Economic Survey of the United Kingdom 2015 – OECD

English: The logo of the Organisation for Econ...

English: The logo of the Organisation for Economic Co-operation and Development (OECD). (Photo credit: Wikipedia)


This is an outstanding economic survey of the UK from OECD. It’s a must read. Check it out!

via Economic Survey of the United Kingdom 2015.

There are lots of excellent graphics but here are the key areas for improvement:

Personally, I tend to endorse the report. Here’s my take on the highlights.

Labour productivity needs serious attention, especially in the public sector and regulated industries, where broken processes are often given greater priority than customer service. Government policy needs to give massive focus to improving relevant skills and facilitating exports, with increased language training.

George Osborne has been incredibly slow to invest in infrastructure, both in the public and private sectors.

Bank lending in the UK is still seriously problematic with small businesses and start-ups deprived of funds – banks seem to work on credit scoring models and judgment is subordinated. In recent years the major banks have been delayering, getting rid of their more experienced staff. In my view, the UK will continue to be constrained until the government seriously shakes up the banks.

Thoughts?

 

Charlemagne: Syriza’s scattergun | The Economist

Here’s another excellent article from the Economist. It’s a must-read. Check it out!

via Charlemagne: Syriza’s scattergun | The Economist.

Essentially, the article looks at how Greece‘s Syriza missed the opportunity to create new friends in Europe with similar interests, like France and Italy – instead it has created enemies with its scattergun approach.

Over the coming weeks, I would expect Syriza to face serious political challenge. It was elected with a specific mandate and it has failed. Surely, Syriza need to call another election to reaffirm their mandate?

Thoughts?

 

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