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Edmund Conway

Sir Mervyn's smackdown for Lord Turner

An interesting speech from the Bank of England Governor tonight – including, for the first time in a long while, a suggestion that the economy might well be starting to bounce back. But what most stands out from Sir Mervyn King’s speech in Cardiff was a pretty direct slap-down to

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[https://i0.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/depositetc.jpg?ssl=1] The economic squeeze in a nutshell: before 2008 savings rates were well above inflation. Since then the reverse has been true

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[https://i1.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/NNIperhead.jpg?ssl=1] Staggering chart from ONS shows collapse in wealth this recession compared with previous slumps

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[https://i0.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/realincomeperhead.jpg?ssl=1] UK has leapfrogged Belgium in terms of disposable income per head – but is still shy of France, Austria and Germany.

Is there a North-South divide in unemployment?

Is there a North-South divide in unemployment?

There’s no doubt there is a serious inequality between economic experience in different parts of the UK. This is manifesting itself in various different ways – as we’ll explore in a forthcoming series of pieces on Sky News. However, the recent improvement in unemployment has been felt in almost

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[https://i0.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/financingneeds.jpg?ssl=1] By next year, the US will need to issue more debt (as a % of GDP) than Italy, Greece and, for that matter, any country save for Japan. (IMF figs)

OBR: so far, we're less reliable than the Treasury

OBR: so far, we're less reliable than the Treasury

When the incoming coalition Government established the Office for Budget Responsibility back in 2010, there were many in the UK economic cosmos who breathed a sigh of relief. Time and time again in the preceding years, the Treasury missed its economic and fiscal forecasts; Gordon Brown repeatedly borrowed more than