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

Youth violence in England and Wales: what can be done?

Youth violence has high costs – not just for the victims but for their families and communities. Tackling the crisis needs a coordinated approach of the kind deployed in response to the Covid-19 pandemic – one that includes police and the criminal justice system, but with public health at its core.

Audio recordings

Attitudes, media & governance

Live music in the UK: what’s the state of the industry?

Superstar musicians and sold-out arena tours indicate a thriving music business in the UK. But this hides another reality – one of rising costs, administrative barriers post-Brexit, declining earnings and grassroots venues closing. The live music industry is in urgent need of tailored support.

DATA HUB

Hotel prices in the UK

Since 2010, hotel prices in the UK have typically followed seasonal patterns with a relatively stable average—until COVID-19 disrupted the market.

Select a region to see how the price of a 1-night hotel stay has changed.

Tuesday 11 February 2025

Banks & financial markets

What can happen when economic policy-makers lose credibility?

Fears that central banks’ commitment to low inflation is weakening or that a government’s fiscal plans are uncosted, unchecked and unfunded can be highly damaging for households, businesses and the public authorities themselves. A lack of credibility is a disaster for policy-makers.

MAGAZINE

Read the latest edition of our magazine here

Technological advances such as machine learning and big data models can improve our understanding of current economic conditions. Nowcasting models bridge the data gap between statistical releases, helping to identify trends in real time and allowing more accurate and timely policy measures.

Trade & supply chains

Globalisation and backlash: how has world trade evolved over 300 years?

Over the past three centuries, economic nationalism has ebbed and flowed: from the mercantile system that Adam Smith described in 1776 through waves of globalisation, backlash and battles for supremacy.

Productivity & growth

How can the UK revive its ailing productivity?

The UK’s poor productivity limits wage growth and better living standards. But the problem has no quick fixes. To boost productivity, policy-makers must establish and stick to a long-term strategy that includes diverse sectors – from technology and innovation to education, housing and transport.

Business, big & small

Why is the UK film and television sector struggling?

UK film and TV studios are producing blockbuster hits and generating billions in revenue. But changes in the sector – including the rise of streaming, falling ad revenues and episodes of industrial action – pose challenges, with the effects felt most by small independent firms and freelance workers.

Productivity & growth

The UK’s productivity gap: what did it look like twenty years ago?

How to boost UK productivity growth has long been a central concern of economic researchers and policy-makers. A report written twenty years ago highlights the continuing challenges of achieving that ambition, including the key roles of competition, investment, skills, innovation and technology.

Trade & supply chains

Foreign and domestic protectionism: what impact on the British economy?

In the late 19^th century, Britain faced rising protectionism in some of its key export markets. Then, in the early 20^th century, the country itself embraced a protectionist trading agenda. These experiences had long-term consequences for the structure and productivity of the national economy.

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.

Nations, regions & cities

What transport policies could improve the UK’s productivity?

Towns and cities with effective transport within and between them host more productive businesses, which can pay higher wages. But with too few of such places, the UK suffers from low productivity. Making the transport investments we need locally instead of according to national plans would help.

News

Slow growing

Reigniting productivity growth in the UK requires greater investment and better coordination of policy. An effective strategy should address inequalities across the country, as well as considering the institutions, skills and technologies needed to bridge the gap with comparable advanced economies.

Productivity & growth

Twenty-five years of devolution: what progress on productivity and skills?

Northern Ireland has poorer productivity than the other two devolved nations. At a recent event in Belfast, researchers, politicians and policy officials discussed the roles of skills, training, childcare and apprenticeships in boosting the nation’s economic performance.

Trade & supply chains

How might the UK’s relations with China evolve?

The new UK government is pursuing an approach towards China that promotes cooperation but challenge where needed. While increased trade with the world’s second biggest economy may bring benefits, economic opportunities with the European Union and the United States are likely to be greater.

All Answers