Baubles and Tinsel Flashcards
Real GDP Growth
dropped 9.5% in 2020 but recovered by 6.8% in 2021
Unemployment Rate
3.8%, April 2022
Youth Unemployment
11% of people ages 16-24
Long Term unemployment
410.000 people
CPI Inflation
9%
Wage inflation
4.3% at the end of 2021
Real income per capita
43.000 in 2020
large fall from 2019
Mean disposable income
36.000 in 20/21
Fiscal Deficit
11.9% in 2021
National Debt
above 100% of GDP
Yield on 10-year government bonds
below 2%
Bank of England Policy Rate
1% in May 2022
Mortgage interest rates
Fixed 2.4%
Variable 2.1%
Size of quantitative easing
Total worth 895 billion
set to fall
House prices
Average house prices rose by 10% in 2021
Household Saving Ratio
19%
Minimum wage
9.50 in April 2022
significant rise
How many people in the Uk are estimated to be in working poverty?
500.000
Plastic Packaging Tax
$200 per tonne plastic, April 2022
How many people have been lifted out of poverty in China in the past three decades?
75o million
What does the Harrod Domar Growth model emphasise?
assuming savings=investment
People save more Banks have more money to lend Firms can borrow more Investment increases Short and long run economic growth
UK carbon tax
$95.98 per tonne
How many children develop Asthma every year, thanks to pollution?
4 million
world average HDI from 1970-2010
1970 = 0.48 2010 = 0.68
Example for progressive UK income tax system?
The richest 10% of the working population earn 12 times as much as the poorest 10%, however after applying taxes this falls to only 4 times as much.
Fiscal Austerity in the UK
VAT rise to 20%
Rise in National Insurance contribution
Welfare caps $26k p.a per family
Super deduction tax
For every $100.000 a company invests, their taxes are cut by up to $25.000
What is the extent of corporate tax avoidance in the UK?
approx. $6bn a year
