We see a gradually improving outlook for most UK regions, but the recovery will be slow and bumpy across the country. Consumer spending will benefit from rising employment and a gradual easing of the recent severe squeeze on real incomes, but households generally remain cautious about spending, as do businesses....
UK consumer price inflation (CPI) for March remained at 2.8% in March, unchanged from February, according to data from the Office for National Statistics, released yesterday. CPI is currently at its highest level since May 2012 and has remained been above the Bank of England's 2% target since November 2009....
Interest rates are to stay at their all time low of 0.5%, as the Bank of England’s Monetary Policy Committee (MPC) voted today against changing interest rates or a further round of quantitative easing (QE). The European Central Bank (ECB) also voted this morning to keep eurozone interest rates unchanged...
Andrew Sentance, our Senior Economic Adviser, says the Chancellor needs to make it possible for the private sector to drive growth in the future.
Global shale oil production could boost global GDP by up to $2.7 trillion by 2035 Shale oil production has the potential to reach up to 12% of global oil production, equivalent to almost 14 million barrels a day This extra supply could push global oil prices down by around 25%-40%...
Higher borrowing offset by an extra £5 billion of spending cuts in 2017/18 The OBR has reduced its forecast for growth in every year, bringing its projections more into line with those of PwC and other forecasters. Slower than expected growth leads to persistently higher public borrowing, but the OBR...
Higher borrowing offset by an extra £5 billion of spending cuts in 2017/18 The OBR has reduced its forecast for growth in every year, bringing its projections more into line with those of PwC and other forecasters. Slower than expected growth leads to persistently higher public borrowing, but the OBR...
Public borrowing looks set to exceed OBR forecasts by around £10 billion this year. Slower than expected trend growth could cause this borrowing gap to widen in later years. Additional current spending cuts or tax rises of around 1% of GDP (£16 billion at today’s values) might be needed to...
When it comes to paying tax, the UK is one of the most competitive regions in the world in which to do business, according to a new report. The latest annual PwC, World Bank and IFC Paying Taxes study reveals that the UK is 16th place in a league table...
A new assessment of how UK economic performance could be measured in large cities, including Cardiff and Swansea shows that the public believes there’s more to life than GDP, with the results suggesting that some of the traditional perceptions of a north – south divide could be outdated. The PwC...
