As the UK inflation rate falls back to zero per cent, does this reinforce the case for keeping interest rates low? September 15, 2015 Ruth Miller, UK economist at Capital Economics, says Yes We probably haven’t seen the back of negative inflation in the UK. Petrol prices have fallen further this month. The British Gas price cut will show up in September’s figures. Meanwhile, the strength of sterling should continue to put downward pressure on import prices. Admittedly, the [...]
Federal Reserve US interest rates hike: This is no Doomsday for emerging markets – The City View September 14, 2015 The prospect of a Federal Reserve rate hike looms large. On Thursday we will learn whether nearly 10 years of record low interest rates in the world’s largest economy are finally over. The date is a landmark because for much of this year consensus among economists has been for a September lift-off. The [...]
Yes, Jeremy Corbyn’s far left shadow chancellor John McDonnell is a joke – but the threat he poses is all too real September 14, 2015 "Know Your Enemy" is advice worth heeding. And it is particularly appropriate for those of us who believe in free markets when faced with the new shadow chancellor John McDonnell. For it would be easy simply to dismiss him as a far left nutcase. Not because he is not far left (he is). Not [...]
Labour has rejected its own legacy of NHS reform – with sad implications for patients September 14, 2015 "New Labour officially dead and buried", tweeted Daily Politics presenter Andrew Neil as the Labour leadership election results came in. Writing for the Guardian, general secretary of Unite the Union Len McCluskey also interpreted Jeremy Corbyn’s victory as “three parts optimism and one part repudiation of the ‘New Labour’ past”. It is hard [...]
Fit for the digital age: Why we’re not publishing paper copies of our annual report September 14, 2015 As a firm advising clients on regulatory disclosure, transparency and getting digitally fit for the future, corporate reporting is a major focus for PwC. Having produced a traditional print and pdf annual report for several years, this week we published something decidedly different. For the first time, we’ve released our annual report solely in a [...]
As Jeremy Corbyn is criticised for his male-heavy shadow cabinet, has Labour got a woman problem? September 14, 2015 Atul Hatwal, editor of Labour Uncut, says Yes Boy oh boy, Labour really has a woman problem. No woman deemed able enough to fill any of the big jobs. A commitment from Jeremy Corbyn that half of his shadow cabinet would be women already broken, with just 10 women appointed out of 22 full members. [...]
Venezuela’s “dear comrade” Jeremy Corbyn puts Labour’s moral authority at risk – The City View September 13, 2015 It's Saturday afternoon in a central London pub, and a newly victorious Jeremy Corbyn can be found leading supporters in a rousing rendition of The Red Flag. At the same time, just under 5,000 miles away, Venezuela’s opposition leader Leopoldo Lopez is beginning a 13 year prison sentence after a court of questionable legitimacy [...]
EU migrant crisis: Don’t close the borders – why Germany needs the refugees September 13, 2015 “Give me your tired, your poor, your huddled masses, yearning to breathe free” – Inscription on the Statue of Liberty Having so recently played the part of the hard-hearted, skinflint uncle to a tee in the Greek crisis, it has been a profoundly pleasant surprise to see Germany behave in such a generous manner [...]
EU refugee crisis: From migration to capital movements – the City thrives on openness to the world September 13, 2015 A 2,000 mile round trip to Lithuania, quickly followed by another round trip of 7,000 miles to Washington, means that I will be spending a large part of this coming week travelling. But this time spent up in the air gives me a good opportunity to reflect on the challenges and opportunities that the City [...]
Jeremy Corbyn’s win is a disaster for Labour but the counter-revolution may come sooner than you think September 13, 2015 Jeremy Corbyn’s election as leader is a disaster for the Labour Party. It’s a particular disaster for those who believe that a party should select a leader who is a potential General Election winner and credible Prime Minister. And that a positive relationship with the businesses who create wealth and jobs, and pay the taxes [...]