Restricting skilled worker visas will hit the economy and harm UK-Commonwealth relations January 21, 2016 The government risks further alienating skilled Commonwealth nationals who work in the UK with proposed changes to the Tier 2 skilled worker visa regime, which, if put into practice, will undermine Britain’s future economic prosperity. Currently, it is policy to reduce net migration to the tens of thousands; however, under EU law, the UK is [...]
Abolish bank deposit protection to make the banking system safer January 21, 2016 Deposit insurance has been the most sacrosanct component of the regulatory regime for banks since it was widely introduced during the 1970s following the collapse of the Bretton Woods regime. However, while it seeks to protect consumers against the undercapitalisation of banks and their tendency to collapse in times of stress, it has also encouraged [...]
Crashing markets don’t herald a descent into global recession January 21, 2016 So the FTSE 100 has joined a wide range of global equity indices now in a bear market. Having peaked in excess of 7,100 in April 2015, the rout in commodities has dragged the index of the UK’s 100 leading shares steadily down over the last nine months. To date there have been three notable [...]
With Sarah Palin backing him and the polls tightening, will Donald Trump win the Republican nomination? January 21, 2016 Ed Bowsher, senior analyst and joint output editor at Share Radio, says Yes. Donald Trump will probably win the Republican nomination. He’s leading nearly all opinion polls, with 37 per cent support among Republican voters, according to HuffPost Pollster. Granted, the mainstream Republican party will eventually coalesce behind one relatively moderate candidate, most likely Marco Rubio. [...]
Brics foundations are proving to be shaky January 20, 2016 In the world of macro-economics, a good rule of thumb is as follows: whenever you read the word “forecast”, replace it with the word “guess”. This advice came to mind yesterday when the International Monetary Fund (IMF) published the latest update to its world economic outlook, a document that contains some astonishing revisions. Brazil is [...]
Davos: Businesses will wither and die if they ignore the coming technological paradigm shift January 20, 2016 It might be tempting to think that the World Economic Forum (WEF) in Davos this week is a talking shop where nothing meaningful happens. You have 2,500 people in the mountains going from presentation to reception to dinner for three days. But the event is a vital way for business, policy-makers and civil society to [...]
China is drowning in private sector debt: There’s no telling how this one will end January 20, 2016 The eyes of the financial and economic worlds are now fixed on China, with focus predominantly on Chinese stock markets and the country’s GDP figures. A fascinating perspective was provided last week in the leafy borough of Kingston upon Thames. The university there has recruited the Australian Steve Keen as head of its economics department, [...]
As Penguin scraps degree requirements for all jobs, should other employers follow suit? January 20, 2016 Maggie Stilwell, managing partner for talent at EY, UK & Ireland, says Yes. To modernise the workplace, fit for the present and future, major employers must take a long hard look at their recruitment processes, which are often outdated. With many citing a skills shortage as a major threat to their growth plans, it’s time to cast [...]
Elites need to beware of angry anti-EU voters January 19, 2016 One of the main criticisms of the European Union is that it is a project of the elites. Such a view is not hard to justify. Just look at the contempt with which the EU holds public opinion. On the night of the 2005 French referendum on the proposed EU Constitution, Jean-Claude Juncker (then Prime [...]
India holds rich opportunities for the City – if we sustain reform momentum January 19, 2016 The deep cultural, economic, political and social bonds between the UK and India are longstanding. But this week the partnership between India and the UK will reach another significant milestone, as chancellor George Osborne and the finance minister of India meet in London for their latest bilateral Economic and Financial Dialogue to discuss priorities for 2016. [...]