The Economist noted recently that four main external forces had driven Poland's remarkable successes: access to subsidies from the EU, the flow of remittances from expats working in the EU, a strong economic environment in the bloc, and starting from a low base. The PIE said that Poland has already received or will soon receive EU funding of €164 billion, which corresponds to nearly twice the country's annual budget. "For us it was in a way like the Marshall Plan and these funds have helped in the implementation of most public infrastructure investments carried out since 2004, including the construction of highways, expressways or sewage treatment plants," Piotr Arak, the director of the PIE, told DW. … [Read more...] about Could Poland catch up with Germany’s economy?
The Great British car sell-off Austin: An underrated classic The Austin Motor Company Limited was a manufacturer of motor vehicles founded in 1905. In 1952 it was merged with Morris Motors Limited in the new holding company British Motor Corporation (BMC) Limited and the Austin name was used until 1987. The trademark is currently owned by SAIC after being transferred from bankrupt subsidiary Nanjing Automotive which acquired it with MG Rover Group in 2005. … [Read more...] about UK think tank looks for bright ideas to reform economy
In a letter to the committee's chairman, Nicky Morgan, FCA chief executive Andrew Bailey said a no-deal scenario "would create significant challenges and risks in terms of firms' readiness, potential market disruption and insufficient public-policy solutions put in place on the side of the EU". … [Read more...] about Brexit: UK economy not ready for no deal, Mark Carney says
There are dozens of freeports around the world – in Africa, Asia, the Americas and even in the EU. And they have a long history here in the United Kingdom. In 1978, Margaret Thatcher’s policy guru Sir Keith Joseph envisaged setting up “areas where the Queen’s writ does not run” to show how economic freedom and deregulation really could deliver prosperity and be a model for further reform. … [Read more...] about Now’s the time to finally get freeports right and reinvigorate the British economy
In dismissing green macroeconomics, the European commission puts its hopes on private finance. The logic is that the state won’t have to pay if the private sector will, provided there is nudging from public funds to “derisk” green investments. Here, the commission seems to have powerful allies, such as institutional investors with trillions ready to be greened. Larry Fink, the head of BlackRock, one of the world’s largest asset managers, recently noted that “we are on the edge of fundamentally reshaping finance” by taking decarbonisation seriously. The turn to green finance is a welcome step given that BlackRock and other global investors have so far behaved more like greenwashing carbon financiers than responsible climate investors: talking green while consistently blocking climate shareholder resolutions. … [Read more...] about The European Green Deal will bypass the poor and go straight to the rich