In defence of Kevin Roberts: The Saatchi chief dared to be honest about gender diversity August 1, 2016 Saatchi & Saatchi chairman Kevin Roberts was placed on an immediate leave of absence at the weekend for supposedly ill-judged and uninformed comments on gender diversity. But those who have jumped on Roberts for saying (among other things) that the debate on gender bias within the advertising industry was “over” have got it wrong. I [...]
Ros Altmann is right: It’s time to scrap the state pension triple-lock August 1, 2016 As with many contemporary policy debates, the furore over the state pension triple-lock has its roots with Gordon Brown. Back in 1999, when Brown was chancellor, the state pension was increased by 75p per week. “Derisory”, claimed pensioner groups. Only “enough to buy a packet of peanuts”, bemoaned national newspapers. Scarred by the backlash, political [...]
The state of Europe’s banks is far from steady August 1, 2016 Bank investors rejoice! The European Banking Authority (EBA) has declared stress tests should no longer be about pushing fresh capital into the system or drilling down into asset quality. No. The good news is that “steady-state monitoring” is what’s needed. So will this provide the assurance investors need? I’m not convinced. Even if stock prices [...]
Let’s park the negativity and remember how incredible the Olympics can be August 1, 2016 Incredibly, it is now less than two weeks until the Olympics starts in Rio de Janeiro. Yet rather than hype, excitement, and expectation, it has been an avalanche of negativity. Rarely has a city been buffeted by so many crises leading up to a major event. London had its wobbles, but our road to hosting [...]
Labour’s love affair with fantasy economics August 1, 2016 In a recent interview Jeremy Corbyn was asked to identify his successes of the past year. Alongside saying sorry for the Iraq war, the Labour leader said “turning the party into one that challenges the economic orthodoxy” comes high on his list of achievements. He may be challenging it, but he's far from forging a [...]
It’ll be Clinton who destroys the transatlantic alliance – not Trump August 1, 2016 I will never vote for Donald Trump. In line with the classic modern American demagogic tradition – from Huey Long to George Wallace – the present Republican nominee often plays fast and loose with the truth. He either outright lies, as when he said large crowds of Muslims were cheering in New Jersey when 9/11 [...]
It’s more vital than ever after Brexit that the Northern Powerhouse is a success August 1, 2016 I have just returned from a tour of the “Northern Powerhouse” cities: Liverpool, Manchester, Leeds, and Sheffield. While this is a trip that nearly all my recent predecessors as lord mayor have made, this programme had added weight following the country’s vote to leave the European Union. It goes without saying that UK trade and [...]
Iceland’s reticence to unwind financial crisis capital controls will prove costly in the long term August 1, 2016 Whether because of the enthusiasm of its football commentators or interest in its EEA arrangement as a model for post-Brexit UK, Iceland has been in the news frequently recently. Its economy has been growing fairly rapidly in recent years, up around 30 per cent from its 2009 trough, though still more than 20 per cent below [...]
As French growth grinds to a halt, is the country’s economic model fundamentally broken? August 1, 2016 Tim Worstall, senior fellow of the Adam Smith Institute, says Yes. France’s economic model is irretrievably broken. Along one axis we have a spectrum of possible economic models. We can have low tax and redistribution market economies and high tax and redistribution ones. Non-market economies do not work. Further, the more we tax and redistribute, the [...]
Legislators must not be fooled by the latest insolvency figures July 29, 2016 The latest insolvency statistics released yesterday by the Insolvency Service paint a positive picture for UK businesses, renewing hopes that struggling firms can gain access to the help they need. However, business owners and legislators must look beyond the figures and act now to prepare for future market shocks. In the second quarter of 2016, the total [...]