Hamish McRae

One of the country’s most respected financial journalists and commentators Hamish McRae is an associate editor of The Independent. He was named Business and Finance Journalist of the Year 2006 at the British Press Awards.

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Money spent on the black market, including prostitution and drugs, was included in the recount of economic data

Hamish McRae: Changes in counting GDP growth show that Britain’s recovery was better than we thought

Economic View: If people decided to spend their money on drugs, rather than say, booze, that is their choice

The new prime minister has laid out an ambitious agenda for his first months in office, promising a sweeping overhaul of the electoral and constitutional system to give Italy more stable governments in future

A study of past economic cycles suggests that we aren’t far away from the next downturn

Economic View: Those of us who thought that the amplitude of cycles was diminishing were proved spectacularly wrong

William Hill have reported people betting six-figure sums on the referendum

If Scotland is to gain more freedoms, shouldn’t the same thing happen to the north of England?

Regional self-governance would probably do a better job than our current over-centralised structures

The summer months can mean a economic plateau

Economic cycles stop for no one, even in the month of August

It's been a bumpy summer so far, and we can rely on our politicians not to make things any easier

Hamish McRae: US Inc is pretty chipper, but there will be a correction to the stock market before too long

Economic View: Don’t you love the way in the  US people talk of earnings, whereas we here talk of profits?

The Lada became a symbol of Russia’s failure to keep up with Western economies

Our sanctions will not cripple Russia. It is doing a lot of the dirty work itself

This is not a new Cold War. These new upgraded, “phase three” economic sanctions will not suddenly bring Russia to its knees. But what they will do, coupled with Russia’s response to them, is make it impossible for Russia to escape the middle income trap – stop it from turning itself into a fully developed economy, with all the wealth and other benefits that western Europe enjoys, and its former satellites in eastern Europe are now acquiring.

Our sanctions will not cripple Russia. It is doing a lot of the dirty work itself

Putin's desire to restore past glories of the Soviet Union will lead to economic failure

An oil rig in the North Sea

We have 'recovered' apparently, so why does it still hurt?

Growth is not strong enough to make up the ground lost on living standards, or to pay down debt

Hamish McRae: It’s not a question of if, but when... interest rates have been kept artificially low for long enough

Economic View: Monetary policy has become easier without the Bank of England doing anything

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