Britain isn’t a free market: It’s time to imagine life beyond the state October 28, 2015 One of the most dangerous myths that pervades the political debate today is the idea that “neo-liberalism”, as the left describe it, has a stranglehold over economic policy. Certainly, if we compare the influence of government on our lives today with the early twentieth century, it is very clear that we live in a social [...]
Forget Nordic exceptionalism: Scandinavia grew wealthy despite big government October 28, 2015 I’ve just finished writing a global literature review of the relationship between government size and long-term economic growth. It addresses fundamental questions such as whether or not the relationship is positive or negative, and in which direction the causality runs. Does big government cause lower growth, or does lower growth cause bigger government? The answer [...]
We won’t end the UK’s culture of debt without tackling dire gaps in financial knowledge October 28, 2015 We all have financial ambitions in life: to buy our first car, to buy our first home, or to build a secure and healthy pension pot for our retirement. But while the vast majority of us have financial goals, less than half have a savings plan in place to deliver them. And what many [...]
Is David Cameron right to say that the “Norway option” won’t work for a Britain outside the EU? October 28, 2015 Steven Woolfe, economic spokesman for Ukip, says Yes Spot on David! It’s good you are clear on this. Norway has implemented 99.1 per cent of EU regulations since its 1992 trade deal. That’s 10,000 rules – about five a day. But even Norway’s bad European Economic Area deal is better than our EU membership. Like [...]
Doing Business: The way to beat poverty, even according to Bono October 28, 2015 Something quite astonishing happened a few weeks ago. Bono (yes, that one) told a crowd of businesspeople that he had finally seen the light, and that he now appreciated the importance of trade when it comes to improving the wellbeing of the world’s poor. “I’m late to realising that it’s you guys, it’s the private [...]
Mark Carney’s EU referendum intervention has fuelled the campaign for Brexit October 27, 2015 It was only last week that Bank of England governor Mark Carney gave a speech in Oxford to explain the central bank’s view on the UK’s membership of the EU. But can anyone recall what he said beyond the generalities? Has his intervention added to the sum of human knowledge? And will it make any [...]
Why a sugar tax would be a big fat failure: People are too smart for central planners October 27, 2015 Government ministers have bowed to pressure. They have published a report by Public Health England (PHE) calling for a tax of up to 20 per cent on sugary drinks and foods. If the tax reduced sugar intake in line with the recommendations, it is claimed that more than 77,000 deaths could be prevented in the [...]
Heathrow expansion: Failure to act will kill the government’s Chinese trade ambitions dead October 27, 2015 During Chinese President Xi Jinping’s visit to the UK last week, our government made a flurry of announcements about Chinese investment in infrastructure. From HS2 to nuclear power stations, the Chinese would help modernise the backbone of our economy. So far so good. Notably absent, however, was any mention of aviation. Airport expansion is essential [...]
After UK economic growth slowed to 0.5 per cent in the third quarter, should we be worried? October 27, 2015 Tim Price, manager of the VT Price Value Portfolio, says Yes Not only is growth slowing, but a growing number of companies in the Anglo Saxon economies are issuing profits warnings. Recent “victims” include Adobe, Pearson, Caterpillar, William Hill, and the retailers Walmart and Home Retail Group. The list of casualties is broad and varied [...]
Sadiq Khan shows Jeremy Corbyn how to reach out to business October 27, 2015 On a national level, Labour’s relationship with the business community is under serious strain. The party’s plans for nationalisations, interventions and higher taxes has left many of the country’s employers and wealth creators wondering what ever happened to those on the left who recognised the benefits of a thriving private sector economy. Fortunately, hope is [...]