I have no love for the EU – but leaving would only undermine the UK’s vibrant startup ecosystem April 20, 2016 They say the convert makes the strongest evangelist. As a naturalised Brit who has called London home for almost his entire working life, I feel a particular passion for the United Kingdom. I think we live in one of the greatest countries the world has ever known, and I am hugely bullish about our future. [...]
As the Queen celebrates her ninetieth birthday tomorrow, is the country a better place than it was 90 years ago? April 20, 2016 Stian Westlake, executive director of research at Nesta, says Yes. If you hopped in a time-machine and went back to 1926, the first thing that you’d notice is how much poorer Britain was. Real GDP is 5.8 times lower than it is today. What’s more, the UK has already lost its industrial edge to upstarts in [...]
UK house prices: The government could tackle the country’s housing deficit – but it has a vested interest in choking supply April 19, 2016 We need more housing to be built in the UK. That’s a quite indisputable statement that everyone I speak to in the property industry, in the public sector, amongst charities and at the dinner table, agrees with. The population of Britain increases by around 500,000 people each year largely due to positive net immigration but because people are [...]
London housing crisis: Build up, build out – or accept weaker growth April 19, 2016 There's no accounting for taste. A new 30-storey block of flats on Edgware Road will either be “a monstrosity”, according to some local objectors, or “a vital way of providing the homes London needs” according to Priced Out, a campaigning outfit that calls for an end to the housing crisis. The development was given the green [...]
The Treasury has it entirely wrong: The British economy would gain from Brexit April 19, 2016 The Treasury has produced its 200-page report about the effects of Brexit on the economy. Predictably, it is highly negative. It is sad that the Treasury, for which I once worked for a few years, has become so politicised that it is reduced to rationalising the views of George Osborne. The modelling methods it has [...]
Don’t fear falling tech firm valuations: This isn’t a repeat of the dot-com bust April 19, 2016 Is tech overvalued? Are we heading for another painful bust? If you only read the headlines and looked at the numbers, you might believe that. After reaching record levels, some tech startup valuations are falling. And with global economic conditions looking gloomy again, those valuations might drop further. Together with my partner Steve Schlenker, I [...]
President Dilma Rousseff’s impeachment is no coup – but Brazil’s best chance of saving itself April 19, 2016 Late on Sunday evening, the lower house of the Brazilian Congress voted by a two to one margin in support of the impeachment of Dilma Rousseff, the former Marxist guerrilla who has served as the country’s President since 2011. The proceedings, conducted against the backdrop of a spiralling public debt crisis and rising unemployment, are [...]
As its latest talks in Doha end in complete failure, has oil cartel Opec now lost all credibility? April 19, 2016 William Lamond, senior investment manager at Canaccord Genuity Wealth Management, says Yes. November 2014 – Saudi Arabia (Opec’s only true swing producer) decided to defend market share instead of cutting production to support pricing. The belief? A short-term weakness in crude oil prices would significantly reduce non-Opec supply. Sixteen months later, crude oil prices have fallen, [...]
Shadow chancellor John McDonnell seems to be transformed – is he the real power behind Labour leader Jeremy Corbyn? April 18, 2016 Firebrand shadow chancellor John McDonnell has undergone a transformation in recent weeks. Whereas Jeremy Corbyn remains every inch the protester (albeit one with a bigger stage to play on) McDonnell has adapted to his new office with a professionalism that eludes his leader. The central complaint among Labour insiders is that Corbyn just isn't very good [...]
Five Eyes: This intelligence-sharing pillar of UK security is in peril if we stay inside the EU April 18, 2016 The true nature of how the intelligence world works is far from the James Bond potboilers beloved of us all. In practice, the intelligence arena is far more bureaucratic, far more organised, and far more important than the fertile, fevered imagination of Ian Fleming. And quite possibly the most important cog in the wheel of [...]