[RE: Mark Carney will be more of a reformer than a revolutionary, Friday]
This article is thoughtful, but I disagree with its second point. The Monetary Policy Committee’s current inflation target is already quite flexible; it is unclear what would be achieved by formalising flexibility. Mark Carney’s testimony was more candid than the British public have become used to from central bankers. This indicates the importance that he places on open communication – in contrast to Sir Mervyn King. More importantly, Carney was dismissive of nominal-GDP targeting, saying that he remains to be convinced. We can expect a more open style of leadership when he takes office.
The pernicious tax
[RE: Give London back its stamp duty to reinvest in growth, Wednesday]
It is encouraging to read one of London’s deputy mayors putting forward a creative approach in order to address the UK’s housing crisis. Using the proceeds of stamp duty raised in London to build 1m new homes is a good idea. The question is now why can’t the government follow suit and get on board? Stamp duty is a pernicious tax that penalises house sales and purchases. As the Budget approaches, it is now the right time to re-channel some of this money, and start getting new homes built as soon as possible.
Julian Briant, head of residential consultancy, Cluttons
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The system worked. People lobbied their MPs, parliament demanded a lower EU budget, and ministers delivered.
How many expensive years has it taken to for us achieve this small cut in the EU’s budget?
A decent showing by David Cameron on the EU budget. Perhaps he should quit his day job and become a European commissioner.
A 27-hour summit, with 27 EU member countries. Is this an argument against further EU enlargement?
Readers of City A.M.