IFS Zooms In: The Economy

The government has pledged to make 'levelling up' a core part of their policy agenda. To achieve this, they have promised increased investment spending and infrastructure spending. What is investment spending? Why is investment so much lower now than it was 40 or 50 years ago? How does this relate to recent announcements from the government, and the response to the pandemic? Joining us today, Professor Sir Tim Besley, Professor of Economics at LSE and member of the National Infrastructure Commission, and Ben Zaranko, Research Economist at IFS. Hosted on Acast. See acast.com/privacy for more information.

The effect of the COVID-19 crisis on the economy has been huge. National income fell by 20% in April, to a level last seen in the early 2000s. But the impact of this vast aggregate shock on the finances of different households will vary widely. In this episode, we ask how household incomes were looking before the crisis, how they've been impacted during the lockdown and what we think they could look like in future. Hosted on Acast. See acast.com/privacy for more information.

We found out that the UK came close to insolvency in March as a result of the turmoil caused by the coronavirus pandemic. Thankfully, the country managed to avoid that. Nevertheless, the COVID-19 pandemic has resulted in unprecedented damage to the UK economy. In this episode, we speak with Benjamin Nabarro, a senior economist at Citi Group and IFS Deputy Director, Carl Emmerson. We ask what the forecast is for the economy, how Brexit will impact that forecast, how the government can help the economy recover and what the long term effects of this crisis might be. Hosted on Acast. See acast.com/privacy for more information.

The COVID-19 crisis has affected every part of the country – and indeed many other countries. What sets this crisis apart is the many different ways that it is impacting families: while the virus itself is primarily a public health issue, the unprecedented responses it has necessitated mean that this is also very much an economic and a social crisis. This is not to say that it is equally all of these things to all people – some families, and some areas, will be particularly vulnerable to the virus’s health impacts, while others look to be hit particularly hard on economic or social dimensions. We are joined by Imran Rasul, Professor of Economics at University College London and co-director of the Centre for the Microeconomic Analysis of Public Policy at the IFS and Christine Farquharson, Senior Research Economist at the IFS to ask, are people in some parts of England more 'vulnerable' than others? Hosted on Acast. See acast.com/privacy for more information.

Alongside widespread school closures, lockdown has also resulted in significant challenges for the higher and further education sectors. What will happen with universities and students next year? How will the pandemic affect apprenticeship schemes? What are the likely educational and economic impacts on young people from our response to the virus? In this episode we speak with Anna Vignoles, Professor of Education at the University of Cambridge and Luke Sibieta, Research Fellow at the Institute for Fiscal Studies, specialising in education and skills. Hosted on Acast. See acast.com/privacy for more information.

In this episode of IFS Zooms In, we'll be looking at the longer term impacts of the current crisis on the nation's health and on the delivery of healthcare. From pent up demand from those unable to attend appointments, to the long-term effects of the recession we have now entered, we will ask how has the pandemic affected our health and healthcare? Joining us are two of the UK’s leading experts on the economics of health and healthcare: Carol Propper, Professor of Economics at Imperial College London, research fellow at the IFS and President of the Royal Economic Society, and James Banks, Professor of Economics at Manchester University and Senior Research Fellow at the IFS. Hosted on Acast. See acast.com/privacy for more information.

The coronavirus crisis has caused drastic changes to most parents’ work lives and other responsibilities. Millions of adults have lost or are forecast to lose their jobs permanently; many more have stopped work temporarily. Others are newly working from home, while many key workers are experiencing additional pressures and risks in their work. For most parents, school and childcare closures have meant that children are at home, and requiring care, for at least an extra six hours a day. How much time have children spent learning from home? Are mothers and fathers sharing the responsibility equally? How is this affecting families' use of time? In this episode of IFS Zooms In, we ask who is looking after the kids? Hosted on Acast. See acast.com/privacy for more information.

Governments are starting to ease restrictions to economic activity. The risks of easing these measures too soon, or in misguided ways, are obvious, not only for public health but also for the economy. A world with no lockdown and a pandemic spreading rapidly through the population does not make for a healthy economy. Neither, in all likelihood, does a world in which containment measures have to be repeatedly reinstated after being eased prematurely or in suboptimal ways. In this episode we ask, how can the UK government get people back to work? Hosted on Acast. See acast.com/privacy for more information.

Wherever we look, it seems that inequalities are shaping people's experience of coronavirus and of the lockdown. Ethnic minorities are significantly more likely to die from coronavirus than their white counterparts. Those in lower-paid jobs are more likely to be in a shut-down industry. The lockdown is widening the gender pay gap. In this episode, we take a close look at how the impact of coronavirus on communities is shaped by ethnic, gender and demographic inequalities. Hosted on Acast. See acast.com/privacy for more information.

The government has offered unprecedented support to workers since the start of the lockdown in March. Chancellor Rishi Sunak has announced multiple schemes to tackle the economic impacts of the lockdown, including the JRS (Job Retention Scheme) for employees and the SISS (Self-Employment Income Support Scheme) for self-employed workers. In this episode, IFS Director Paul Johnson speaks to Helen Miller, Deputy Director of the IFS and head of our Tax sector, and Xiaowei Xu, a senior research economist in the Income, Work and Welfare sector. We ask about the government intervention, whether the schemes are extensive enough and what role the benefit system can play in plugging any gaps. Hosted on Acast. See acast.com/privacy for more information.