The cost of green
[Re: Green energy subsidies are failing to deliver cheap low carbon power, yesterday]
Renewable energy, like all good things, costs money. That politicians like Dominic Raab allow the energy companies to pass the cost straight to the consumer is a symptom of political weakness, not that the intention is wrong. Decentralised energy production, not shale gas or nuclear energy, is the future for Britain.
The reason behind the declining efficiency of renewable energy doesn’t matter. What matters is that it has declined. It shows how uneconomic renewable energy sources are – unless they are subsidised by consumers.
French tax exodus
[Re: French tax exodus accents London’s continued allures, yesterday]
As if we didn’t know socialism doesn’t work. The more Francois Hollande increases taxes, the less revenue he will generate. This is especially true when transferring wealth is just one click away.
London may be better than France, but that’s not saying much. Britain’s relative competitiveness is suffering a long-term decline and our economic rivals are obviously no longer the sclerotic countries of Europe. Yes, 45 per cent income tax is better than 75 per cent. But it still effectively punishes success.
It’s essential we restore the reputation of financial services, given its importance to the UK economy and our global lead.
UBS Libor fine in context. It will widen the bank’s fourth quarter net loss. But it will not need to raise new capital.
The argument against elected commissioners was that they’d politicise the police. Looks like that’s happened already.
Once Britain and the US leave Afghanistan, the Taliban will come back and we all know it.