67 posts categorised "John Hawksworth"

17 July 2018

AI and robots should create as many jobs as they displace in the long run

By John Hawksworth and Yuval Fertig Our latest UK Economic Outlook report projects relatively subdued UK growth over the next couple of years, in part due to the drag on business investment from ongoing uncertainty around Brexit. This will also keep UK house price inflation at modest levels over the...

20 March 2018

London has outpaced other UK regions for 20 years – but will this continue?

By John Hawksworth and George Mason Our latest UK Economic Outlook report projects steady but relatively modest UK GDP growth of around 1.5% in 2018 and 1.6% in 2019. But how will this vary by region? One obvious way to assess this is to look at history. As analysed in...

16 March 2018

Chancellor bides his time as the UK remains in the slow lane of global growth

By John Hawksworth UK economic growth has slowed over the past couple of years, but the latest news has been somewhat more positive on the back of a stronger global economy. The Office for Budget Responsibility (OBR) nudged up its 2018 GDP growth forecast from 1.4% to 1.5% to reflect...

06 February 2018

Will robots really steal our jobs?

By John Hawksworth, Jonathan Gillham and Richard Berriman Automation is nothing new – machines have been replacing human workers at a gradual rate ever since the Industrial Revolution. This happened first in agriculture and skilled crafts like hand weaving, then in mass manufacturing, and in more recent decades in many...

24 November 2017

Chancellor walks a narrow tightrope between fiscal prudence and easing austerity

By John Hawksworth UK economic growth has slowed this year and this more sluggish performance is now projected to continue for some years to come as productivity growth remains disappointing. This has worsened the medium term public finance outlook and reduced the wriggle room available to the Chancellor. He therefore...

11 September 2017

UK makes good progress on fuller working lives – but still scope to improve further

By John Hawksworth New data released by the DWP on 7th September showed that the UK has made good progress on extending working lives, particularly for women. Twenty years ago, the average age at which women exited the workforce was around 60 – now it is 63. The gradual rise...

31 July 2017

What can machine learning add to economics?

By Hugh Dance and John Hawksworth Machine learning and artificial intelligence (AI) are some of the hottest topics around today. On the one hand, AI promises great benefits for productivity and the economy, on the other hand it could also displace some existing jobs at the same time as it...

19 July 2016

Three scenarios for the UK economy after the Brexit vote

By John Hawksworth The vote to leave the EU was a huge political and economic shock. The UK political system seems to have stabilised itself remarkably quickly, with a new Prime Minister and Cabinet in place within three weeks of the referendum. But the economic aftershocks will last longer, since...

24 June 2016

Riding out the storm: the economic implications of Brexit

By John Hawksworth The UK’s decision to leave the EU is the biggest political shock of my lifetime. It has already led to considerable volatility on financial markets and there will be a period of economic and business uncertainty as the details of our exit from the EU are worked...

31 May 2016

The $6.7 trillion prize from universal global internet access

By John Hawksworth The internet has been a big part of everyday life in the UK and other advanced economies for more than 20 years, so it is sobering to realise more than half the global population still does not have access to it. That represents close to 4 million...