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My media highlights – August 2022

Aug 30, 2022

Below is the top-line summary of my media coverage for August 2022.

I appeared on the Financial Times’ Payne’s Politics podcast – 27 August – to discuss the economic and energy challenges facing the new Prime Minister.

I was on LBC – 22 August – to discuss the energy challenges facing the UK.

In my fortnightly Conservative Home column – 23rd August – I argue that despite near-term challenges, I remain optimistic about the longer-term outlook. At the turn of this century, the world economy was $32 trillion in size. This year, despite all the problems we have seen so far this century, the world economy continues to growth and the IMF sees the size of the world economy exceeding £100 trillion this year. Yet the world is not only changing economically. The war in Ukraine has led, in my view, to the emergence of a G3 world comprising the US, China, and a new non-aligned group compromising a swathe of countries which do not want, or have become unable, to take sides in the hope of retaining good relations with the world’s two largest economies. How we reposition ourselves in this changing global economy will be key for our outlook.

I had a piece in Bright Blue’s most recent Centre Wright magazine – 18th August – on why tax cuts are not necessarily inflationary and the need to go for growth.

I was on BBC Radio 4’s Today programme – 16th August where I discussed the latest employment data. Three takeaways, first two consistent with recent months: labour market tight and wage growth rising, but not matching inflation so real wages down; the third is there is tentative evidence labour market turning and softening. The data focused attention on an issue raised in previous months, namely the increased inactivity rate – now at 21.4% and up 1.2% versus pre-Covid. While attracting people back to labour force should be a focus, it may be overtaken by softer labour market as economy slows

I wrote for The Sunday Telegraph – 14th August – on why Liz Truss’s economic vision is the right one for the country.

My Policy Exchange housing paper, Helping more people become First Time Buyers, got pick up in The TimesFinancial TimesBloomberg and The Daily Mail11th August.

In my fortnightly column for Conservative Home 08th August – I pushed back on some of the defences being used by the Bank of England and others regarding its record – including how it had to print £450bn (wrong), that criticisms rely on hindsight (wrong), and how lax monetary policy hasn’t exacerbated problems (wrong).

I spoke to LBC’s Money podcast – 08th August – about the Bank of England, the US economy, Brexit and China.

I was on Sky News – 08th August – discussing the UK economy, whether an emergency Budget is needed and what policy options are available to the next PM.

I was quoted in The Daily Mail06 August on why the Bank of England could learn from the US Fed.

I was quoted extensively in The Telegraph – 05th August – on what the Bank of England should do next.

I was quoted in The Daily Mail – 05th August – on how the Bank of England is suffering from a self-inflicted credibility gap.

I was on BBC Newsnight – 04th August – discussing how the UK clearly faces both an inflation problem and an economic slowdown with weak domestic demand.

I was on BBC Radio 4’s PM programme – 04th August – discussing how cuts and interest rates are not opposite ends of the same seesaw. The nature of our inflation shock and prospect of weaker domestic demand (the Bank of England expects 3.75% of econ slack at the end of 3-year period) adds to the case to act now with easier fiscal policy.

I was quoted in Bloomberg04th August – regarding the Bank of England. I comment that monetary policy is far too loose, interest rates are far lower than inflation so there is currently the case to tighten. I also added that if they move 0.5%, it would lead to expectations that they move 0.5% at the next meeting.

I was quoted in Bloomberg 03rd August – regarding the Bank of England’s mandate. I comment that a review is about re-evaluating the role of the Bank of England and whether the remit is suitable enough for the economic situation.

I wrote an op-ed for The Times – 02nd August – on how higher interest rates may be needed for the sake of financial stability.