@Dr_KatyJones and I have a new book out today: Idleness. We have far too many people stuck in low-paid work with little chance of progression. Why is this and what can we do about it? https://t.co/ksp7p0SUyn 📚 #idleness /2
1/ Partnering with @changing_r /w support from @CPAGUK, our new report considers priorities for change for the upcoming child poverty strategy, informed by parents with experience on low incomes. https://t.co/u0BJ29Azsg
‘Its easier to dismiss them as spineless snowflakes than actually take seriously the fact that people are really suffering’.
@BenKentish speaks to Professor @KumarAshwin about the pandemic’s impact on young people, as the number of benefit claims due to sickness rises.
Reporting about gilt market vibes suggests that there has been an inflation/interest rate surprise in yesterday's budget. Likely driven by the OBR's slightly surprising projections.
But there really shouldn't have been much news on this, as @ChrisGiles_ sensibly explains.
Important point from @carsjung: estimates of growth effects of public investment from @OBR_UK don't include second-order effects such as increased business confidence or labour supply that general equilibrium modelling might show and so are likely to be on the low side
The @OBR_UK today projected only modest GDP growth effects of higher public investment. They're still projecting much lower GDP returns than standard approaches from the literature (see Ramey 2020), because they're not modelling general equilbirum effects. Could be 2x higher.
It's impossible for tax-raising measures to be completely pain-free, but there are a collection of measures that focus on the better off and the main revenue-raising measure - employers NI contributions - raises money in proportion to earnings so more comes from the highest-paid
Really great that @RachelReevesMP has resolved to target net financial liabilities in her fiscal rules, as recommeded by us. It was our 2nd best option, after net worth.
This is an amazing innovation, making our fiscal framework more honest, but also more growth friendly.
Interested in incomes, poverty, social security and tax? @MMUPERU at @ManMetUni is recruiting a Research Associate to maintain and develop a tax-benefit microsimulation model used by several major think-tanks: https://t.co/ewGJogJVv5
The World Bank's data portal for poverty, inequality, and growth data has gotten much better!
Their replacement for the older PovcalNet is called PIP — the 'Poverty and Inequality Platform'.
If you are interested in poverty it is worth having a good look around. They just updated their data.
→ https://t.co/IBuuVPwyOE
NEW: the UK has had the lowest investment in the G7 in 24 out of the last 30 years. Public investment - eg core infrastructure - can boost productivity across the economy, but it's set to fall steeply over the next five years. To boost economic growth it needs to rise, not fall.
Charlotte Hennessy’s dad Jimmy was killed at Hillsborough when she was just six-years-old. She says today’s announcement about a Hillsborough Law is the best way to honour him and all of the 97 Liverpool fans who died in the disaster.
https://t.co/MaDFizcsXk
1/7 Following over a decade of languishing living standards and rising food bank use, government plans for a new child poverty strategy are hugely welcome.
But what policies could be in scope and how should they prioritise?
A new blog from me:
https://t.co/kTmD5cs2gY
Yes, the NHS has been beaten by austerity, the pandemic and misguided reform. But the fundamental model is not the problem. A move to an insurance based system will not solve any of our problems. The answer is in prevention.
📺 @KumarAshwin speaking to @Jacob_Rees_Mogg ⤵️
On @GBNEWS tonight with @Jacob_Rees_Mogg discussing how inadequate spending - particularly 2011-18, lack of capital investment and insufficient focus on primary care & prevention have led to current problems in the NHS
'Because the NHS was suffering in terms of shortages of day to day running costs, we weren't spending money on the technology we need in hospitals'
Professor Ashwin Kumar says a funding squeeze in the early years of the Conservative government left the NHS struggling later.
🧵 (long)
Amber Nicole Thurman is dead.
Amber was the mother of a 6 yr old boy who took legally obtained abortion pills and developed a rare complication when her uterus did not expel all the fetal tissue from her body. She tried to get through it, but began to bleed 1/
A result of 2 years of consultation & evidence-gathering on employment support, the report sets out proposals for once-in-a-generation reform to boost growth & raise living standards. It makes detailed proposals to raise participation in the labour force & boost productivity. 2/3
IES & @finan_fairness have launched the final report for the Commission on the Future of Employment Support at a Westminster event this morning. Minister for Employment @Alison_McGovern, delivered the keynote speech. Read the report: https://t.co/ELmL7Pp8mx 1/3