The great majority of economists were opposed to Brexit – about 90% according to a survey of members of their professional societies. Over 200, including 12 Nobel prize winners, signed a statement explaining why. Diane Coyle was among them. Here she explains why and outlines why Brexit has ignited economic turmoil. Unfortunately, the arguments […]
Devo Manc – risk, opportunity or threat?
The handing over of the health budget to Greater Manchester authorities carries both risk and opportunity says Diane Coyle, who argues that delivering on data and analysis will be key for policymakers. The risk is obvious: as with the entire Devo Manc process, those concerned have to make it work. They have to spend […]
Lucky Chancellor?
The day after George Osborne’s Comprehensive Spending Review, Diane Coyle picks out the winners and losers. One of the most important attributes a Chancellor of the Exchequer can have is to be lucky. Lucky, that is, in all the aspects of the economy that are outside the control of the government – which is most […]
Is the use of statistics leading to short-term economic thinking?
Diane Coyle asks if our use of economic statistics is distorting policy and making it focused on the short-term. When the same question crops up in some very different places, it is a signal of the importance of the issue. In two events recently, participants have challenged the role of the media in the economy. […]
Booming Manchester
Manchester’s economy, and its population, is growing, But the decision to ‘pause’ the electrification of the Manchester-Leeds rail line underlines the reality that important decisions are still controlled nationally, explains Professor Diane Coyle. One of the most telling signs of a successful economy is when people vote with their feet and move there. As the […]
The truth about deflation: keep calm and carry on (for now)
As official Government figures show that the UK economy deflated in April, for the first time since the 1960’s, Diane Coyle looks at whether we should be worried. There was much excitement about the news that the UK’s Consumer Price Index (CPI) declined by 0.1% in the 12 months to April. A negative figure for […]
UK GDP grows more slowly – should we worry?
Professor Diane Coyle explains that the latest, disappointing, GDP figures tell us little about what is actually happening in the economy. That won’t stop them being used by all the parties in the last days of the General Election campaign. It was no surprise that the General Election spin machines should try to put their […]
Why devolution is good for the economy
The case for the devolution of power away from London has centred on the political arguments. Professor Diane Coyle looks at the economic reasons. The context for the devolutionary tide in politics – to the nations and within England to the north and especially Greater Manchester – is that the United Kingdom has long been […]
Time to ditch GDP as a measure of economic well-being
There is nothing inevitable or ‘natural’ about using GDP to measure the economy. The Office for National Statistics has embarked on a journey toward a more rounded assessment of economic well-being, argues Professor Diane Coyle. Just before Christmas, the Office for National Statistics took a giant step, in its normal low key manner: it published […]