How free trade died in the US – and why the same could happen in Britain too August 10, 2016 Two landmark US trade deals look like candidates for the morgue: the 12 nation Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) with the EU. After nearly 70 years at the forefront of efforts to liberalise trade and investment across international borders, the US has done a complete about face, with leaders [...]
Why the post-Brexit economic doom and gloom may have been greatly overdone August 10, 2016 Something quite remarkable happened in the UK economy in June. UK broad money growth M4ex rose 5.8 per cent (year-on-year) – its fastest rate since the introduction of quantitative easing in 2009. Indeed, the growth rate is approaching the 6 per cent baseline for broad money growth that the Bank of England announced was its target [...]
The RMT’s dangerous strikes are a cynical ploy to pave the way for rail renationalisation August 10, 2016 There is no general upsurge of industrial militancy in the UK: the latest figures show both numbers of stoppages and days lost to strikes remain low. The cluster of RMT actions – against Southern Railway/Govia Thameslink (now suspended), Virgin East Coast and Eurostar – will not be a harbinger of a new wave of damaging [...]
Is the IFS right to warn that Britain will be up to £70bn worse off if it leaves the Single Market? August 10, 2016 Denis MacShane, former Europe minister, author of Brexit: How Britain Will Leave Europe and senior adviser at Avisa Partners, Brussels, says Yes. For centuries, the main purpose of British foreign policy was to gain access for British goods, services, and professions to other markets in the world. Britain currently has unfettered access to 500m mainly middle class consumers [...]
The Hinkley Point C nuclear reactor shouldn’t be delayed – it should be scrapped August 10, 2016 Theresa May’s government has put the brakes on Hinkley Point C, the first nuclear power station to be built in the UK in twenty years, with a final decision to be made in September. But the government should stop agonising and cancel the project. There is no commercial or environmental sense in investing billions into a [...]
Sick of the strikes? Job-threatening technology could lead to even more industrial disputes August 10, 2016 The strike bringing misery to thousands of commuters on Southern’s railway line may be merely the start of a wider trend of industrial action throughout the UK. The RMT union has got its tail up and yesterday declared that workers on the Virgin east coast mainline have voted in favour of walkouts, while passenger groups are [...]
Summer reading: Four leading UK economists offer their book recommendations August 10, 2016 With its political and economic ructions, this summer has been anything but sleepy. If you’re looking for some holiday reading to prepare you for the year ahead, City A.M. has asked four of the UK’s leading economists to offer their recommendations. Tim Harford writes the Undercover Economist column for the FT and is presenter of More [...]
Brexit is an opportunity to build a points-based migration system that actually works without crippling the economy August 9, 2016 The debate over free movement rages on since its starring role in the Brexit campaign. With the status of current EU migrants and future talent unclear, a new level of business uncertainty is engulfing UK employers. From tech and creative startups through to the NHS, organisations up and down the country are unsure about what [...]
The CMA missed its opportunity to level the playing field for challengers and end the banking oligopoly August 9, 2016 To deal with a problem, first you need to recognise it. While yesterday’s final report from the Competition and Markets Authority (CMA) on UK retail and SME banking identifies the problems of the market, it has fallen short when it comes to making recommendations that will address the underlying issues. The report makes several constructive suggestions [...]
Move over Joe Root: What England’s greatest ever batsman tells us about how to use statistics August 9, 2016 Cricket fans will be delighted that Joe Root is establishing himself this summer as a truly great batsman. His Test match batting average of 55.49 is bettered by only 16 players from across the world since Test cricket began in 1877. Root currently sits seventh in the England career batting averages, and he clearly has [...]