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David Smith’s EconomicsUK

EconomicsUK is the personal Original of David Smith, the Economics Editor of The Sunday Times, London. His easy to understand writing and clearly defined causes and consequences makes this an accessible blog for beginners.

The long and the short of Johnson’s Brexit deal

The long and the short of Johnson's Brexit deal Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. The shift from extreme pessimism to optimism in recent days over an early agreement on the terms of Brexit was as sudden as it was welcome. Sterling, that reliable Brexit barometer, led the celebrations, with tis best two-day performance in a decade, though I note it is only...

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This deal isn’t flying, but no-deal still has to be grounded

This deal isn't flying, but no-deal still has to be grounded Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. By now you will be pretty fed up of hearing about the Irish backstop, and I do not intend to prolong the agony for too long today. Boris Johnson promised to get rid of it but, as was always likely, has instead suggested a revised version of it. The government’s...

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Corbyn’s not popular, but many of his ideas are

Corbyn's not popular, but many of his ideas are Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Boris Johnson and Jeremy Corbyn are, on the face of it, about as far apart as it is possible for two political leaders to be. There is no love lost, and very little common ground. Or perhaps not. People say to me that we have prime minister and worst opposition leader,...

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Let’s get fiscal, but avoid the mistakes of the past

Let's get fiscal, but avoid the mistakes of the past Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. This has been a busy month for central banks. A few days ago America’s Federal Reserve cut official interest rates by a quarter of a point, citing weaker business investment and exports. A few days before that, the European Central Bank (ECB) announced what its chief...

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Some good news – but we’re not out of the woods yet

Some good news - but we're not out of the woods yet Posted by David Smith at 09:00 AMCategory: My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Many things might be going wrong for the government at the moment but, so far at least, it appears to be being spared the prospect of an immediate recession. We will not know for sure until November whether the economy has avoided two successive quarters of falling gross domestic product (GDP), the...

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The record pay squeeze is over – but maybe not for long

The record pay squeeze is over - but maybe not for long Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Plenty of crazy and alarming things are happening in British politics but, leaving those to others for now, and turning to a slightly happier story, we are on the cusp of a rather different and significant moment, and it has been a long time coming. Within the next...

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Scrapping HS2 would derail Javid’s infrastructure plan

Scrapping HS2 would derail Javid's infrastructure plan Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Sajid Javid is a man with a plan, and he is not keeping it secret. The chancellor may only have been in office for a month, but a month can be a very long time in politics, and he has already made clear when asked that his ambition is to undertake a big increase in...

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The top 1% pay a lot of tax – will they stay or go?

The top 1% pay a lot of tax - will they stay or go? Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. Today I want to lift my sights high. So high, in fact, that it takes me to the very top of the income distribution. These are the people who earn many times the average salary, are mainly not Premier League footballers (though they clearly do), and who are endlessly...

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This sterling slide has logic on its side

This sterling slide has logic on its side Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. The new government is less than a fortnight old but already we have seen a flurry of announcements and, it seems, cash pouring out of the Treasury as if there is no tomorrow. So, on your behalf, I have been trying to make some sense of this, by reading Boris Johnson’s speeches and...

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Tricky times call for a lucky chancellor

Tricky times call for a lucky chancellor Posted by David Smith at 09:00 AMCategory: David Smith's other articles My regular column is available to subscribers on www.thesundaytimes.co.uk This is an excerpt. There are three ways of viewing Boris Johnson’s first few days as prime minister, and in particular his “fire and hire” approach to his new cabinet. Apart from demonstrating that no job is as insecure as that of a cabinet minister and their special advisers, it was curious man and...

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