Some news… @carsjung.bsky.social and I are launching a Substack! We will be using this to explore what needs to change for AI to actually work for most people (spoiler: it is a lot) First post is up looking at today’s launch of the AI economics institute and how to predict AI's jobs impact 1/2

Over half of what we see on social media is posts from influencers, ads, brands and recommended content. Content from people we know makes up only 18% of what we see. These platforms personalise our feeds and promote one-sided relationships with influencers over social ones. We can demand better.

NEW: The high cost of living is on the forefront of the public's mind. The government should launch 'a war on bills' - a multi-year policy campaign to bring costs down. There are no silver bullets, but there are lots of small things that the government can do to show that it's on people side. (1/4)

This is an ace paper. We are far beyond "China dominates supply". Building domestic/regional supply chains are contingent on Chinese firms/expertise. The most interesting qus for govts now around tech transfer and leapfrogging rather than competition www.netzeropolicylab.com/china-green-...

The UK isn't close to broke but it does have a problem with fiscal drama. Tax rises will help - higher revenues will mean that HMT is less under pressure from chaotic financial markets, and the UK economy is more stable. Pleased to be quoted in @politicshome.bsky.social by @nadinebh.bsky.social

@barclaysuk.bsky.social says savers should shove cash savings into stocks for “higher returns” and to “help the economy.” What it really means is more risk for households, no guarantee of new UK investment, and one certainty—banks rake in more fees. Financial assets ≠ real investment.

We are just the only country stupid enough to discuss "black holes" every time yields rise 10bps

This isn't really true though. Borrowing over the quarter is completely in line with OBR's expectations. Borrowing was higher than expected in June, lower than expected in May, overall no deviation to the OBR's forecast. Economists in the city just got it wrong...

Today’s industrial strategy made some clear strategic choices for the future direction of the UK economy. @ippr.org found that there are opportunities for the UK in three key clean technology industries, all of which are featured in the strategy 1/8

GDP stats today were a pleasant surprise for the Chancellor. BUT there are real headwinds coming up. There needs to be a real commitment to long-term investment. It was great to talk about this on the BBC (with a brief intrusion from Trump...) youtu.be/l5r5ib4Jb24

Thanks @prospectmagazine.co.uk @aloner.bsky.social who let me write about Tony Blair's recent tribute act to the TB-GBs of New Labour, with some more serious consideration of where his NZ antipathy comes and the new politics if climate mini 🧵 www.prospectmagazine.co.uk/politics/698...

This is what growth looks like - innovation leading to successful export opportunities in things that the world needs. UK rail manufacturing is small right now but it has potential - the new government's Industrial Strategy has to support it www.telegraph.co.uk/business/202...

Green transport manufacturing, including e-bikes, buses and EVs, can play a key role in the UK's industrial strategy Governance matters: this strategy must fit with creating a better transport system - one that embraces 'multimodal mobility' and reduces car dependency New @ippr.bsky.social report👇

Trump's tariffs are destabilising the global economy, and will impact UK manufacturers, particularly the car industry. A trade deal to avoid tariffs will be helpful, but the government can go further by supporting these industries to build the tech of the future

Slowly but surely, the economy is growing. The pessimism post-budget seems to have been overplayed as firms prepared for the pain of higher taxes but couldn’t yet see the benefits of increased spending. The government needs stick to its guns says @praneshippr.bsky.social.

You can grow the economy and hit climate goals at the same time - the story below highlights some of the opportunities. The government could quite easily (and quite cheaply!!) provide the certainty and support manufacturers need through the Industrial Strategy www.ft.com/content/397c...

Thrilling, baffling yet energising - What fresh economic opportunities might Genghis Khan's monumental million-skull structure portend for Merv?

Scotland’s investment in subsea cable manufacturing is a clear example of green, growth-enhancing industrial policy in action. This is the route to a competitive, sustainable and prosperous economy built for the future www.ft.com/content/8ce0...

I agree with this: planning reform is good, but the constraint on mass housebuilding now is a lack of real resources: www.instituteforgovernment.org.uk/comment/gove...

UK needs houses, gigafactories, data centres, labs, railways and new grid. This needs construction workers/materials, which are in short supply. Are benefits of airport expansion worth the opportunity cost of sucking resources from these other growth-boosting projects right now?

A company that spent tens of billions of £ on share buybacks over the past 3 years is now making job cuts to recover its share price... It's almost like prioritising short-term financial results is actually a bad business model... www.ft.com/content/2245...

Today's monthly GDP figures show a 0.1% increase in real GDP in November - the first positive reading in 3 months. It's encouraging but far from outstanding, and very clear that interest rates have become a drag on growth. The Bank of England must cut rates ASAP

🚙 How can we make sense of the Vauxhall/Stellantis factory closure? First must avoid mixing up cause and effect, just because this is happening at the same time as the ZEV mandate doesn't mean it's the cause It's clear IMO that this has nothing to do with net zero regulations

- on.ft.com/4hZVGNj The world desperately needs a slump of Japanese length, to wring out this speculative excess

1/5 This WSJ article makes an important point: tax cuts promote growth mainly to the extent that they promote domestic business investment. This means that whether or not tax cuts are good for growth depends on underlying conditions. www.wsj.com/economy/why-...

After seeing @isabellamweber.bsky.social's work on sellers' inflation, headlines like this make me think similar dynamics are at work when it comes to tax rises as well. Could firms be building their margins by coordinating actions around a tax hike? feeds.bbci.co.uk/news/article...