The end of dreams: Why the EU is finally choosing reality over idealism December 1, 2015 European Commission President Jean-Claude Juncker recently acknowledged that a two-speed – one might say two-tier – Europe is increasingly likely. This marks a significant break from the Barroso Commission, which sought to keep all member states on the same track towards “ever closer union.” Many, rightly, see this change of attitude as a response to [...]
Minority Game: What stock investors can learn from the failure of Black Friday December 1, 2015 Black Friday has come and gone, but the massive surge of shoppers which was anticipated in much of the media failed to materialise. Many retail outlets were quieter than a normal Friday. In contrast, internet shopping went wild. Amazon had its biggest ever day in the UK, selling over 7m items. Argos and John Lewis [...]
Heathrow airport expansion: There’s no need to make a stark choice between a third runway and the environment December 1, 2015 During the summer, the government made a commitment to announce a “final decision” on airport expansion by the end of this year. Since the office Christmas party season has already begun, that deadline is fast approaching. Yet in recent days, there have been reports of possible further delays. This would almost certainly cause investor [...]
With Labour divided on Syria, would losing the Oldham West by-election be the beginning of the end for Corbyn? December 1, 2015 Atul Hatwal, editor of Labour Uncut, says Yes At the General Election, Labour won Oldham West with a majority of almost 15,000. Labour should romp home – but instead the result is on a knife edge. Defeat, or even a narrow victory, would signal the beginning of the end for Jeremy Corbyn. Although he was [...]
The Fed will clear things up for Aberdeen and co. November 30, 2015 Aberdeen Asset Management boss Martin Gilbert was in a bullish mood yesterday, insisting that his firm posted "a great set of numbers considering emerging markets are so out of fashion”. Emerging markets did, indeed, fall out of fashion earlier in the year – largely accounting for the £12.7bn worth of outflows that Aberdeen racked up [...]
George Osborne’s Big Red Book is securing UK prosperity while Maoism gathers dust November 30, 2015 George Osborne set out last week how this government is fulfilling its manifesto promises: delivering financial security on the back of economic growth, and national security in an uncertain world. Coupled with plans to make markets work better for families and firms – like increasing competition so bills come down – he spoke to the [...]
Deficit bias: The chancellor’s fiscal strategy has worrying shades of Gordon Brown November 30, 2015 At the Autumn Statement 2011, the chancellor bore bad news. The independent Office for Budget Responsibility (OBR) had revised down the growth prospects of the UK economy, and revised up how much of the public deficit would not naturally fall as the economy recovered. George Osborne therefore faced a choice: to cut spending or raise [...]
Stamp duty was already a bad tax – the buy-to-let surcharge makes it even more stupid November 30, 2015 Petty, shallow and stupid. That pretty much sums up the government’s new 3 per cent stamp duty surcharge on additional properties, announced by the chancellor in the Autumn Statement last week. Beyond the naked appeal to the public’s envy of second home owners and buy-to-let landlords, there is almost nothing to recommend this measure on [...]
COP21: For all the hype around the climate change summit in Paris, will it actually prove to be a turning point? November 30, 2015 Bob Ward, policy and communications director at the LSE’s Grantham Research Institute on Climate Change and the Environment, says Yes The Paris summit has already proved to be a turning point because more than 180 countries have submitted national pledges to limit or reduce their annual emissions of greenhouse gases over the next 15 years. [...]
Politicians must exert self-control on sugar tax November 30, 2015 George Osborne promised that last week’s Spending Review would set out “far-reaching changes to what the state does and how it does it”. Unfortunately, nobody seems to have told his colleagues on the Health Select Committee, who look to set to embrace recommendations that sugar be subject to a new tax in order to correct [...]