Prime Minister Theresa May is due to unveil Brexit plan B to Parliament today but it is unlikely to differ much from her first version. Following a crushing defeat on the Withdrawal Agreement and having narrowly survived a no-confidence vote, Mrs May offered an olive branch of cross party talks but was rebuffed by Labour leader Jeremy Corbyn. Talk of an extension of Article 50 is on the rise but an exit from EU without a deal is still possible.
Latest UK data points to a rebound in Q2 GDP after a lacklustre Q1.
Rising inequality has been blamed for everything from slow growth to political earthquakes last year, but on at least one sensible measure income inequality in the UK is substantially lower than it was before the recession. Continue reading
The latest economic output statistics confirm that the Northern Ireland economy was growing strongly in Q2 ahead of the EU referendum result. The Northern Ireland Composite Economic Index expanded at its fastest rate (+1.0% q/q) in almost three years in Q2 2016 and hit its highest level in over 6 years. However, this overall headline performance conceals divergence between the private and public sectors. While the former remains in expansion mode the latter continues to reduce its headcount in the face of public spending pressures. Continue reading
Recent data suggest two things. First, the UK’s impressive pre-vote 0.6% Q2 growth may be trimmed a touch. Second, that consumer spending post-vote should prove stronger than first feared. A little moderation cuts both ways. Continue reading