In this video, Hailey covers the economic outlook of the UK in spring 2023 as per the NIESR’s UK Economic Outlook. Hailey explains the causes, impacts and risks posed by this period of high inflation on the economy as a whole. She also covers the measures taken by the Bank of England and the Government as a response to inflation.
In this video, Hailey covers the economic outlook of the UK in spring 2023 as per the NIESR’s UK Economic Outlook. Hailey explains the causes, impacts and risks posed by this period of high inflation on the economy as a whole. She also covers the measures taken by the Bank of England and the Government as a response to inflation.
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13 mins 29 secs
Towards the end of 2022, the UK's economy was forecasted to face a long recession in 2023, however it seems to have averted that. Although that is positive news which shows signs of improvement, the risks of high embedded inflation, a tight labour market, and sluggish growth remain. Policymakers must address the underlying causes of economic challenges and implement targeted strategies to navigate through them effectively. Additionally, fiscal policies should prioritise improving the welfare of households rather than solely meeting arbitrary fiscal targets.
Key learning objectives:
Understand the economic situation of the UK in spring 2023
Understand the causes and the impacts of inflation in the UK
Understand how the Bank of England has responded to the inflation
Understand fiscal policy measures aimed to address the economic situation
Access this and all of the content on our platform by signing up for a 14-day free trial.
Access this and all of the content on our platform by signing up for a 14-day free trial.
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