Latest articles

26 August 2015

How worried should we be about China and the global economy?

By John Hawksworth Recent dramatic events in Chinese stock markets have rippled across global markets and reignited fears of another downward leg to the global financial crisis. But how bad are things really and what does this mean for the UK economy? China has serious challenges to address The Chinese... Read more

22 July 2015

UK recovery continues but challenges ahead on productivity and housing

By John Hawksworth The UK economy grew by 3% in 2014, its strongest performance since 2006 and the highest growth rate in the G7. Both unemployment and inflation fell significantly, adding to the feel good factor. But growth slowed a little in the first quarter of this year as international... Read more

20 July 2015

UK Productivity Plan: Will it deliver?

By Andrew Sentance George Osborne’s Productivity Plan – launched just after the Budget – contains a lot of good ideas and aspirations. But UK political leaders have been very good at talking about how they aim to increase productivity. The more significant question is whether they can deliver the improvements... Read more

10 July 2015

Summer Budget: Less of a spending rollercoaster, but still a lot of pain to come

By John Hawksworth The Chancellor stuck to his pre-election objective of eliminating the budget deficit before the end of this Parliament, but provided more concrete details of how he would achieve this. In particular, he opted for a smoother profile of real spending cuts over the next four years, which... Read more

01 July 2015

What would Grexit mean for the Eurozone and UK economies?

By Andrew Sentance and John Hawksworth The economic and financial situation in Greece has taken a turn for the worse in the past week with the announcement of a Referendum on the bailout terms and conditions, the closure of the banks and the imposition of credit controls. Even before these... Read more

29 June 2015

The economy needs to adapt to an ageing population

By Andrew Sentance The UK and other western economies face the prospect of an ageing population. As the post-war baby boomers grow older, and people live longer, the number of over-65s in the UK is expected to nearly double by 2050. This is often seen as a problem for society,... Read more

24 June 2015

PwC’s new Golden Age Index – 5 things you need to know

By John Hawksworth and Conor Lambe One of the key megatrends affecting the UK and most other developed countries is an ageing population. Harnessing the potential of older workers will therefore become an increasingly important source of competitive advantage for both nations and businesses. To explore how the UK compares... Read more

28 April 2015

Value of online media to consumers understated by £17 billion

By John Hawksworth Statisticians generally measure the size of the economy by GDP, which is an estimate of the total value of goods and services produced at market prices. But, as economists have increasingly recognised[1], there are limitations to GDP. One important aspect of this is that consumers can now... Read more

20 March 2015

Economic view: Light at the end of the austerity tunnel

By John Hawksworth The Chancellor largely stuck to his fiscal plans in the Budget, but the one big change was to end major spending cuts in 2018/19 - a year earlier than set out in the Autumn Statement in December. With the economy performing well, he does now see some... Read more

16 March 2015

Who are the winners and losers from the fall in oil prices?

By Jonathan Gillham and Yong Jing Teow The dramatic decline in oil prices since mid-2014 is having a significant impact on the world economy, despite some modest recovery in prices from their mid-January low point. In our latest UK Economic Outlook report, we used a computable general equilibrium model of... Read more

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