Five reasons the Anglosphere is more than just a romantic vision – but has real geopolitical teeth December 15, 2016 The Anglosphere, a concept that can trace its lineage back to Winston Churchill’s A History of the English Speaking Peoples, has received renewed interest in the wake of the Brexit referendum. The idea of the Anglosphere has been advanced in recent times by a number of historians, such as Andrew Roberts (A History of the [...]
Brexit negotiations are not a zero sum game – here’s why December 15, 2016 Concern for the UK’s banking industry has spread across the country, marking an awkward (but amusing) shift in sentiment among people who were previously keen to trash the sector. Yesterday, the left-leaning Guardian newspaper splashed its front page on worries that “banks need urgent deal on EU to save jobs”, while last week one of the [...]
US Federal Reserve raises interest rates to target rate of 0.5 to 0.75 per cent, with “gradual increases” to come in 2017 December 14, 2016 The US Federal Reserve has raised interest rates and set the scene for a further tightening of monetary policy throughout 2017. Rate-setting body the Federal Open Market Committee (FOMC) raised the target range for its federal funds rate to 0.5 to 0.75 per cent. The median expectation of FOMC members for tightening showed three further increases [...]
Early Christmas giveaway goes spectacularly wrong for Greece as EU suspends debt support December 14, 2016 The Greek government’s efforts to give its pensioners a big Christmas present has backfired spectacularly, after a key party in its economic bail-out suspended its debt relief programme. Greece’s government, led by Prime Minister Alexis Tsipras, had planned to spend €617m (around £517m) on a bonus payment to the poorest pensioners after protestors were teargassed [...]
Surprise rise in wage growth as unemployment falls – but claimant count rises December 14, 2016 UK wage growth rose more strongly than expected between August and October, hitting 2.5 per cent – beating expectations of a fall to 2.3 per cent. The figure was a rise from 2.4 per cent in July to September. Regular pay, which doesn't include bonuses, rose 2.6 per cent, up from 2.4 per cent in July [...]
A fairy tale of the future: How Brexit transformed Britain… into Germany December 14, 2016 When Britain voted to leave the European Union, few people expected it would result in the UK becoming more like Germany, the country that runs the show. But that’s what ended up happening, and it was in 2017 that the process really began. Industrial strategy was the first step. Theresa May’s government decided that Britain’s [...]
Holdout Remainers’ “delay and pray” strategy is wishing the UK economic harm December 14, 2016 The strategy is perfectly clear. In fact, it has even been written down and elucidated on broadcast media for us. Jolyon Maugham QC (who is seeking to bring a case in the Irish courts questioning the revocability of triggering Article 50) and other hold-out Remainers are now looking to prevent Brexit by making Britain’s negotiating [...]
As MPs debate the idea, should Britain create its own Sovereign Wealth Fund? December 14, 2016 John Penrose, Conservative MP for Weston Super Mare, says Yes. Brexit gives us a once in a generation opportunity to recast the kind of country we want to be. We’ve got an unbalanced, rock-and-roll economy that’s too dependent on consumer spending and doesn’t invest enough for the future. That makes us less economically productive than [...]
Inflation rises to its highest in two years as weak sterling takes its toll December 13, 2016 The UK's inflation rate rose to 1.2 per cent in the year to November, up from 0.9 per cent in October – and beating expectations of 1.1 per cent. That puts it at the highest rate since October 2014, when it was 1.3 per cent. The rise was driven by hikes in clothing prices, motor [...]
As Trump enters the White House, will the Federal Reserve hike interest rates more aggressively in 2017? December 13, 2016 It was Ronald Reagan who warned against inflation in 1984 by describing it creeping “like a thief in the night to rob our savings, rob our earnings, and take the bread off our tables.” It is ironic then that President-elect Donald Trump, who borrowed his forebear’s campaign slogan “Make America Great Again” to win the [...]