What does good growth in every postcode look like? At GGF, we’re pioneering how to measure it, starting with Healey's Budget.
Our first Good Growth Outlook shows 48% of forecast GDP growth will reach incomes, up from 34% last Budget.
🧵🧵
Every discussion of cars and driving on here assumes that driving is some weird behaviour that needs to be fixed when it is just the best way for the vast majority of people to get around and always will be.
We're delighted to be a finalist for Think Tank of the Year at @SmartThinktanks Awards!
In our second year, we've published exciting research from welfare and water, to security and student loans - and got the govt talking about good growth.
Congrats to all brilliant nominees!
Had great fun putting this together with @GoodGrowthFdn, a new tool to track growth and how well it translates into higher living standards 👇
More to come...
🔵 Good growth is about strengthening the link between growth and people's incomes.
We’ve launched our Good Growth Outlook, measuring how this is working and how this week's Budget will affect it.
NEW: GGF's first MRP shows Labour as the largest party, but short of a majority
🌹 Labour - 280 seats (27%)
➡️ Reform UK - 130 (24)
🌳 Conservatives - 116 (21%)
🔶 Lib Dem - 62 (10%)
⚫️ SNP 26, Green 6, Plaid Cymru 8 (15% total)
Link to full results below 👇
To those who think this could raise prices, it misses how competitive markets work.
The key is that firms respond to the demand they face, not simply knowledge of competitors’ prices (they already have substantial visibility of those prices). What changes is the behaviour of drivers, lower search costs make them more likely to switch to cheaper providers. A provider that raises its price risks losing the demand it has won by being cheaper, while firms offering lower prices are rewarded with more customers. That strengthens competition and puts downward pressure on prices.
Market efficiency is good for prices, as @KaneEmerson showed above
To those who think this could raise prices, it misses how competitive markets work.
The key is that firms respond to the demand they face, not simply knowledge of competitors’ prices (they already have substantial visibility of those prices). What changes is the behaviour of drivers, lower search costs make them more likely to switch to cheaper providers. A provider that raises its price risks losing the demand it has won by being cheaper, while firms offering lower prices are rewarded with more customers. That strengthens competition and puts downward pressure on prices.
Market efficiency is good for prices, as @KaneEmerson showed above
Exactly! Just look at the variance here in Leicester 👇
Anyone at £1.80 will now be under more pressure to cut prices. Smart measure to reduce costs by making markets better, not worse!
Research by economists at NYU found that compulsory petrol price transparency in Germany reduced petrol prices by around 3% and diesel prices by 2%.
Very sensible pro-consumer policy here to put pressure on retailers to compete!
Our movement is one of radical optimism.
Not seeing the world just as it is, but how it could be.
Cait Prowle delivers our Sororal Greetings at Labour Party Conference.
After years of cross-party inaction, Burnham deserves huge credit for scrapping the triple lock just 10 weeks into his premiership.
The fairest and most fiscally responsible choice.
I'm absolutely delighted to see @FortuneJF appointed General Secretary of the Labour Party. Joe has the passion, experience and ideas to get the Party where it needs to be - I'm so excited to see how he takes us forward
Almost as if there are other factors contributing to high gilt yields other than just “know-nothing socialists” + “tax-and-spendthrift Labour MPs” + “things backbenchers say on Sky News” 🤔