The global financial crisis 10 years on: A timeline of the global events that shaped the crash from the credit crunch to the recession and beyond August 7, 2018 Ten years ago this week the credit crunch started to bite. Take a look back at the global events that shaped one of the biggest recessions in history. Early tremors: February to June 2007 Early signs of trouble build, but are mostly missed. The giant Freddie Mac, also know as the Federal Home Loan Mortgage [...]
Britain’s perception of immigration improves dramatically July 10, 2018 British people's perceptions of the impact of immigration improved markedly between 2015 and 2017, according to an authoritative survey published today. The British Social Attitudes (BSA) survey, which canvasses the opinions of almost 4,000 respondents, found that 47 per cent of Britons think that immigration has a "good" impact on the economy – a striking [...]
UK keeps crown as best in Europe for financial services investment July 9, 2018 The UK has kept its crown as the top location in Europe for financial services investment, despite Brexit uncertainty causing projects to decline. In 2017, UK financial services brought in 78 foreign direct investment (FDI) projects, higher than any other country in Europe, although it was down from record levels of 106 the year before. [...]
Taxes are too high and too complicated – it’s time for urgent reform July 9, 2018 A week ago, this newspaper bemoaned the government's drift towards tax rises – and the lack of any proper low-tax Tories coming to the fore. Without a doubt, Jeremy Corbyn's Labour has shifted the Overton Window (the range of policies deemed acceptable by politicians) and the debate now largely concerns which taxes to raise and [...]
Bank of England bosses criticised for £390,000 expenses bill June 26, 2018 The expenses bills run up by two of the Bank of England's top officials were today described as "staggering" by an MP. The Bank employs multiple members of its financial policy committee (FPC), which seeks to protect financial stability, who live in America. The central banking bigwigs have run up big expenses bills. Simon Clarke, [...]
Central bankers warn of recession risk from ‘debt trap’ to global economy June 24, 2018 The global economy risks falling into a “debt trap” in developed markets and particularly in China, according to a warning issued today by an influential central banking body. The Bank for International Settlements (BIS) said nations must tread a “narrow path” to avert disaster in the next slowdown, in its annual report on the state [...]
Bank of England must hold interest rates and wait for signs of a rebound says shadow MPC June 20, 2018 City economists are all but certain the Bank of England will not announce a rise in interest rates tomorrow, with City A.M.’s shadow monetary policy committee (MPC) voting unanimously to hold fire. The Bank’s top economists have made it clear that they see rising upward pressures on wages, a key component of domestically generated inflation, [...]
DEBATE: Greece is the EU’s former problem child, but is it now finally out of the woods? June 20, 2018 Greece is the EU’s former problem child, but is it now finally out of the woods? Emiel van den Heiligenberg, head of asset allocation at Legal & General Asset Management, says YES. Greek GDP data for the first quarter brought good news: year-on-year growth has increased to 2.3 per cent, the strongest since mid-2008. That [...]
The NHS needs reform and automation, not a politically motivated bidding war June 19, 2018 It was the worst kept secret in Westminster, but we finally heard over the weekend that the NHS will receive a funding boost of around £20bn a year. As with public sector pay increases, the Conservatives perhaps feel that they have to loosen the purse strings a little, given the scare they got at the [...]
We are living longer – perhaps we should all be working longer too June 19, 2018 By the year 2030, it is estimated that there will be just 2.3 working age adults in the EU for every person over 65. The demographics of the developed world are changing, and policy is struggling to keep up. British people are living longer – and this is surely to be celebrated. But as life [...]