Brussels’ plans to cap bonuses will be a disaster for London February 18, 2013 ONCE again, Britain is about to shoot itself in the foot. The latest proposals from Brussels – this time, to impose a cap on bank bonuses – look like they may shortly be nodded through, with George Osborne seemingly too frightened by anti-City sentiment to block them. Bonuses may have to be no more than [...]
We need a consumer revolution to deliver lower utility prices February 17, 2013 POLITICAL ideas have always been cyclical. When incomes are falling, the economy is flatlining, credit is scarcer, prices are rising and it is hard to find work, the public always turns against capitalism (or the mixed economy corporatism that these days passes for it); in boom times, it tends to be more relaxed about [...]
Tax onslaught from Labour and Brussels will destroy jobs February 14, 2013 IF it moves, tax it; if it doesn’t, subsidise it; and above all make sure the tax system is as complicated as possible. That, and a nasty dose of class war and anti-finance prejudice, has become the new modus operandi for many in Britain and Europe. As a result, yesterday was one of the worst [...]
Stagnant growth and high inflation crippling take home pay February 13, 2013 IF you have lots of debt, own a home in London with a mortgage, are employed and hope that your wages will rise, you may be one of the great winners of our age. If you are self-employed, work in the private sector, have lots of savings and have limited control over your income, you [...]
Work placements for the unemployed make a lot of sense February 12, 2013 UNEMPLOYMENT remains obscenely high in today’s stagnant Britain, and far too many people – young and old – have been on the dole or on other out of work benefits for far too long. Anything that allows them to break out of their present predicament should be welcome. The government should be able to ask [...]
Horse row no laughing matter – but NHS scandal even worse February 11, 2013 IF you agree to sell something, it is your responsibility to ensure that the product or service you deliver is exactly the one you and your customer agreed to. That applies to financial products just as much as to food. That is why I disagree with those who believe that the horse meat “contamination” row [...]
Stealth hike in inheritance tax not the answer to care crisis February 10, 2013 ONCE again, I find myself disagreeing with the government. The coalition is about to introduce a £75,000 cap on the cost of social care for the elderly, in an attempt, or so it claims, to ensure that people no longer have to sell their homes to pay for help when they become very old. It [...]
Mark Carney will be more of a reformer than a revolutionary February 7, 2013 THERE is no doubt that Mark Carney will be a breath of fresh air at the Bank of England, and will make many useful changes, especially in terms of culture and management style. His appointment will also ensure that there is a single, simple line on financial regulation, one which is very tough – he [...]
Coalition mishandles its response to Libor and NHS scandals February 6, 2013 NO wonder trust is at a low ebb in Britain today. Two major institutions – RBS and the NHS – have been shown to have failed. We devote much of our front page to some of the shameful emails sent by the traders involved in the Libor rate-rigging scandal; this has been another disastrous day [...]
We will have to save far more as investment returns dwindle February 5, 2013 IF you have savings, which asset class you choose to allocate your wealth to is one of the most important decisions you will ever make. It is vital to look at very long-term returns, and there is no better place to find this information than Credit Suisse’s global investment returns yearbook, published today. Over the [...]