Punitive tax hikes jeopardise UK banks’ competitiveness September 20, 2015 Benjamin Franklin, one of the founding fathers of the United States, wisely noted that only two things are certain in life: death and taxes. Unfortunately, his observation – or at least half of it – no longer holds true today. When it comes to banking, uncertainty on tax has become a serious concern. [...]
As it decides to leave interest rates on hold this month, will the Federal Reserve hike at all this year? September 20, 2015 Dario Perkins, chief European economist at Lombard Street Research, says Yes. Janet Yellen is signalling that the Federal Open Markets Committee (FOMC) is now close to raising interest rates and probably would have done so last week had it not been for jittery markets and widespread speculation about a global economic slowdown. I suspect she [...]
Labour leader Jeremy Corbyn’s and shadow chancellor John McDonnell’s socialist policies ignore economic success story – The City View September 17, 2015 This has been a week of baffling contradictions. On the one hand, we learnt that wage growth is at its highest since 2009 (at 2.9 per cent) and that the employment rate is at a record high. On the other, we saw the elevation of radical Marxist John McDonnell to the office of shadow chancellor, [...]
Skill shortages are costing the UK £10bn – and will continue to constrain growth September 17, 2015 Is this the recovery in the UK being held back by skill shortages? There is growing evidence that this is the case. The headlines from Wednesday’s labour market statistics focused on a very slight rise in unemployment – 10,000 over the past three months. But over the same period, recorded vacancies went up [...]
As MI5’s chief Andrew Parker warns of a tech terror risk, is new electronic surveillance legislation justified? September 17, 2015 Robin Simcox, a research fellow at the Henry Jackson Society, says Yes The threat posed by terrorism has arguably never been higher. Yet in recent years, UK intelligence agencies have been increasingly unable to access the data needed to protect national security. These problems have been exacerbated by the Snowden leaks, which led to networks [...]
Federal Reserve interest rates rise decision: Will she, won’t she? Janet Yellen’s hike dilemma – The City View September 16, 2015 It was seven years ago this week that the collapse of Lehman Brothers triggered a global banking crisis. And yet here we are, still speculating about when interest rates will start to return to anything resembling normal levels. Today, the US economy is steaming ahead. Granted, it may be having some trouble due to the [...]
Scottish independence debate: Ignore SNP bluster, Scotland would vote for the Union again September 16, 2015 Today marks the first anniversary of the Scottish independence referendum and you can bet your house we will not be allowed to forget it. Not by the winners, but by the losers, for it is the nationalists who continue to make the most noise as they refuse to accept the democratic defeat they suffered [...]
Jeremy Corbyn’s policies: Labour leader’s statist worldview should be designated public enemy number one September 16, 2015 The gap between the rhetoric and reality of Jeremy Corbyn as a “man of the people” couldn’t be wider. His entire worldview is the antithesis of what is required for long-term prosperity and a rising standard of living. In my, admittedly subjective, opinion, Corbyn’s collectivist, statist, interventionist worldview should be designated public enemy [...]
London housing crisis: There’s a practical way to boost home-building – release surplus public sector land in the capital September 16, 2015 I congratulate Sadiq Khan on being selected as the Labour candidate for London mayor. However, Khan seems to be long on analysis of the problems Londoners face but short on practical solutions. London’s housing crisis is clearly the leading issue at the moment, but all he offers are “new teams” at City Hall without [...]
Fed rate hike: As global markets hold their breath, should the Federal Reserve raise interest rates today? September 16, 2015 Shaun Port, chief investment officer at Nutmeg, says Yes After sending less than subtle messages to financial markets for more than two years that the days of always easy money are coming to an end, it is now time for the Federal Reserve to take the first step and raise rates. A small increase – [...]