Prospects for the UK Economy

2010 ◽  
Vol 214 ◽  
pp. F41-F60
Author(s):  
Simon Kirby ◽  
Ray Barrell ◽  
Rachel Whitworth
Keyword(s):  
Public Sector ◽  
Output Growth ◽  
Gdp Growth ◽  
Fiscal Consolidation ◽  
Balance Sheets ◽  
Strong Growth ◽  
The Public ◽  
The Third ◽  
The Uk ◽  
Negative Output

The UK economy has now enjoyed four consecutive quarters of expansion. Indeed GDP growth reached 1.2 per cent in the second quarter of this year, the fastest rate of growth in over a decade. The National Institute's estimate of monthly GDP suggests that the economy continued to expand in the third quarter of this year, but at a more modest pace of 0.5 per cent (see figure 1). Such a slowdown should not have come as a surprise. Persistently strong growth is unlikely in an economy where household balance sheets are still undergoing repair, funding channels to business remain impaired and the public sector is embarking on a significant programme of fiscal consolidation. However, we continue to think the chances of negative output growth in 2011 are about one in five and hence a double dip recession is unlikely.

scholarly journals Economic cost of congenital CMV in the UK

2018 ◽  
Vol 104 (6) ◽  
pp. 559-563 ◽  
Author(s):  
Jenny Retzler ◽  
Nick Hex ◽  
Chris Bartlett ◽  
Anne Webb ◽  
Sharon Wood ◽  
...  
Keyword(s):  
Public Sector ◽  
Vaccine Development ◽  
Cost Model ◽  
Financial Burden ◽  
Secondary Data ◽  
Economic Cost ◽  
Future Research ◽  
The Public ◽  
The Uk

ObjectiveCongenital cytomegalovirus (cCMV) is the most common infectious cause of congenital disability. It can disrupt neurodevelopment, causing lifelong impairments including sensorineural hearing loss and developmental delay. This study aimed, for the first time, to estimate the annual economic burden of managing cCMV and its sequelae in the UK.DesignThe study collated available secondary data to develop a static cost model.SettingThe model aimed to estimate costs of cCMV in the UK for the year 2016.PatientsIndividuals of all ages with cCMV.Main outcome measuresDirect (incurred by the public sector) and indirect (incurred personally or by society) costs associated with management of cCMV and its sequelae.ResultsThe model estimated that the total cost of cCMV to the UK in 2016 was £732 million (lower and upper estimates were between £495 and £942 million). Approximately 40% of the costs were directly incurred by the public sector, with the remaining 60% being indirect costs, including lost productivity. Long-term impairments caused by the virus had a higher financial burden than the acute management of cCMV.ConclusionsThe cost of cCMV is substantial, predominantly stemming from long-term impairments. Costs should be compared against investment in educational strategies and vaccine development programmes that aim to prevent virus transmission, as well as the value of introducing universal screening for cCMV to both increase detection of children who would benefit from treatment, and to build a more robust evidence base for future research.

scholarly journals The Living Wage: An Economic Geography Based Explanation for a Policy for Equality

2015 ◽  
Vol 15 (4) ◽  
pp. 589-605 ◽  
Author(s):  
Carlo J. Morelli ◽  
Paul T. Seaman
Keyword(s):  
Public Sector ◽  
Labour Force ◽  
Living Wage ◽  
Labour Force Survey ◽  
The Public ◽  
Household Inequality ◽  
The Uk ◽  
Wage Demand ◽  
The Impact ◽  
Low Pay

This article examines the theoretical underpinning of living wage campaigns. The article uses evidence, derived from the UK Quarterly Labour Force Survey from 2005 to 2008, to examine the extent to which a living wage will address low pay within the labour force. We highlight the greater incidence of low pay within the private sector and then focus upon the public sector where the living wage demand has had most impact. The article builds upon the results from the Quarterly Labour Force Survey with analysis of the British Household Panel Survey in 2007 in order to examine the impact that the introduction of a living wage, within the public sector, would have in reducing household inequality.

scholarly journals Analysis of Budget Imbalance Dynamics in Kenya

2018 ◽  
Vol 4 (4) ◽  
pp. 352
Author(s):  
Alex Oguso ◽  
Francis M. Mwega ◽  
Nelson H. Wawire ◽  
Purna Samanta
Keyword(s):  
Public Sector ◽  
Time Series Data ◽  
Supply And Demand ◽  
Series Data ◽  
Fiscal Consolidation ◽  
The Public ◽  
Distributed Lag ◽  
Seeking Behavior ◽  
Development Goals ◽  
The Government

<p><em>Kenya needs substantial and sustained fiscal consolidation to create fiscal space for financing the government’s election pledges, the Vision 2030 development projects, and sustainable development goals. However, the government has found it hard to sustain its fiscal consolidation attempts. This study investigates the fiscal consolidation constraints that act through the budget imbalance dynamics in Kenya using the </em><em>Olivera-Tanzi effect approach.</em><em> The study covers the period 2000-2015</em><em> using time series data and employs three </em><em>Auto-regressive Distributed Lag (ARDL) error correction models</em><em> in the analysis. The study showed that a </em><em>rise in the general price levels in the economy, adjustment of minimum wages, rise</em><em> in perceived levels of corruption in the public sector and the political budget cycles (occurrence of a general election) worsen the budget imbalances (deficits) thus </em><em>constrain fiscal consolidation efforts in Kenya. The study also demonstrated that </em><em>budget imbalance dynamics in Kenya could partly be explained by the Olivera-Tanzi proposition. </em><em>The study rec</em><em>ommends measures to reduce the fiscal imbalance gap in Kenya, which include controlling both supply and demand side inflationary pressure and dealing with rent seeking behavior in the public sector.</em></p>

The World Economy

1997 ◽  
Vol 159 ◽  
pp. 28-56
Author(s):  
Julian Morgan ◽  
Nigel Pain ◽  
Florence Hubert
Keyword(s):  
World Trade ◽  
World Economy ◽  
Fiscal Consolidation ◽  
The Third ◽  
The North ◽  
External Demand ◽  
The Us ◽  
The World ◽  
World Economic ◽  
The Uk

There are now widespread signs that activity in the world economy has begun to recover steadily from the pause in growth apparent at the beginning of 1996. Output rose by 0.6 per cent in the North American economies in the third quarter of last year and by 0.8 per cent in Europe. Business and consumer sentiment has improved gradually in recent months in most of the major economies. We expect world economic growth to pick up further over the course of this year as the contractionary effects from the downturn in world trade and prolonged inventory adjustment come to an end and as the effects from a more relaxed monetary stance begin to outweigh those from ongoing fiscal consolidation. Recent currency movements should help to stimulate external demand in Germany, France and Japan, but may act to constrain growth within the UK, Italy and the US. For both this year and 1998 we expect growth of around 2½ per cent per annum in the OECD economies.

Between government unilateralism and corporatist bargaining: public sector pension reforms in the UK and Ireland, 2000s–2010s

2019 ◽  
Vol 20 (2) ◽  
pp. 107-124
Author(s):  
Sung Ho Park
Keyword(s):  
Public Sector ◽  
Welfare Reform ◽  
Ad Hoc ◽  
Welfare States ◽  
Reform Process ◽  
Pension Reforms ◽  
The Public ◽  
Public Sector Unions ◽  
The Common ◽  
The Uk

AbstractStudies on welfare reform in advanced European countries have identified two established paths to welfare retrenchment: government unilateralism and corporatist bargaining. This study explores a more complicated path to welfare reform, wherein governments pursue ‘non-corporatist’ bargaining by actively combining features of unilateralism and negotiation. Such a hybrid case is explained by employing an ‘insider-outsider’ framework for public policy reform. The key argument is that the presence of exclusive insiders complicates the reform process, disqualifying both unilateralism and corporatist bargaining as feasible options for benefit cuts. The author demonstrates the validity of this claim by examining three cases of public sector pension retrenchment in the UK and Ireland during the 2000s and 2010s. Defying the common expectation that benefit cuts in residual welfare states would be promoted with government unilateralism, the public sector pension reforms in the UK and Ireland exhibited more complicated features which combined governments' unilateral initiatives andad hocnegotiations with public sector unions. Future studies may build on this finding to examine hybrid reform cases in a general European context.

Prospects for the UK Economy

2007 ◽  
Vol 202 ◽  
pp. 42-60
Author(s):  
Ehsan Khoman ◽  
Simon Kirby
Keyword(s):  
Economic Growth ◽  
Gdp Growth ◽  
Preliminary Estimate ◽  
The Third ◽  
Rate Of Growth ◽  
The Uk ◽  
Domestic Impact

GDP growth in the second quarter of this year remained robust at a quarterly rate of growth of 0.8 per cent. With revisions to previous quarters, economic growth has been maintained at this rate since the end of 2006. NIESR's monthly estimate of GDP showed this robust growth continuing into the third quarter of this year. The official preliminary estimate confirms the pattern of robust growth continuing into the third quarter of this year (figure 1). In light of this we have revised our forecast for GDP growth this year up from 2.8 per cent to 3.1 per cent. We have revised down our forecast for GDP growth in 2008 from 2.6 to 2.2 per cent. This reflects weaker net trade, with the recent financial turmoil having only a small domestic impact.

scholarly journals The purposes, promises and compromises of extinction accounting in the UK public sector

2018 ◽  
Vol 31 (3) ◽  
pp. 875-899 ◽  
Author(s):  
Kenneth Weir
Keyword(s):  
Public Sector ◽  
Design Methodology ◽  
Environmental Accounting ◽  
Species Loss ◽  
Content Type ◽  
The Public ◽  
Corporate Context ◽  
Trade Offs ◽  
Ecological Criteria ◽  
The Uk

Purpose The purpose of this paper is to explore the state of extinction accounting, and the motivations for its use in the UK public sector. Prior studies are mostly concerned with corporate attempts to account for species, despite studies in related areas calling for examinations of the public sector context. Design/methodology/approach The paper analyses the use of extinction accounting in three separate case organisations, conducting a total of 21 interviews across the three cases. Interviews were conducted with a range of organisational participants each having experience with extinction accounting. Findings Interviews reveal a number of common uses and applications of extinction accounting across the three councils. Practices are used to generate reports on species loss and recovery within each region, and to facilitate planning for species protection and recovery. However, in attempting to use this information, key trade-offs emerge between satisfying economic and ecological criteria, and even trade-offs are created regarding development of protection schemes. This leads to a subversion of extinction accounting. Research limitations/implications Commensurate with prior studies in the corporate context, the study finds the presence of an economic logic impinging upon ecological decision making, suggesting that practices of extinction accounting may be affected by the same acknowledged economic motivations that reside in corporate attempts to account for nature. Originality/value The paper makes an important contribution by evaluating the public sector context of extinction accounting, which is lacking in existing research. The findings relating to the public sector use of species and extinction information also provide a useful context to understand how relatively new social and environmental accounting practices are deployed in organisations, as well as some indication of their effectiveness and limitations.

Metrics, Targets and Performance

2006 ◽  
Vol 197 ◽  
pp. 80-92 ◽  
Author(s):  
Philip Andrew Stevens ◽  
Lucy Stokes ◽  
Mary O'Mahony
Keyword(s):  
Public Sector ◽  
Performance Management ◽  
Performance Indicators ◽  
Acute Hospital ◽  
Performance Management System ◽  
The Public ◽  
Productivity Measure ◽  
And Performance ◽  
The Uk

The setting and use of targets in the public sector has generated a growing amount of interest in the UK. This has occurred at a time when more analysts and policymakers are grasping the nettle of measuring performance in and of the public sector. We outline a typology of performance indicators and a set of desiderata. We compare the outcome of a performance management system — star ratings for acute hospital trusts in England — with a productivity measure analogous to those used in the analysis of the private sector. We find that the two are almost entirely unrelated. Although this may be the case for entirely proper reasons, it does raise questions as to the appropriateness of such indicators of performance, particularly over the long term.

Stagflation in the UK Since 1970: A Model-Based Explanation∗

1986 ◽  
Vol 117 ◽  
pp. 52-69 ◽  
Author(s):  
I.D. Saville ◽  
K.L. Gardiner
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Output Growth ◽  
Strong Growth ◽  
Model Based ◽  
Export Behaviour ◽  
Import And Export ◽  
Domestic Policies ◽  
The Uk

The UK's economic performance, like that in many industrial economies, worsened in the 1970s after about twenty years of relatively stable and strong growth and low inflation. This article investigates to what extent this worsening in performance can be attributed to factors outside the UK's control—to world recession—and how far it was the result of domestic policies. Simulations of the NIESR model suggest that about half of the slackening in output growth can be explained by these two sets of factors. Adverse trends in import and export behaviour appear the major behavioural impediment to faster economic growth.

scholarly journals The compassionate organisation

2015 ◽  
Vol 28 (1) ◽  
pp. 72-83 ◽  
Author(s):  
Poul Erik Flyvholm Jørgensen ◽  
Maria Isaksson
Keyword(s):  
Public Sector ◽  
Web Sites ◽  
Public Management ◽  
New Public Management ◽  
Critical Time ◽  
Complex Nature ◽  
Public And Private ◽  
Content Type ◽  
The Public ◽  
The Uk

Purpose – The purpose of this paper is to test whether organisations in the public domain have embraced a corporate type of discourse, mirroring the private sector’s preferred orientation towards expertise, or whether they maintain their traditional discourse of goodwill towards the publics they serve. At a critical time for the public sector with inadequate funding and dominance of New Public Management approaches, will it be more motivated to portray itself as expert and efficient rather than altruistic? Design/methodology/approach – The paper applies a rhetorical framework to provide a detailed analysis of organisational value statements posted on the web sites of public and private organisations. The research considers the value priorities of 50 organisations in the UK and Scandinavia in order to gauge the extent of convergence between the two sectors’ preferred discourses. Findings – The research shows that the public sector sticks to its guns in maintaining a web-transmitted values discourse which forefronts goodwill towards its clients. It also shows that the public and private sectors take different approaches to goodwill. Originality/value – Strategists and communication specialists are encouraged to contemplate the extent to which their organisation’s projected web image equates their desired image to avoid alienating important public audiences and reinforce levels of trust. The current framework brings attention to the complex nature of goodwill and may be employed to better balance a discourse of organisational expertise against a discourse of goodwill in planning authentic value statements.

Sign in / Sign up

Export Citation Format

Share Document