Beware the prophets of the economic miracle

Article Abstract:

UK politicians are misleading the general public in claiming that the country's economy is booming. The UK economy is mature, and therefore cannot possibly achieve large increases in the trend rate of growth. Politicians can actually have very little impact on the course of the economy, and the best they can really do when devising economic policy is to avoid making too many mistakes. They should seek high levels of investment and improved efficiency, but should also be realistic about how much they can achieve through their own efforts.

Analysis, Economic policy

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Britain is feeling good again ...

Article Abstract:

There are clear signs of growing consumer confidence in the UK, with sales of products such as designer women's clothing and multimedia computers rising rapidly. The housing market is recovering, and many homeowners are now being released from the burden of negative equity. Unemployment is falling, and earnings are now rising by 4% a year. It is unlikely that the trend toward economic recovery will be reversed, even though base rates were put up recently.

Consumer confidence

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Predictability gives way to year of living dangerously

Article Abstract:

The UK economy will face many uncertainties in 1997, compared with a great deal of predictability in 1996. These uncertainties will result mainly from political developments, with the election campaign set to affect consumer behaviour, business and investment activities. The economy will face a particularly uncertain future if the Labour party wins the general election, as there are still many unclear aspects about this party's economic policies.

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