Content Type
Blog Posts
Autumn Statement 2023 - Overview and Economic Implications for London
Posted over 2 years ago
On November 22nd, Chancellor Jeremy Hunt released the 2023 Autumn Statement. The Statement’s release comes amid ongoing uncertainty regarding the date of the next general election, as well as concerns about the UK’s fiscal position, the social and economic consequences of the cost-of-living crisis, and ongoing geopolitical flux. This Statement was meant to present a ‘pro-growth’ agenda centred on tax...
The Local Skills Improvement Plan for London: Helping Londoners get into better jobs by ensuring training matches employer demand
Posted over 2 years ago
Introduction Skills are important for the economy, individuals and employers. For the economy, education and skills are key drivers of economic growth and productivity. For individuals, people with higher level qualifications are more likely to be in work, earn higher wages, and enjoy greater job security. And finally for employers, hiring difficulties and skills gaps could limit the growth and...
London's Economy Today editorial - October 2023
Posted over 2 years ago
UK inflation fails to fall in September Office for National Statistics (ONS) data that was published this month showed inflation didn’t fall in September. Consumer Price Index (CPI) inflation remained at 6.7%, unchanged from August (Figure 1). Most economists had expected a small drop in September’s inflation figure. The ONS noted that the biggest downward contribution to inflation “came from...
How can we measure the number of green jobs?
Posted over 2 years ago
Introduction This blog explores the recently released experimental estimates of green jobs produced for the first time by the Office for National Statistics (ONS) in September 2023. Tracking the number of green jobs is important. The Mayor of London has set a target for London to achieve net zero carbon by 2030. This transition to a greener economy will have...
The impact of ending tax-free shopping on the UK and London economies
Posted over 2 years ago
Introduction It is widely known that the tourism sector contributes considerably to the UK and London economies. Few events illustrate the extent of this impact better than the COVID-19 pandemic, which led to a series of restrictive lock-down measures that impacted severely on domestic and international tourism to London and the rest of the UK. In the UK context, the...
London's Economy Today - editorial September 2023
Posted over 2 years ago
UK GDP falls in July Data published by the Office for National Statistics (ONS) this month showed that the UK economy contracted by 0.5% between June and July (Figure 1). Although a drop had been expected this was more than most economists had been predicting. Despite this monthly drop output was 0.2% higher in the 3 months to July. Figure...
London's Economy Today editorial - August 2023
Posted almost 3 years ago
UK economy grew in the second quarter Data published by the Office for National Statistics (ONS) showed that the UK economy grew marginally in the second quarter of 2023. Output increased by 0.2% between April and June 2023 after increasing by 0.1% in the previous quarter. However, despite this subdued growth UK GDP remains 0.2% below its pre-pandemic level in...
Housing Affordability and Public-Sector Recruitment in London
Posted almost 3 years ago
Recent studies and reports have shed some light into the links between London’s housing affordability crisis and the city’s productivity and economic growth. The argument goes that unaffordable housing is deterring London from attracting the highly-skilled human capital required for the city to retain its competitive economic advantage and global standing. Yet the affordability crisis’ impact goes beyond the issue...
London's Economy Today editorial - July 2023
Posted almost 3 years ago
Inflation eases, but households still under pressure For the first time in almost two years, June’s Consumer Price Index (CPI) inflation release offered some good news in that the actual figure was below what forecasters expected. The cost of living crisis is far from over though, and price increases are still extremely rapid, but the data showed clear signs of...
State of London report - June 2023 update
Posted almost 3 years ago
On Monday the 26th of June, the City Intelligence Unit (CIU) published the third version of its bi-annual State of London report. This report represents arguably the most comprehensive and authoritative evidence base for the economic and social realities experienced by London as a whole and Londoners of different backgrounds across a broad set of outcomes- from housing to health...