Ben ChuVerified account

@BenChu_

Economics Editor | Presenter | Freelance broadcaster | Author | DMs open |

benchu.co.uk
Joined October 2010
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  1. Pinned Tweet
    Mar 16

    Do we really need to 'pay back' coronavirus debt? We're often told that's what we should be worrying about. But is it right? Here's a new video explainer for by me, & expertly produced by Charlie Craven Do check it out:

    15 replies 112 retweets 252 likes
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  2. Retweeted
    7 hours ago

    Breaking free of Brussels bureaucracy was meant to herald a bonfire of red tape for Britain. In the first 100 days of , the only thing many businesses burned was money... Via with 👇

    5 replies 67 retweets 87 likes
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  3. Retweeted
    6 hours ago

    So you want to be a science and technology superpower? That’s cool. Have you considered… improving your nation’s maths skills? Because, in our race to lead the world at stuff, we might have forgotten the UK is quite pants when it comes to numeracy, trailing much of Europe 1/7

    6 replies 9 retweets 39 likes
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  4. Retweeted
    7 hours ago

    Nice thread (and article) on the emergency lending from here. For me, at least the economics of this issue is clear: the gov't had to step in to stop firms running out of cash when Covid hit. But high debts will stop firms hiring+investing -so that is the next challenge.

    What *are* all these emergency coronavirus business loan schemes? And can we trust their integrity? An explainer 👇
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  5. 8 hours ago

    ...Perhaps one of the dangers of the Greensill affair is that it will distract from that crucial economic context and lead to faulty conclusions about the broader merits of these schemes.

    1 reply 2 retweets 2 likes
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  6. 8 hours ago

    ....We also shouldn't rush to the conclusion that the loan schemes were a policy error, given hundreds of thousands of firms really did risk running out of cash last year. "It was the right priority at the time," argues of ...

    1 reply 1 retweet
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  7. 8 hours ago

    ...so we shouldn't jump to the conclusion that wither they are riddled with fraud or that the money will mostly be lost. Experts says we'll get a clearer idea of the share of bad loans when repayment are due to start in May...

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  8. 8 hours ago

    ...but these estimates are: a) very wide b) very uncertain c) don't distinguish between innocent losses and fraud...

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  9. 8 hours ago

    ...Are they corrupted? There have been many reports of bad loans arising from the schemes, based on estimates from BEIS, OBR & the British Business Bank that between 15-80% will not be repaid...

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  10. 8 hours ago

    ...in a nutshell...

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  11. 8 hours ago

    What *are* all these emergency coronavirus business loan schemes? And can we trust their integrity? An explainer 👇

    2 replies 4 retweets 4 likes
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  12. Retweeted
    Apr 12

    I've put together a new Heatmap to visualise the recovery in U.K. GDP (hope you like it). The 0.4% m/m rise in GDP in Feb masked some bigger moves below the surface, with retailers and restaurants recovering despite unchanged lockdown rules, but public sector activity declining:

    3 replies 22 retweets 83 likes
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  13. Retweeted
    Apr 12

    Mixed news for UK trade in February The good: some bounceback after January's collapse. EU trade up 20% in Feb-21 vs Jan-21 The bad: Trade still much lower than in previous years. EU trade 12% lower in Feb-21 vs Feb-20 Non-EU trade down only 1% over same period

    11 replies 115 retweets 151 likes
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  14. Apr 13

    Dip in sterling on Haldane departure news - since recovered though 👇

    1 reply 3 likes
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  15. Retweeted
    Apr 13

    The latest UK 🇬🇧 trade data show a remarkable shift away from the EU 🇪🇺 The EU export share was only 36% in January 2021. This was the lowest share since at least the 1990s. This shift started in 2019, pre-Covid.

    , , and 3 others
    2 replies 8 retweets 13 likes
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  16. Apr 13

    ....if not necessarily *all* the headlines he attracted! Here's an interview I did with "the coming man of British banking" way back in 2013:

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  17. Apr 13

    ....He's certainly had an unusually expansive view of the role of a central banker which has rubbed traditionalists up the wrong way - but he understood the imperative to communicate to a broad public. Suspect the Bank will miss him and his intellectual energy...

    1 reply 4 likes
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  18. Apr 13

    ...He's become a bit of a marmite character in recent years with his headline-grabbing media interventions. But he's a super smart thinker who made major contributions at the Bank first on financial stability and then in his chief economist role...

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  19. Apr 13

    ....Also he's been most bullish voice on the Monetary Policy Committee about the UK economy's outlook - his departure will likely leave it with a more dovish complexion...

    1 reply 1 retweet 5 likes
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  20. Apr 13

    Significant move. Haldane's got the highest profile of anyone at the Bank perhaps even including Andrew Bailey - & he came close to being appointed Governor himself last year...

    2 replies 6 likes
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  21. Apr 13

    NEW: Bank of England chief economist Andy Haldane to leave the Bank in June and become chief executive of the Royal Society of Arts 👇

    5 replies 22 retweets 38 likes
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