Economics Observatory | Questions and answers about coronavirus and the UK economy

What can sport learn from economics and economics from sport?

At first glance, it may seem that economics and sport are of little relevance to one another. But economic analysis can inform big sporting decisions from signing players to specific plays to performance assessment; while sport can shed light on fundamental economic questions.

1-3 October 2024 Bristol

Nations, regions & cities

Devolution at 25: how has productivity changed in the devolved nations?

Productivity performance has long varied across the nations of the UK – and it has continued to do so since the devolved administrations were established a quarter of a century ago. Devolution allows for tailored policies to boost productivity, focused on human capital, innovation and investment.

DATA HUB

UK business demographics

Yesterday, the ONS published new data on business demography in the UK, revealing that the construction industry saw the most growth in 2023 with 4,560 new active enterprises.

Close behind, the health industry experienced notable expansion, with business births outpacing closures by 4,335.

Despite 44,050 new wholesale trade and retail enterprises, the industry as a whole contracted with a net decrease of 3,515. The most significant decline was observed in the transport and storage sector, with a net total of 10,720 firms no longer active.

Public spending, taxes & debt

What would be the effects of abolishing or reforming inheritance tax?

Inheritance taxes aim to raise revenue and reduce inequality of opportunity arising from differences in parental wealth. But current UK policy has little impact on social mobility. Scrapping the tax would benefit the wealthiest, while reforms could reduce unfairness and negative economic effects.

MAGAZINE

Read the latest edition of our magazine here

The late Daniel Kahneman was awarded the economics Nobel Prize in 2002 for influential research on how people make decisions. His work on wellbeing has also had wide impact, including on what official statistics measure and evaluation of the effects of policies on people’s life satisfaction.

Schools, universities & training

UK higher education finance: what’s the problem and what can be done?

The tripling of tuition fees in 2012 put universities in a strong financial position. But since then, fees – and the maintenance loans that support students – haven’t kept up with inflation. Now, students face real hardship and some universities seem to be in deep financial difficulties.

Transport & infrastructure

Economics of airports: what lessons from the airport economist?

Aviation is a truly global industry, with airlines competing at home and abroad on price and quality, but also subject to a complicated mixture of domestic and international regulations. A country’s airports constitute a big part of the economy, contributing to trade, tourism, education and more.

Transport & infrastructure

Visitor caps: what potential impact on the world tourism industry?

Caps on the numbers of visitors allowed at certain destinations aim to relieve pressure on hotspots of overtourism. Their introduction presents an opportunity for other places to attract more tourists and students, boost their economies and promote a more sustainable and equitable tourism industry.

Jobs, work, pay & benefits

What do we know about labour market power in the UK?

The ability of powerful firms to set pay and other working conditions is a growing concern for economic researchers and policy-makers. Much of the evidence is from the United States, where labour market institutions and policies are very different. Hence the need for emerging UK-specific analysis.

Jobs, work, pay & benefits

Good work: what do we know about the quality of UK jobs?

The quality of jobs in the UK is generally good: by many measures, it has even improved over the last five years. But there are a number of concerning trends that could lead to more mediocre jobs, and away from enriching work and employees who are happy and fulfilled.

Energy & climate change

Climate change: what are the economic impacts and potential solutions?

To stand a chance of meeting the net-zero ambitions of the Paris Agreement, a multi-pronged approach to curbing climate change is needed that permeates all sectors of our society and economy. Done well, this comprehensive approach will ensure a just transition.

Energy & climate change

Missing capitals: how should we think about the modern wealth of nations?

Conceptions of wealth tend to focus on financial assets. But prosperity also depends on natural capital, human capital, social capital and intangible capital.

Energy & climate change

What are the economic effects of extreme weather caused by climate change?

Human-made climate change is increasing the likelihood or intensity of extreme weather events. The costs of these disasters – and their effects on equality – are being underestimated, and greater urgency is required to implement mitigation policies.

Energy & climate change

How should a national energy efficiency policy be targeted ahead of winter?

Rising gas and electricity prices have affected millions of UK households and increased rates of energy poverty. Energy efficiency policies should make a priority of support for the most vulnerable, particularly low-income households and those with disabilities or long-term illness.

Energy & climate change

Frontline stories: protecting biodiversity

Ahead of COP26, the climate change summit in Glasgow in November 2021, Richard Davies talked to Dr Jane Goodall DBE, one of the world’s leading environmentalists, founder of the Jane Goodall Institute and a United Nations Messenger of Peace.

All Answers