Burnham must remember: more regulation is not the best way to improve public services | Phillip Inman
Source: Guardian Econ ↗
In the NHS as in the private sector, the measure of success should be customer satisfaction and not just box-ticking Andy Burnham said he wanted to “rewire” the economy.
Then he seemed to slam on the brakes, kicking most reforms into the 2030s. Local government reorganisation is on hold, along with an overhaul of the much-maligned water industry.
Social care and significant welfare reform are matters to be resolved by the next government. Continue reading...
⚡ Effects Interpreter
🌍World Economylow impact
What this means for you
- ▶Economists will chew this over, and growth forecasts may be nudged.
- ▶Manufacturing hubs overseas may adjust output if demand signals change.
🏙️Local Economylow impact
What this means for you
- ▶Neighbourhood businesses tend to feel big economic shifts eventually.
- ▶Your take-home pay may feel an indirect pull from shifts like this.
🏦Rates & Bankslow impact
What this means for you
- ▶A modest drift in borrowing costs is more plausible than a sharp jump.
- ▶Interest rates and mortgage bills are unlikely to jump straight away from this alone.
❤️Healthmedium impact
What this means for you
- ▶Worry has a way of spreading faster than the facts sometimes.
- ▶Being kind to yourself matters just as much as staying informed.
💷Wealthlow impact
What this means for you
- ▶It might be worth a brief look at your ISA or pension in the coming days.
- ▶Markets have a habit of overreacting first and settling down later.
🏠Housingmedium impact
What this means for you
- ▶A patient seller usually fares better than one rushing to react to headlines.
- ▶Housing chains involving multiple buyers can be sensitive to any wider wobble.
🌍 Effects for your country
The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone — the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in Romania depends more on local healthcare capacity than the figures above.
The UAE's central bank rate currently stands at 3.65%, so a global rates move like this could feed through to local borrowing costs. The UAE's economy is growing at 3.1% with inflation at 2.5%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UAE's own central bank rate closely. Health-system effects are harder to localise from economic indicators alone — the real impact in the UAE depends more on local healthcare capacity than the figures above.