Stephen Millard

3 weeks ago | niesr.ac.uk | Adrian Pabst |Graeme Roy |Anton Muscatelli |Stephen Millard

But this static exercise of balancing the books is short sighted. The fiscal rules are supposed to confer the sustainability of the public finances. In other words, ensure that the growth of debt as a share of national income remains bounded. However, sustainability is a complex artefact, composed of both past actions and future expectations – and these rules do not capture the nuanced position in which the UK economy currently sits.

3 weeks ago | niesr.ac.uk | Graeme Roy |Anton Muscatelli |Adrian Pabst |Stephen Millard

Will the Spring Statement help to raise economic growth? The outlook for the United Kingdom’s trend growth remains subdued. After years of hovering around 1 per cent per year, growth will pick up as a result of the fiscal stimulus announced in the October 2024 Budget and also the increased defence spending confirmed by the Chancellor in Wednesday’s Spring Statement.

1 month ago | niesr.ac.uk | Graeme Roy |Anton Muscatelli |Adrian Pabst |Stephen Millard

Ten-year gilt yields rose from 3.9% in September 2024 to 4.4% in December 2024. This was followed by large fluctuations in January 2025, reaching a high of 4.9% before coming back to just over 4.5% today. Such increases are not unique to the UK, but part of a global trend that is partly led by rising bond yields in the United States. Bond yields are the annual returns on bond investments, expressed as a proportion of the bond price.

2 months ago | niesr.ac.uk | Ahmet Kaya |Stephen Millard |Carolina Garriga |Jonathan Portes

In this Governor Talk John Pullinger will present the work of the Electoral Commission and his role as its chair. The Electoral Commission is an independent body that oversees elections… To access the content, membership account is required. Get involved