UK Skills Funding Needs a Long-Term Plan
Recently, we wrote to Bridget Phillipson, Secretary of State for Education, to ask for more certainty over the future of skills provision that the UK…
Economic Growth
What is Economic Growth?
Economic Growth is the augmentation or enhancement in the inflation-adjusted market value of the goods and services produced by an economy within a financial year.
Statisticians traditionally quantify such growth as the percentage rate of increase in both the real and nominal gross domestic product.
It refers to the expansion of a country’s economy over a specific timeframe, with the size measured by the total production of goods and services, known as gross domestic product (GDP). It can be assessed in either ‘nominal’ or ‘real’ terms.
How is Economic Growth Measured?
The formula for measuring this is GDP = consumer spending + business investment + government spending + net exports.
Why is Economic Growth Important?
It generates job opportunities, leading to stronger demand for labour, which is the primary and often the sole asset of the poor. Increasing employment, in turn, has been crucial in delivering higher growth.
How does Economic Growth Benefit us?
2024 Autumn Budget predictions
As the 2024 Autumn Budget fast approaches, the first to be delivered by Chancellor of the Exchequer, Rachel Reeves, Dr Richard Whittle, University Fellow at…
New project receives funding to boost regional innovation in Manchester and Salford
A collaborative project aimed at strengthening the commercialisation of research in Manchester and Salford has been awarded funding through the Connecting Capability Fund (CCF) from…
Fostering Young Entrepreneurs: A UK Roadmap
Philip Salter discusses policies the UK government should implement to support young entrepreneurs, including addressing funding uncertainties, embedding entrepreneurship education, fostering edtech engagement, increasing innovation…
2.4m SMEs reluctant to adopt AI pose growth threat to next government
@bethebusiness: 2.4 million business leaders could be left behind by the advances in AI, posing a huge economic risk to the UK, recent findings have…
Webinar: Economic Growth through Improving Productivity Skills
The World’s economy is still recovering from Covid-19 and achieving growth whilst facing the challenges of economic shock from two major conflicts and climate change.…
Prime Minister to announce Apprenticeship Levy Reforms with £60M investment for young people and SME’s
Major package of reforms to support small businesses in PM’s first economic speech since the Spring Budget. Under the new plans, large employers who pay…
Stimulating Economic Recovery | FE Soundbite Edition 733
Welcome to FE Soundbite Edition 733, February 17th 2024: Stimulating Economic Recovery This is the weekly e-newsletter and e-journal by FE News: ISSN 2732-4095. We…
A Big Number Worth Celebrating
Skills Minister Robert Halfon MP shares his thoughts on National Apprenticeship Week 2024. This National Apprenticeship Week, I want to reflect on what government, businesses…
Navigating Economic Challenges – Sweden’s Economic Outlook and the Role of Robust and Innovative Employability Strategies
Sweden’s economy faces challenges due to global economic disruptions and inflationary trends. Innovative employability strategies are crucial to navigate these challenges effectively. Understanding Sweden’s Current…