Posts by Scott Lavery

Scott Lavery, SPERI Research Fellow

Capitalising on Brexit? Charting the next phase of European Capital Markets Union

Scott Lavery

Although the UK embraced Capital Markets Union (CMU) in its early stages, it also strongly resisted attempts to enhance EU-level supervisory powers. Brexit could now see the CMU agenda develop further – but not in the way the UK had initially anticipated Since its launch in 2014, Capital Markets Union (CMU) has become a flagship initiative of the European Union. … Continue reading

25 October 2017 by Scott Lavery
Categories: SPERI Comment Tags: , , , ,

Review: The End of British Politics? by Mick Moran

Scott Lavery

This timely new book expertly charts the endurance of the British state and how elites have sought to ‘repurpose’ it. Whether this can be achieved again after Brexit is highly uncertain In the eleven months since the EU referendum, there has been a daily flood of Brexit-related news, analysis and polemic. Legal wrangling between parliament and executive, party political manoeuvrings … Continue reading

15 May 2017 by Scott Lavery
Categories: SPERI Comment Tags: , ,

Will Frankfurt, Paris and Dublin replace the City of London after Brexit?

Scott Lavery

Alternative EU financial centres are unlikely to supplant the City as Europe’s premier financial hub – but private and public actors within these urban centres are already seeking to ‘capitalise’ on Brexit It is often claimed that alternative financial centres (AFCs) within the EU are well-placed to benefit from Brexit. However, no comprehensive analysis of the positioning of AFCs in … Continue reading

3 April 2017 by Scott Lavery
Categories: SPERI Comment Tags: , , ,

EU business strategies and Brexit: Balancing proximity with politics

Scott Lavery

As Article 50 is ‘triggered’ business groups within EU member states are caught in a dilemma between proximity and politics: how to minimise trade barriers with the UK whilst maintaining the Single Market Powerful firms and business interest groups within the EU are likely to have a significant influence over the shape of the Article 50 negotiations. Despite this, there … Continue reading

30 March 2017 by Scott Lavery
Categories: SPERI Comment Tags: , , , ,

The CBI, British business and employment rights after Brexit

Scott Lavery

Brexit undermines the CBI’s EU engagement strategy. British business now faces a dilemma about how to influence social and employment policy In the run-up to the EU referendum, both the trade unions and the Labour leadership warned that Brexit could lead to an attack on a range of employment rights underpinned by EU legislation.  This argument was generally made with … Continue reading

4 October 2016 by Scott Lavery
Categories: Europe and the EU, Politics and policy, SPERI Comment Tags: , , , , ,

The Coming Crisis: enduring imbalances in the Eurozone

Scott Lavery

In the third blog in SPERI’s new series on ‘the coming crisis’ Scott Lavery examines three areas of imbalance in the Eurozone and argues that the single currency area remains vulnerable to a future economic downturn Jean Monnet – one of the architects of the European integration process – once opined that “Europe will be forged in crises, and will … Continue reading

13 April 2016 by Scott Lavery
Categories: Economics, Europe and the EU, SPERI Comment, The coming crisis Tags: , , , , , , ,

Child poverty and the unravelling of New Labour’s ‘hybrid’ political economy

Scott Lavery

Cameron claims to lead a ‘One Nation’ government, but pursues a ‘two nations’ governing strategy One of the headline social policy goals of the Blair and Brown governments was to eradicate child poverty in Britain by 2020.  During New Labour’s thirteen years in power considerable progress was made in this regard: child poverty fell from 3.4 million in 1998 to … Continue reading

12 August 2015 by Scott Lavery
Categories: British growth crisis, Debt, Politics and policy, SPERI Comment, Tax, Welfare Tags: , , , , , , , , ,

Inequality Redux I

Scott Lavery

Wage decline, welfare retrenchment and the politics of austerity in Britain In the years immediately following the crisis of 2007-8, income inequality declined in Britain on some key measures. However, focusing on the labour market as well as on the changing composition of Britain’s welfare state, this post argues that real wage decline has precipitated a ‘race-to-the-bottom’ in Britain, whereby … Continue reading

19 February 2015 by Scott Lavery
Categories: Inequality, Politics and policy, SPERI Comment, Sustainability, Welfare Tags: , , ,

The state of the regions

Scott Lavery

The link that previously connected finance-led growth at the core and public sector employment at the periphery of the British political economy is unravelling The British economy appears to have returned to the debt-led growth model which was in place before the crisis.  Asset-price inflation continues, with property prices rising in London by 18% in the past year.  Relatedly, household … Continue reading

9 October 2014 by Scott Lavery
Categories: British growth crisis, Economics, Finance, Housing, SPERI Comment Tags: ,

‘Tartan neoliberalism’ isn’t driving the campaign for Scottish independence

Scott Lavery

There is instead the prospect of a re-awakened social democracy In his blog posted two days ago, Craig Berry states that ‘cold-hearted analysis of Britain’s political economy’ has led him to advocate a ‘No’ vote in the forthcoming Scottish independence referendum.  His argument is that the SNP’s ‘tartanised neoliberalism’ will ultimately entrench an independent Scotland’s ‘subservience’ to the UK’s finance-led … Continue reading

11 September 2014 by Scott Lavery
Categories: Economics, SPERI Comment Tags: , , , ,

Income inequality and the downward wage push

Scott Lavery

The most dangerous ‘imbalance’ at the heart of the UK economy is the disproportionate bargaining power that firms have over labour Over the past thirty years, the ‘wage share’ – the proportion of economic output that accrues to labour – has declined significantly. While in 1982 the wage share in Europe was 72.5%, by 2007 it had fallen to 63.3%. … Continue reading

4 February 2014 by Scott Lavery
Categories: Employment, SPERI Comment

Precarious employment & the ‘recovery through regressive redistribution’

Scott Lavery

Proliferation of zero hours contracts is further entrenching Britain’s dysfunctional economic model The UK’s economy has recently shown signs of modest recovery, with growth in the previous quarter up by 0.7%. Some have argued that this belatedly justifies the coalition government’s austerity programme. But, precisely because some economic indicators suggest that the UK might be stuttering out of its deep … Continue reading

17 October 2013 by Scott Lavery
Categories: British growth crisis, Employment, SPERI Comment

The limits of Modell Deutschland and British social democracy

Scott Lavery

Attempting to emulate Germany’s economic model is not the cure-all that many British social democrats hope for A long-standing current of thought within the Labour party has sought to rejuvenate British democracy and economic performance by looking to the ‘social market economies’ on the continent. Under Ed Miliband, the Labour Party’s ideological flirtation with this European alternative has become increasingly … Continue reading

4 June 2013 by Scott Lavery
Categories: British growth crisis, Europe and the EU, Politics and policy, SPERI Comment

The intransigence of British nationalism

Scott Lavery

The world is changing rapidly, but British elites continue to promote the same tired nationalist discourse to damaging effect Symbols of British cultural identity were constantly displayed during the Olympics, the Diamond Jubilee and throughout 2012. Alongside the fluttering Union Jacks, the inconvenient signs of economic decline, recession and falling living standards were in clear view – or would have … Continue reading

14 February 2013 by Scott Lavery
Categories: Politics and policy, SPERI Comment

Ed Miliband’s Polanyian problem

Scott Lavery

‘One Nation’ politics might resuscitate the Labour Party, but it risks disguising real divisions within British society Ed Miliband’s first act as Labour Party leader was to affirm that the old was, indeed, dying. After fifteen years of credit-fuelled growth and deregulation, the economy had tipped into the Great Recession. Miliband recognised that the Third Way had passed. In order … Continue reading

20 December 2012 by Scott Lavery
Categories: British growth crisis, Inequality, Political theory, Politics and policy, SPERI Comment

Uneven geographies of the British crisis

Scott Lavery

As the UK’s economic model flat-lines, new visions of a progressive political economy – rooted in our cities, regions and sub-national spheres – become more significant In a recent blog post Colin Hay argued that this is a ‘very British crisis’ in the sense that successive UK administrations actively promoted – domestically and internationally – the unsustainable model of Anglo-American … Continue reading

21 November 2012 by Scott Lavery
Categories: British growth crisis, SPERI Comment