Will government plans to fine firms who give advice on aggressive tax avoidance backfire? August 17, 2016 Mark Davies, managing director of Mark Davies & Associates, says Yes. HMRC’s proposals will fail because they don’t address the fundamental issues. First, consider motive. Nobody likes to pay tax and it is lawful to arrange our affairs to pay the least amount of tax. Second, there is an opportunity to avoid tax because our tax [...]
Rough & the smooth: Sadiq Khan’s first 100 days as mayor of London August 17, 2016 London mayor Sadiq Khan has celebrated his first 100 days in City Hall. So, how’s his mayoralty shaping up? Khan was elected on 5 May, after his rival Zac Goldsmith sank in a pit of his campaign’s own making. The Tory candidate would probably have made a perfectly decent and thoughtful mayor, but his campaign [...]
BT Sport could be bruised as Sky bending it like Beckham to woo football fans August 17, 2016 In past years, I’ve discussed BT Sport’s gradual journey from new challenger to a genuine force in televised sports. As the new football season starts, it’s a good time to look at how Sky Sports, its principal rival, has adapted its campaigns and messaging in an attempt to dissuade subscribers migrating to BT. Once again, [...]
In praise of hedge funds: Why short-term activists create long-term value August 16, 2016 Activist hedge funds are often seen as the epitome of all that’s wrong with capitalism. They cut investment, fire employees, and break contracts to boost the short-term stock price, and cash out before the long-term value destruction comes to light. It’s certainly possible to find examples of this. And such stories make for good journalism [...]
Blame Jeremy Corbyn for the increasing number of public sector strikes August 16, 2016 The total number of working days lost through labour disputes last year was, at just 170,000, the second lowest annual total since records began in 1891. What a difference a year can make. Southern Rail commuters have endured months of misery due to the prolonged series of strikes called by the RMT. Union members on Eurostar [...]
Everyone will benefit from the coming “brain free” car revolution August 16, 2016 Driverless cars are making headlines, with the future of travel revealing itself to be grounded very much in the present. It’s a thrilling time to be in the motor business as trials of new vehicles are gaining momentum. And while it will take time for the technology to be fully rolled out on our roads, completely [...]
With inflation expected to hit 3 per cent in 2017, is the Bank of England right to prioritise growth over price stability? August 16, 2016 Martin Beck, senior economic adviser to the EY Item Club, says Yes. In light of the sharp post-referendum drop in the value of the pound, prices of imported goods are set to increase. As a result, inflation will rise over the next year. As our forecast suggests, CPI inflation is expected to peak at around 3 [...]
Britain can make an Olympian out of its economy with these 10 lessons from Rio August 16, 2016 The Olympics can teach you as much about economics as sport. So here are 10 fundamental economic lessons to take home from Rio: 1. Olympians have fought gladiatorial battles to reach Brazil and the competition is about to get even more intense. In economics, as in sport, competition is critical. The most successful Olympians and the most [...]
Trump and Corbyn are pushing extreme views August 16, 2016 Surveys constantly reveal that a worrying number of Americans believe some absurd untruths, and crackpot conspiracy theories, about their outgoing President, Barack Obama. A poll last year, for example, found that 29 per cent think Obama is a muslim. A respected survey a few years prior put the number at 18 per cent. Republican candidate Donald [...]
I quit government over Heathrow expansion: This is why I changed my mind August 15, 2016 I resigned as parliamentary private secretary to the minister of state at the Home Office and Treasury in 2009 over government proposals for expansion at Heathrow. The plan was unsympathetic to local residents, it ignored concerns about both environmental and noise pollution, and it didn’t offer enough in the way of increased surface access to [...]