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

Can UK trade unions recover their post-war power?

Recent strikes and the pay offers that followed have led to a renewed focus on what trade unions can achieve. There has been much invocation of their post-war influence. But recovering that power would require significant changes in UK politics, the law and how unions themselves work.

Data Hub

Live and interactive charts and visualisations, making sense of the latest numbers

Nations, regions & cities

What are some of the big policy challenges facing Scotland’s new first minister?

On Monday, Scotland’s new first minister will be announced. Nicola Sturgeon’s successor faces a number of economic challenges related to growth, an ageing population, regional inequality and the transition to net zero.

Pensions, savings & investment

What are the implications of removing the pensions lifetime allowance?

The UK’s Chancellor of the Exchequer has announced the abolition of the lifetime allowance on what can be drawn from private pensions. A higher limit would have been a more desirable measure, both for deterring the use of pensions for tax avoidance and for reducing incentives for early retirement.

Attitudes, media & governance

Who do polls suggest will be the next first minister of Scotland?

The Scottish National Party will soon announce its new leader. Polls suggest that party members are choosing between one candidate with the support of most SNP parliamentarians and one who is more popular with the public. During the campaign, discussions of Scottish independence have been limited.

Attitudes, media & governance

How has national wellbeing evolved over time?

Survey data on national wellbeing only go back a few decades, but text analysis makes it possible to observe changes over longer periods of time. The results reveal the big influences on peaks and troughs in human happiness: income, health, aspirations and avoidance of major conflicts.

Health, physical & mental

How might the cost of living crisis affect people's health?

Difficult decisions about what to eat and how to stay warm will have knock-on effects on people’s physical and mental health. The outcomes will increase demand on an already strained NHS.

Attitudes, media & governance

What is the role of government in creating a happier world?

The latest edition of the World Happiness Report offers new insights into wellbeing across the globe. The past year has brought a number of fresh challenges, but many people are still able to find happiness in their lives – and governments can play a role in promoting this.

News

The boring budget

Jeremy Hunt delivered his Spring Budget this week. The announcement took place against a backdrop of financial market nervousness, the continuing conflict in Ukraine and concerns about the long-run effects of Covid-19. Although this latest fiscal event appears to represent a return to sensible policy, many significant economic challenges remain.

Banks & financial markets

Why did Silicon Valley Bank fail?

The collapse of Silicon Valley Bank is the largest bank failure in the United States since the global financial crisis. The bank’s vulnerability was the result of having a high proportion of uninsured deposits and a large proportion of deposits invested in hold-to-maturity securities.

Public spending, taxes & debt

Does history suggest that wealth taxes help to improve the public finances?

Any proposal to tax wealth has to be financially worthwhile and politically practicable. History suggests that the financial clout of proposed wealth taxes is often negotiated away and that their political appeal depends on a sufficiently strong sense of inequality.

Data stories

What do the latest UK GDP data tell us about the economy in 2023?

New data show that the UK economy grew slightly in January. These figures mean that the country’s economic performance in 2023 might not be quite as weak as previously expected, although output is still likely to remain below pre-pandemic levels over the coming months.

Health, physical & mental

How has Taiwan navigated the pandemic?

Taiwan has fared better than many other countries during the Covid-19 crisis. Political leadership, early action, a national plan, strong information and communications technology infrastructure and a cooperative public have all contributed.

Trade & supply chains

How has Brexit affected business investment in the UK?

Leaving the European Union has undoubtedly had effects on the UK economy. The most obvious ones will be on international trade. But Brexit might also have an impact on business investment, which is crucial for the economy to grow.

Data stories

How is the UK’s night-time economy coping?

Bars, restaurants, theatres and clubs were hit hard during the pandemic. The need to curb infections meant that these venues were the first to close and the last to re-open, often with limited capacity. Rising energy prices and the cost of living crisis pose new threats to the sector.

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