takes a look at the complexities entailed in answering the question. If you would like to know how well off you are, you…

March 7, 2018

Chief-Exec series: The iceberg of intangible capital

From running a business to managing an economy, understanding the value and whereabouts of capital assets is vital. But this isn’t as easy as it…

February 12, 2018

Chief-Exec series: Lifting the lid on UK productivity

Here is a chart that reveals a UK economy in the doldrums and shows where it could be heading. John Egan decribes the challenges this…

November 15, 2017

Analysis: Amazon and the power of capital

On the 150th anniversary of the publication of Karl Marx’s Das Kapital, we add our energy-dissipative view of the interactions of labour and capital in…

October 17, 2017

Productivity, Productivity, Productivity

Today sees the publication of a comprehensive review of the state of the nation and the potential impacts of Brexit in the OECD’s 2017 economic…

August 28, 2017

Analysis: an Apple that just keeps on rising

Imagine Apple Inc. as a quintessentially huge machine fuelled by investment, converting labour into value and, via sales, into revenue and profit. John Egan looks beyond…

1 2 »

BREAKING: “We now need to get on with the job of delivering Brexit,” Theresa May says after winning confidence vote https://t.co/dmIjrRyZNK pic.twitter.com/Sglxxc6vJz

— Bloomberg Brexit (@Brexit) 12 December 2018

Theresa May wins vote of confidence
Theresa May has survived an attempted coup by Eurosceptic Conservative MPs, but she travels to Brussels on Thursday to try to save her Brexit deal with her authority shaken and her party bitterly divided. Mrs May won a vote of confidence by 200 to 117 votes after a day of intense backroom lobbying at Westminster, during which she warned her warring MPs that a change of prime minister would “put our country’s future at risk”. However her victory came at a heavy price; Mrs May was forced to tell MPs that she would not lead the Tories into the next election, while the confidence vote brought into the public glare the scale of the enmity now felt within her party. The prime minister, speaking after the vote, said it was time to “get on with Brexit” and for the country to come together. “That must start at Westminster, with politicians of all sides coming together and acting in the national interest,” she said. Financial Times, December 13

PM looks to Brussels to defuse backstop row
Theresa May is heading to Brussels seeking legal assurances over the Northern Ireland backstop, as she tries to strengthen non-binding EU language suggesting that the measure would only ever apply for “a short period”. Fresh from surviving a leadership challenge in which more than a third of Conservative MPs voted against her, the British prime minister will try to toughen up a planned statement by EU leaders at their Brexit summit on Thursday. Draft conclusions from the summit suggest the EU is ready to provide “assurances” that the backstop to prevent a hard border in the island is an insurance policy that “does not represent a desirable outcome” for the EU and would only last for “as long as is strictly necessary”. But EU officials have resisted the UK’s requests for statements to be given full legal force, and have insisted the bloc cannot in any way “contradict” or change the meaning of Britain’s withdrawal treaty. Financial Times, December 13

May to join EU summit after surviving vote
Theresa May is heading to Brussels for an EU summit, the morning after surviving a vote of confidence. The prime minister is seeking legally binding pledges from EU leaders on the “backstop” – the plan to avoid a return to a manned Northern Ireland border. Critics say the plan will keep the UK tied to EU rules indefinitely and unable to strike trade deals. The EU will not renegotiate the deal but may be willing to give greater assurances on its temporary nature. It seems unlikely that would win over enough support for her Brexit plan to have a realistic chance of getting through the House of Commons, with tensions heightened in the Conservative Party in the wake of Wednesday evening’s vote. BBC news, December 13

UK property market at weakest since 2012: Rics
Brexit is battering the UK property market, pushing it to its weakest level in more than six years, with almost half of surveyors reporting that sellers and buyers are sitting tight because of political uncertainty. The Royal Institution of Chartered Surveyors said its monthly indicators for demand, supply and prices fell to multiyear lows in November. The number of people looking for a new home fell again, with many surveyors attributing this to Brexit uncertainty. The net balance of -21 per cent, down from -15 per cent in October, was the lowest since September 2017. Weaker demand dragged down property prices. The price balance slipped to -11 per cent in November from -10 per cent in October, marking the lowest reading since September 2012. The Guardian, December 13

Rolls-Royce has whale of an idea for Brexit
Rolls-Royce is in talks with Airbus to use the aircraft maker’s whale-shaped Beluga transporter planes to deliver its engines to final assembly sites on the Continent in the event of a disorderly Brexit. In preparation for March, when Britain is expected to leave the EU, Rolls-Royce has been storing up aeroengine parts so that it has enough in the UK to ensure that its plant in Derby is able to make 60 engines a month. The FTSE 100 engineer has also spoken to Airbus about using the Beluga to transport engines to France and Germany. The aircraft could allow Rolls to avoid any disruption at sea ports after a no-deal Brexit. The Times, December 13

Prepare for an Irish yellow vest movement, TDs warn Varadkar
The government has been warned to “take note” of the wave of protests in France as hard-left politicians suggested that similar action should be organised in Ireland. Ruth Coppinger and Richard Boyd Barrett, speaking in the Dáil yesterday, urged unions and civil society groups to follow the “inspirational revolt”. President Macron, of France, announced a €10 billion package of measures, including wage and welfare increases, to gain some breathing space from the month-long protests. Mr Boyd Barrett described the upheaval in France as a welcome “counter blast” to the rise of extreme forms of nationalism and the far right taking place all over Europe. The Times, December 13

Pope Francis removes Australian cardinal from inner circle
Pope Francis has removed Australia’s most senior Catholic, Cardinal George Pell, from his inner circle in a restructure of his Council of Cardinals. Pell’s position as the financial controller of the Vatican makes him the third most powerful person in the Vatican. He is facing prosecution in Australia for historical sexual offences and has taken leave from the position. Pell has strenuously denied the allegations. The removal of Pell, 77, from the council does not necessarily affect his treasury position, which he technically still holds, and a Vatican spokesman would not comment further. The Guardian, December 13

Three D’s at A-level – 80% got uni places
Among university applicants who got three D grades at A-level, 80 per cent were successful in getting places in 2018, according to admissions figures. This was a year with fewer 18-year-olds, which saw universities competing to attract students. The Ucas admissions data shows Northern Ireland had the highest entry rate among the UK’s four education systems. But London was by far the highest region for university entry – a third more than elsewhere in England. The Ucas annual report on university admissions shows this was a particularly good year for applicants. BBC news, December 13