Blog: August 2019
When visiting my sister in Rotterdam, I saw countless vessels entering and leaving the harbour, carrying goods of all kinds – from wine to cloth to mobile phones. Part of that trade is directly related to the Dutch economy, another part is distributed across the old continent or will set sail for the new world. But what part exactly?
Last week, Chancellor Sajid Javid announced a fast-tracked one-year spending round to pin down expenditure limits for government departments in the 2020-21 fiscal year. According to his announcements, the round will account for spending commitments made by the Prime Minister since he came to office while continuing “to keep borrowing under control and debt falling by meeting the existing fiscal rules”
In the first 142 meetings of the Bank of England’s Monetary Policy Committee since it was established in 1997, Bank Rate was changed 44 times. In the 113 meetings since the depths of the global financial crisis, there have only been three changes.
Imagine you are a policymaker tasked with developing an industrial strategy for your region. Where do you look for evidence to understand your specialisation profile? Or perhaps you own a business specialising in the manufacture of medical devices connected to the internet of things, and you’ve just secured funding allowing you to scale-up and relocate.
Freeports are in the news again after the government unveiled plans to create up to ten of them across the UK after Brexit. Freeports are designated areas within the geographic boundary of a country that are subject to simplified customs procedures on imports. Firms importing goods into them can typically defer duties until the goods enter free circulation or are used within the freeport area
Investments in buildings, structures, transport equipment, IT hardware and other machinery make up about half of all capital expenditure by businesses in the UK. These are tangible assets – those which you can see and touch, and usually measure reasonably well. More often than not, they are bought from manufacturing companies or built by construction firms. As a result, the measurement of these investments is reasonably straightforward.