The World’s Middle Class Is About to Boom

A fascinating study by Brookings’ Homi Kharas on the future of the global middle class. “The next decade could see a faster expansion of the middle class than at any other time in history. Within a few years, based on current forecasts, a majority of the world’s population could have middle-class or rich lifestyles for the first time ever,” he writes. “Globally, the middle class is already spending $35 trillion annually, and could be spending $29 trillion more by 2030, accounting for roughly a third of projected GDP growth.”

UK BUDGET — DON’T EXPECT ANY BIG BANGS:  The consultancy FTI told clients not to hold their breath in preparation for Wednesday’s U.K. budget from finance minister Philip Hammond. “No one should expect any major surprises. Unlike his predecessors, the sometimes nicknamed ‘Spreadsheet Phil’ is not prone to tricks or gimmickry on the day designed to grab headlines. The occasion will more likely be a sober and serious affair, setting out the challenges ahead,” FTI’s Laura Sainsbury writes.