Category archives for Craig Berry

How to localise pension investment and support local economies – new SPERI research project

People throughout the UK create a large amount of investable capital through saving for a pension. Yet this capital is rarely retained in the areas they live and work in. SPERI is embarking on a major new research project funded by the Barrow Cadbury Trust which will examine localising pension investments. The project, led by Dr Craig Berry, will assess … Continue reading

14 September 2017 by
Categories: Craig Berry, News, Research | Tags: , | Leave a comment

The real ‘new politics’ of post-crisis Britain: Part II

Craig Berry

Austerity is anchored in a new politics of place, but Labour is adrift In part I of this post, I argued that, through the ‘Northern Powerhouse’ agenda, the Conservative government had successfully exploited post-crisis anxieties about place to justify its ongoing austerity crusade. In this second part, I argue that Labour has been too slow to grasp the centrality of … Continue reading

25 February 2016 by
Categories: Austerity, Craig Berry, Devolution, Politics and policy, SPERI Comment | Tags: , , , , , | Leave a comment

The real ‘new politics’ of post-crisis Britain: Part I

Craig Berry

The Conservatives understand – and exploit – the electorate’s concerns about ‘place’ As I argue in my forthcoming book Austerity Politics and UK Economic Policy, if austerity were simply an argument about the merits of deficit reduction, its critics on the left would have won hands down.  Indeed, the regularity with which George Osborne now delays the deficit reduction end-date … Continue reading

18 February 2016 by
Categories: Craig Berry, Devolution, Economics, Politics and policy, Social science, SPERI Comment | Tags: , , , , , , , , | Leave a comment

Austerity rests on a thesis the government doesn’t believe in

Tom Hunt and Craig Berry

Concentration of infrastructure investment in areas with high levels of business activity suggests the government is unconcerned by ‘crowding out’ Remember expansionary fiscal contraction? You don’t hear much about it now, but back in 2010 when George Osborne set out his austerity agenda, the theory underpinning it was that the private sector would expand to fill the gaps caused by … Continue reading

1 September 2015 by
Categories: Austerity, British growth crisis, Craig Berry, Development, Economics, Inequality, SPERI Comment | Tags: , , , , , , | Leave a comment

SPERI’s Deputy Director criticises Chancellor’s ‘budget surplus’ plans

Dr Craig Berry, SPERI’s Deputy Director, was one of 77 of the country’s ‘best known academic economists’, to sign a letter published in The Guardian last Saturday attacking George Osborne’s plans, as announced in his Mansion House speech, to achieve ‘permanent budget surpluses’ in Britain.  The letter argues that these plans have ‘no basis in economics’, would unnecessarily tie the … Continue reading

15 June 2015 by
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Why the North, why now, and what’s new?: Part II

Craig Berry

Osborne’s plans spell ‘devo-danger’ for the left in Northern England Devo-Manc, and its equivalents in the other regions of Northern England that will surely follow, is being sold as a key element in the creation of George Osborne’s ‘Northern Powerhouse’.  In the first of these posts, I argued that Labour’s future might depend on rekindling Northern England’s ‘inner powerhouse’.  Here, … Continue reading

11 June 2015 by
Categories: British growth crisis, Craig Berry, Inequality, Politics and policy, SPERI Comment, Tax | Tags: , , , , , , , | Leave a comment

Why the North, why now, and what’s new? Part I

Craig Berry

For England’s sake, the time has come for Northern England to find its ‘inner powerhouse’ In the wake of the general election, Englishness as a national identity is being articulated in an increasingly aggressive manner.  When all the dust has settled, we may in future come to see this as the key legacy of the 2015 general election – or … Continue reading

4 June 2015 by
Categories: British growth crisis, Craig Berry, Development, Economics, Inequality, Politics and policy, Social science, SPERI Comment, Tax, Welfare | Tags: , , , , | Leave a comment

The rebalancing agenda, Boris Johnson and the politics of pension funds

Craig Berry

The Conservative agenda on pension investments is inherently shallow and increasingly moralistic in tone The UK coalition government has had its eye on pension fund investments for a while.  A reorientation of investment practice by pension funds is seen as essential to economic rebalancing; the explicit suggestion is that pension funds are too short-termist in nature and have not sufficiently … Continue reading

26 November 2014 by
Categories: British growth crisis, Craig Berry, Debt, Economics, Finance, Politics and policy, SPERI Comment, Tax, Welfare | Tags: , , , , | 1 comment

Response to the budget: podcast & policy brief

SPERI Research Fellow Craig Berry responds to Osborne’s budget announcement in both the latest Policy Brief series and in the video below, arguing that changes to tax allowances will not help the lowest paid in Northern regions. Berry argues that the lowest-paid workers do not benefit at all from the Budget measure to increase the income tax personal allowance and … Continue reading

21 March 2014 by
Categories: Craig Berry, Publications | Tags: , , , , , , , , , , | Leave a comment

Craig Berry debates the Minister for Pensions Steve Webb MP & other events this week

It’s been another busy week for the SPERI team. On Monday 10th February SPERI Research Fellow Craig Berry debated pensions with the Minister for Pensions Steve Webb MP. At the event held by the International Longevity Centre (ILC) UK entitled Linking state pension age to longevity: Tackling the fairness challenge, Ben Franklin presented a new report which outlined issues surrounding the steadily … Continue reading

13 February 2014 by
Categories: Craig Berry, Events, Research Fellows | Tags: , , , , , , , , , , , , , , , , , , , | Leave a comment

Business as usual as City pay soars while manufacturing stagnates

Craig Berry

George Osborne promised a ‘march of the makers’ but as yet there is little sign that a resurgence of manufacturing is helping the economy to rebalance As late as 1980, manufacturing represented around 30 per cent of the UK’s gross value added (GVA) and employed around a quarter of the workforce. But it now represents around 12 per cent of … Continue reading

9 January 2014 by
Categories: British growth crisis, Craig Berry, Economics, Finance, SPERI Comment | Tags: , , , , , , | 1 comment

Welcome to the pseudo-recovery

Craig Berry

UK investment and consumption performance demonstrates the frailty of the economic recovery The second estimate of GDP for the third quarter of 2013, published by the ONS this week, appears to confirm that the UK economy has returned to consistent growth. Yet the detailed breakdown of investment results paints an alarming picture of an unbalanced economy. Growth remains far too … Continue reading

29 November 2013 by
Categories: British growth crisis, Craig Berry, Economics, Finance, SPERI Comment, Uncategorized | Tags: , , , , , , | 2 comments

Interrogating the ‘good news’ on employment

Craig Berry

Why the coalition government is wrong to consider the relatively high employment rate one of its main successes The good news is that the employment rate has grown to 71.7 per cent (all aged 16-64) in June-August 2013, up from 70.7 per cent when the coalition government took office. There are almost 700,000 more people in work. However, there are … Continue reading

25 November 2013 by
Categories: British growth crisis, Craig Berry, Employment, SPERI Comment, Uncategorized | Tags: , , , , , , , , | 1 comment

Export-led growth and the failure of economic rebalancing

Craig Berry

The trade deficit is growing – and the Transatlantic trade deal is unlikely to rectify this The Conservative Party’s general election manifesto could not have been clearer: ‘A sustainable recovery must be driven by growth in exports’. A preceding speech by George Osborne specified ‘net exports’, explaining that rising exports had to be matched by falling imports, as Britain once … Continue reading

19 November 2013 by
Categories: British growth crisis, Craig Berry, Economics, Europe and the EU, SPERI Comment | Tags: , , , , , , , , , , , , , | 1 comment

Are we there yet?

Craig Berry

The recent good news about renewed growth in the British economy badly needs to be scrutinised and put in context A strange story has started to emerge about the British economy. Apparently, it’s in recovery! The central plotline boils down to one key statistic: the UK economy is growing. GDP growth in the second quarter of 2013 was 0.7 per … Continue reading

14 November 2013 by
Categories: British growth crisis, Craig Berry, Economics, Politics and policy, SPERI Comment | Tags: , , , , , , , | 1 comment

Labour and the politics of budget responsibility

Craig Berry

The stakes are high as Labour seeks approval from the Office for Budget Responsibility Labour’s Shadow Chancellor, Ed Balls, has requested that the Office for Budget Responsibility (OBR) assesses Labour’s plans for government. His intention is to show that the spending commitments Labour makes in the run-up to the general election are matched by cuts elsewhere, or extra revenue, having … Continue reading

15 October 2013 by
Categories: Craig Berry, Finance, SPERI Comment | Tags: , , , , , , , , , , , | 2 comments

Welcome Craig Berry!

We would like to officially welcome Craig Berry to the SPERI team. Craig joined the team as a Research Associate this week. His project ‘Reorienting the British Growth Model’ will review, summarise and contribute further to literatures on national and regional investment banking, considering the relative merits of different national models and the role they have played in promoting export-led … Continue reading

10 September 2013 by
Categories: Craig Berry, Research, Research Fellows | Tags: , , | Leave a comment