Economic lookahead: w/c 12 March

Unemployment figures released, second Greek bailout discussed, and goldbugs debating at the IEA.

Monday

  • Eurozone finance ministers meet, and are expected to approve the second Greek bailout now that the country has fulfilled it requirements by convincing creditors to drop more than €100bn of debt'
  • UN World Water Development Report says demand for water is threatening all major development targets.
  • World Travel & Tourism Council say that air passenger duty is costing the UK economy billions.
  • Centre for Economics & Business Research blame rising commodity prices for a fall in real disposeable income in the UK.
  • FSB's Voice of Small Business Index released.

 

Tuesday

  • Annual review of the inflation basket. Previous years have seen the introduction of Blu-ray players and flatscreen TV's, and the merging of "women's trousers" and "women's skirts".
  • OECD harmonised unemployment rates; released the day before the UK's own unemployment figures, these serve as a useful international comparator.
  • Department for Communities and Local Government release their house price index. The only government-collated house price index, these will be the figures to use to examine the NewBuy program.
  • ONS releases the UK trade figures.

 

Wednesday

  • UK unemployment figures released. Expected to show a rise in unemployment and youth unemployment.
  • Mark Hoban, Financial Secretary, will be up in front of the European Scrutiny Committee talking about the eurozone debt crisis.
  • Consumer Credit Counselling Service will release their annual statistical yearbook. Personal debt has fallen out of the spotlight, but there's growing consensus that if there is another debt crisis, this is the sector it will fall upon.
  • Lord Turner, chairman of the FSA, will interviewed by the Treasury Select Committee about mortgages.

 

Thursday

  • OECD launch their report on the medium term environmental outlook.
  • IEA host a discussion on the return to the gold standard, 6:30pm, London.
  • Debate on lowering the price of motherhood at the Resolution Foundation, 10:30am, London.
  • IMF board to discuss the second Greek bailout.

 

Friday

  • Financial policy committee of the Bank of England to meet.
  • Japan releases its monthly economic report.

 

The basket of goods which determines inflation is set to change. Credit: Getty

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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PMQs review: Jeremy Corbyn turns "the nasty party" back on Theresa May

The Labour leader exploited Conservative splits over disability benefits.

It didn't take long for Theresa May to herald the Conservatives' Copeland by-election victory at PMQs (and one couldn't blame her). But Jeremy Corbyn swiftly brought her down to earth. The Labour leader denounced the government for "sneaking out" its decision to overrule a court judgement calling for Personal Independence Payments (PIPs) to be extended to those with severe mental health problems.

Rather than merely expressing his own outrage, Corbyn drew on that of others. He smartly quoted Tory backbencher Heidi Allen, one of the tax credit rebels, who has called on May to "think agan" and "honour" the court's rulings. The Prime Minister protested that the government was merely returning PIPs to their "original intention" and was already spending more than ever on those with mental health conditions. But Corbyn had more ammunition, denouncing Conservative policy chair George Freeman for his suggestion that those "taking pills" for anxiety aren't "really disabled". After May branded Labour "the nasty party" in her conference speech, Corbyn suggested that the Tories were once again worthy of her epithet.

May emphasised that Freeman had apologised and, as so often, warned that the "extra support" promised by Labour would be impossible without the "strong economy" guaranteed by the Conservatives. "The one thing we know about Labour is that they would bankrupt Britain," she declared. Unlike on previous occasions, Corbyn had a ready riposte, reminding the Tories that they had increased the national debt by more than every previous Labour government.

But May saved her jibe of choice for the end, recalling shadow cabinet minister Cat Smith's assertion that the Copeland result was an "incredible achivement" for her party. "I think that word actually sums up the Right Honourable Gentleman's leadership. In-cred-ible," May concluded, with a rather surreal Thatcher-esque flourish.

Yet many economists and EU experts say the same of her Brexit plan. Having repeatedly hailed the UK's "strong economy" (which has so far proved resilient), May had better hope that single market withdrawal does not wreck it. But on Brexit, as on disability benefits, it is Conservative rebels, not Corbyn, who will determine her fate.

George Eaton is political editor of the New Statesman.