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

Ukraine: what’s the global economic impact of Russia’s invasion?

Russia’s brutal invasion has driven millions into poverty and debilitated – but not quite destroyed – Ukraine’s economy. Meanwhile, sanctions are straining the Russian economy, but they are yet to end a war that has sown financial turmoil and personal hardship in the region and across the globe.

Health, physical & mental

How does the outsourcing of health and social care affect service quality?

Commercial organisations are increasingly being contracted to deliver health and social care in England. The privatisation of these public services is politically sensitive, with many fearing that the profit motive might put patients and service users at risk.

Health, physical & mental

How is the cost of living crisis affecting provision of social care?

Local authorities are facing tough choices about how to meet the growing need for publicly funded social care services. Rising prices and staff shortages will affect the quantity and quality of social care they are able to provide.

Attitudes, media & governance

How do the views of experts and the public differ on big policy questions?

Economics affects all our lives, but it can be hard to understand. Research shows that on certain topics, the opinions of economic experts are different from those held by a representative sample of members of the public. This highlights the need for better communication.

Charities & volunteering

What happens to charitable giving in a recession?

Like households and businesses, charities are facing rising costs. At the same time, many will see demand for their services grow as the economy weakens. While recessions don’t necessarily lead to a fall in donations, the funds available to charities are declining in real terms.

MAGAZINE

Read the latest edition of our magazine here

This week’s Autumn Statement is a clear reminder of the importance of economic policy for the lives and livelihoods of people across the UK. The Festival of Economics, which took place in Bristol last week, explores exactly how, drawing on the insights of scholars, practitioners and the media.

Transport & infrastructure

#economicsfest: How can we build a better future?

Climate change, geopolitical tensions and new technologies are shaping many of the big challenges we face – from sourcing essential materials to building new homes and infrastructure. But they are also a springboard for new ideas and potential solutions for the next generation.

Inequality & poverty

#economicsfest: How can we create an economy that cares for everyone?

Throughout most of history, wealth and power have been held by the few – whether in the form of historical empires or modern-day oligarchs. With healthcare, social care and childcare all stretched, the needs of the many raise pressing questions about this unequal distribution.

Prices & interest rates

#economicsfest: What does food tell us about the economy?

The cost of living crisis has made clear the centrality of food in household budgets and people’s broader wellbeing. The nutritional quality of what we eat, where it’s grown and how much we pay for it are all crucial – not just for human health but the health of the planet.

Energy & climate change

How can home energy efficiency improvements help us reach net zero?

Improving residential energy efficiency can be a cost-effective way to tackle the current energy crisis, increase energy security and mitigate climate change. Significant variations in the efficiency of homes across the country raise the question of how retrofitting should be implemented to maximise impact.

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.

Families & households

How can UK policy-makers make homes more affordable?

Housing in the UK has become seriously unaffordable; the problem is likely to get worse; and younger people are being hit the hardest. Reforms that could be effective in solving the crisis are considered politically infeasible – while popular policies are ineffective or, worse, counterproductive.

Families & households

Does rent control work?

Rising rents in UK cities has brought rent control policies to the forefront of political debate. The Scottish National Party/Scottish Green Party coalition has recently proposed a nationwide system of rent controls, in an attempt to make housing more affordable.

Business, big & small

What would Adam Smith make of modern competition policy?

Modern competition law makes it illegal to be party to a price-fixing agreement – or even to be in the room when such conspiracies are discussed. Adam Smith would probably approve.

All Answers