Blog: January 2018
A fog of uncertainty has hung over the British economy since the summer of 2016. The EU referendum, snap general election and hung parliament coincided with spikes in quantitative measures of uncertainty. The Bank of England, HM Treasury and the International Monetary Fund argue that this uncertainty will not pass without economic consequences.
The NHS is in financial turmoil. The country in stricken with Aussie flu, A&E units up and down the country are being swamped. There is an acute shortage of hospital beds and the 4hr wait is being missed by up to a quarter of A&E units. Solutions are desperately being sought. A National Inquiry is being called for and many are suggesting that a hypothecated tax, earmarked for NHS spending, is the way forward. Such a tax is very unlikely to work.
Three senior members of the Institute were asked by the FT for their views on the year ahead. In the interests on transparency, we publish those replies. The answers given are from the Director, Professor Jagjit Chadha (JC), the Director of Macroeconomic Modelling and Forecasts, Dr. Garry Young (GY), and the Associate Research Director for Trade, Investment and Productivity, Dr Monique Ebell (ME).