Policy Paper

Regional Economic Disparities and Development in the UK

This short paper explores the evolution of regional economic disparities in the UK from the 1960s until now. While there have always been economic disparities, more than two thirds of places now are less productive than the national average. Regional differences are discussed in terms of incomes and labour productivity, and I highlight the central role of agglomeration economies. Policymakers should acknowledge that regional disparities are by definition relative, rendering ‘regional development’ meaningless without a politically-agreed benchmark.

Evaluating economic policy ideas recently offered to the Labour party

This policy paper reviews the report ‘Financing Investment’, commissioned by the Shadow Chancellor from GFC Economics and Clearpoint Advisors, and published on 20th June 2018. The authors say that the report ‘should not be taken to represent the views of the Labour Party or the Shadow Chancellor.’  Its evident purpose is to advise the Opposition and perhaps to elicit comments. It is ostensibly about investment and growth: in this, it echoes the concerns of the 1950s and 1960s. It argues that ‘the UK has fallen too far behind in research & development and its commercial applications.

A statement for the rites of spring

Chancellor Phillip Hammond presented the first Spring Statement yesterday. This was not the occasion to expect new fiscal policies or for rabbits out of a hat – we were told that in advance – even the symbolic red budget box was missing. The Chancellor kept to his promise and made this a non-event but in our assessment, he missed the opportunity to address some important long-term challenges facing the economy and public finances such as the pressures from an ageing population and also a shorter-term strategy to neutralise the impact of Brexit.

 

The OBR'S Approach to Forecasting the Impact of Exiting the European Union - A Submission to the Treasury Committee of the UK Parliament

Professor Jagjit S Chadha's written evidence submitted to the Treasury Committee on 29th November 2017 (written evidence can also be found here)

Facing the future: tackling post-Brexit labour and skills shortages

Alongside access to the singlemarket, EU immigration policy is arguably the most important issue facing employers and policymakers resulting from the UK’s decision to leave the European Union. At the time of publication, shortly after the General Election result and with a hung parliament

Treasury Select Committee Inquiry Into The Effectiveness And Impact Of Post-2008 UK Monetary Policy

This is the third in our our new Policy Paper series, written by members of the National Institute of Economic and Social Research to specifically address a public policy issue. These may be evidence submitted to a public or parliamentary enquiry or policy research commissioned by a third party organisation. In all circumstances the NIESR authors have full editorial control of these papers. We will make all policy papers available to the public  whether they have been supported by specific funding as a matter of course. Some papers may be subsequently developed into research papers.

Coordinating Monetary, Fiscal and Financial Policy - A Submission to the Treasury Committee of the UK Parliament

UK monetary policy, following the 2008 recession, was effective at preventing the crisis from having a bigger effect than it otherwise might have done. As a result of experimenting with quantitative easing (an expansion in the Bank’s balance sheet) and qualitative easing (a change in the risk composition of its balance sheet) we learned some important lessons.

Quantitative easing and the independence of the Bank of England

This is the first in our our new Policy Paper series, written by members of the National Institute of Economic and Social Research to specifically address a public policy issue. These may be evidence submitted to a public or parliamentary enquiry or policy research commissioned by a third party organisation. In all circumstances the NIESR authors have full editorial control of these papers. We will make all policy papers available to the public  whether they have been supported by specific funding as a matter of course. Some papers may be subsequently developed into research papers.

Pages