A big thank you if you have read even one sentence of anything I have written in 2022. Some of the highlights of my year have stemmed from publishing for the first time.
Going into 2023, as well as writing about "what I don't know", I will focus on something I think many of us could do with knowing more about.
There is already a lot written about the UK Economy. Much of it is detailed, complex and inaccessible to most, and it is undoubtedly rarely much fun.
Economics is a complicated subject, but its importance becomes clear once you understand the basics and cut through the acronyms.
For example, once you understand GDP, you can understand why the economy is the primary tool to assess a country's success. The value of goods and services produced by a country is an objective measure to compare countries against one another and, over time, determine a nation's relative strength.
Still, economics and many economic concepts are challenging to understand. When it comes to the UK economy specifically, things are even murkier.
For centuries, the UK has punched above its weight with its economic output. How many of us can confidently explain why? Around 20% of the UK economy is via the production of goods, with roughly 80% coming from services provided. What services? Provided to who? Exactly how did the UK become so successful in finance?
Much of the news today in the UK is centred around the economy. But what % of us understand the stories, or what sits behind them? When the government speaks of needing to "grow the economy", what are they referring to? What exactly needs to grow?
The economy affects us all, and in living memory, perhaps there has never been a time when that is more true. The BBC has a section of its website dedicated to the cost of living, inflation is at 11%, and nurses are striking over pay.
Yet, beneath the headlines, the reasons for the challenges are hard to grasp, and concepts are misunderstood or misreported, from inflation to tax, budgets to interest rates. There is a lack of clear, easy-to-understand information about the UK economy, which is why from now on, my writing will be focused on providing exactly that, in a balanced, clear and (where appropriate) light-hearted and amusing way.
This is important because it affects us all, and I feel we could all benefit from an independent source of easily digestible takeaways on the UK economy.
I also believe that the lack of understanding of how we - as a country - make our money has, over time, significantly impacted the population's mindset. This has led to the development of one of the character traits that means other nations can sometimes look at us with contempt, and in my first FLUKE post , I will look at how the nature of the UK economy has contributed to modern "British Exceptionalism."
In the meantime, you can check out my previous articles on the UK Economy, disguised as episodes of Bob The Builder or Take Me Out, for a flavour of what's to come. I’ve pasted them below.
Thanks for reading, and Merry Christmas - see you all in 2023
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