Proposals to put the Fed on autopilot are a rules-based recipe for disaster July 28, 2015 Would you be happy if the cabin crew announced that the plane you were about to take off in had no pilot, and was going to be flown solely on autopilot? My guess is no. Even though flying is a fairly routine and mechanical process, you still need the peace of mind that a human [...]
Technology is replacing school ties in companies’ battle to keep their employees honest July 28, 2015 The activities of the House of Lords are very much in the news at the moment. But the members do carry out serious work, not least on the Economic Affairs Committee. Earlier this month, Lord Green, former chairman and chief executive of HSBC, appeared before them. Yes, the noble Lord admitted, the bank had not [...]
With GDP per head back at pre-crisis levels, should the Bank raise interest rates now? July 28, 2015 James Sproule, chief economist at the Institute of Directors, says Yes Inflation may be hovering around zero, but that is no reason for the Bank of England to hold interest rates. An economy with quarterly GDP growth of 0.7 per cent, unemployment at 5.6 per cent and real wage growth of around 3 per cent [...]
Britain’s global influence will fade if it turns itself into an Atlantic Singapore July 27, 2015 President Obama’s carefully chosen words last week are a reminder of what is at stake in the forthcoming referendum on Britain’s place in Europe. Known to be a cautious and contemplative leader, the President spoke directly to the British people with a very clear message: the UK’s membership of the European Union “gives us much [...]
Donald Trump’s fairy tale economics is bad for his party and terrible for America July 27, 2015 The Republican Party must be tearing its hair out. For years, visitors from the US have extolled the strength of the party’s potential Presidential candidates for 2016. The pack is certainly more impressive than in 2012 and, with the exception of one or two candidates, they are ostensibly advocates of relatively free market policies. In [...]
Tough love: Britain could slash unemployment by time-limiting benefits July 27, 2015 Most talk of welfare is about how much we spend. Far too little is about how we actually spend it, but this is what really determines whether it does what we want or not. Jobseeker’s Allowance (JSA) is a very small part of the £217bn per year we spend on welfare, costing around £5bn annually. [...]
With his Asia trade mission in full swing, should David Cameron be playing the salesman for the UK? July 27, 2015 Allie Renison, head of Europe and trade policy at the Institute of Directors, says Yes. Ultimately, it is businesses themselves that will increase the volume of the UK’s international trade, but politicians also have a role to play in bringing British firms and foreign governments together to discuss facilitating the flow of goods and services. [...]
Creeping UK isolationism will continue unless we face up to Tony Blair’s dire legacy July 26, 2015 Barcelona – As he frantically tries to stop his party consummating its suicide pact with the highly gormless Jeremy Corbyn, it is suddenly easy to remember why former Prime Minister Tony Blair was a giant among pygmies during his reign as the most talented politician of his generation. Eerily able to comprehend Middle England, Blair [...]
Air pollution is the scourge of the City: We all have a role to play in tackling it July 26, 2015 London’s air pollution is making thousands more people die early each year” and “time to transform London’s air quality” have been some of the more stark headlines in recent weeks. As air quality in London – and the impact on the health of the capital’s residents and workers – continues to pique the interest of [...]
David Cameron’s south east Asia tour: The UK needs a step change in its ASEAN trade July 26, 2015 As David Cameron tours south east Asia this week, he can take heart from the recent experience of an iconic British brand which resonates all over the world. Liverpool football club spent last week in Malaysia, with manager Brendan Rodgers commenting that “it’s been incredible to see the support we’ve received.” This was reflected in [...]