Government spending is a complicated business. In a mixed economy, the role of the government is undoubtedly vital in providing much needed public goods such as roads, schools, hospitals, and of course every economics teacher’s […]
The aviation industry has been one of the hardest hit by Covid-19. With countries closing borders and people ordered to stay at home, the demand for air travel has plummeted. The result has been a […]
Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as 9% from April to June. This further decline in size, following a 0.3% contraction in […]
The economic impact of Covid-19 has been devastating and wide-reaching. One country which is suffering significantly is South Africa, where going into lockdown has stifled almost all economic activity. As South Africa, the second largest […]
The president of France, Emmanuel Macron, announced this week a fiscal stimulus of €8 billion to help the French car industry. His government are hoping that the cash injection will not only help domestic auto […]
Whilst India was initially praised for their response to the Covid-19 crisis by organising a mass lockdown that effectively took 1.3 billion people off the streets, the subsequent effect on their economy will be severe. […]
Australia’s barley producers are about to feel the full force of Chinese protectionism after the Ministry of Commerce (MOFCOM) announced on Monday that an 80.5% tariff would be imposed on barley exports from Australia. The […]
With unemployment levels soaring across the world, the ILO (International Labour Organisation) released a policy brief which outlined the steps they recommend for global governments to take in order to mitigate the impact of the […]
India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown for over 50 days. The impact of such a widespread stay-at-home order has had a […]
In recent years, the automotive industry has experienced a number of mergers leading to the market becoming increasingly dominated by a few large firms, who by joining forces are only getting larger. The proposed $50 […]
Saudi Arabia, the second largest oil producing nation in the world, has for the last few years been trying desperately to diversify its economy and reduce their dependence on the export of oil. Despite being […]
In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the scheme, the UK government will fund 80% of workers’ wages, up to £2,500 a month, […]
After coming to a grinding halt in February this year, the Chinese economy is open again and gradually returning to normality. The first sign of this is that the air is hazy once again, which […]
According to a report by the World Food Programme (WFP), the economic and social disruption caused by the spread of Covid-19 has significantly increased the risk of a hunger pandemic in the poorest regions of […]
In the last three months, governments around the world have been spending huge sums of money on packages to reduce the economic devastation being caused by Covid-19. So far, the global response has amounted to […]
Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses closing across all sectors of the economy, millions of people have been forced into unemployment. […]
China’s unbelievable economic growth streak of over forty years has finally come to an end today, with the world’s second largest economy recording a negative growth rate of -6.8% in the first quarter of 2020. […]
The economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some way, and it is likely that our lives will never be the same again. One […]
According to the IMF, the world economy is predicted to experience negative economic growth of -3% this year. This projection comes after the IMF released their latest world economic outlook report a survey which is usually […]
The government of Singapore has announced an additional US$3.6 billion to support the economy as the city state sees coronavirus cases increase despite earlier signs that the virus seemed to have been contained. The additional […]
Clothing workers in Bangladesh, the South Asian country which is only second place to China in the global manufacturing of clothing, have been hit hard by the worldwide spread of Covid-19. The plummeting demand for […]
As of Wednesday this week, national minimum wage in the UK has increased by 6.2% for those aged 25 and above. This now means that any minimum wage worker over 25 will now be paid […]
Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions of dollars in order to keep the global economy afloat. The scale of the economic […]
In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill which will free up $2 trillion to be used for a coronavirus relief package. Since […]
McDonald’s has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further notice. Employing around 135,000 people across the UK, this is going to put a huge […]
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue the UK economy from the jaws of a coronavirus induced crash. In an unprecedented move, […]
In a huge show of strength against the so-called anti-competitive practices of US tech companies, the French competition watchdog has fined Apple a record US$1.2 billion. US tech companies have been under intense scrutiny in […]
In an unprecedented move today, the US federal reserve, which controls and coordinates American monetary policy, has announced a cocktail of measures to combat the economic fallout from the coronavirus which utilises almost every weapon […]
In an attempt to combat the economic fallout caused by the outbreak of the coronavirus, the Bank of England has taken the extreme measure of cutting interest rates from 0.75% to 0.25%. Monetary policy of […]
Korean Air, the largest airline in South Korea, is currently fighting for survival after the outbreak of the coronavirus has forced them to ground thousands of flights. As of writing this article, South Korea has […]
The Prime-minister of Lebanon has announced that the country in Western Asia is to default on a huge debt repayment of US$1.2 billion which was due to be paid on March 9th. The Lebanese economy […]
As of March 1st, 2020, all public transport in Luxembourg is now free. Yes, you read it right. All free! This is the latest measure taken by the government of the tiny European nation in […]
In an unprecedented move to help boost the ailing Hong Kong economy, the financial secretary Paul Chan has announced a HK$10,000 cash handout for all permanent residents aged 18 or above. This creative fiscal policy […]
All eyes are on the UK’s new chancellor, Rishi Sunak, who will soon be announcing the government’s budget for the coming year.  Since 2010, the UK government has been aggressively cutting public expenditure in […]
With millions of people in self-imposed quarantine across China and severe travel restrictions, small and medium sized businesses could be on the verge of collapse. Since the outbreak of the deadly coronavirus in January, businesses […]
The British Home Secretary has suggested the training and upskilling of the economically inactive in order to fill the large staff shortages in British businesses across the UK. According to Patel, there are over 8.45 […]
Despite an ongoing US$9 billion court case in the US over tax evasion, the CEO of Facebook Mark Zuckerberg has stated that the social networking company will be willing to pay more taxes outside of […]
Defence spending across the world increased significantly in 2019 according to a report by the Institute of Strategic Studies (ISS). The data collected by the ISS for 2019, shows that world-wide defence spending increased by […]
A recent report by a team of US scientists at the University of Arizona has suggested that owing to the climate crisis, the world could see a dramatic extinction of over a third of all […]
The inflation rate in Ghana, as measured by the consumer price index, ended at 7.9% in 2019. In a recent research study in the west African nation, prices are expected to continue their rise throughout […]
Pakistan’s high interest rate of 13.25% is unlikely to be changed anytime soon according to analysts in the country. Monetary policy, which involves the government’s manipulation of the interest rate, has been the favoured tool […]
Reports from inside the Whitehouse have suggested that the Trump administration is set to announce huge increases in spending on Artificial Intelligence (AI) and Quantum Computing for their 2021 budget proposal. The research and development […]
Local government in Mumbai have come up with an inspired plan to cut noise pollution across the city. Fed up with honking drivers waiting at the city’s junctions, traffic lights have been installed with listening […]
The economic impact of the coronavirus is still a guessing game at the moment, but one thing is for sure: it is going to be big. The impact on the services sector alone has already […]
With the UK finally leaving the EU this week, talk is beginning to ramp up over what a potential trade deal with the EU is likely to look like. The UK government has expressed their […]
At a modest 5.9%, Economic growth in the Philippines for 2019 was the slowest recorded growth in 8 years. Whilst this figure dwarfs the growth rates for developed economies, 5.9% is considered too little for […]
In the UK, interest rates are set by the Monetary Policy Committee (MPC), a group of nine central bankers who meet eight times a year to decide on any changes to the official interest rate. […]
China, the world leader in high-speed rail technology, has just opened a new 172km route which hurtles passengers across the Chinese countryside at speeds of 350km per hour without a driver! This is the latest […]
State-owned companies in India are on the verge of experiencing the largest wave of privatisation since 2000. The Indian Prime Minister Narendra Modi, famous for limited liberal reform during his first 5 years in office, […]
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