Britain needs an industrial strategy – and it doesn’t mean picking winners May 26, 2015 The Queen’s Speech today will outline how the new Conservative government will put the contents of its pre-election manifesto into practice. It will contain many measures, including an EU referendum bill that will attract a lot of attention. But the big question is this: how will the new government meet the tax and spending commitments [...]
Central planners don’t get incentives – but markets can be faulty too May 26, 2015 Perhaps the most enjoyable outcome of the General Election is the abuse now being heaped on the metropolitan liberal elite from many quarters. Theirs is truly a difficult mindset to comprehend, based as it is on an unshakeable belief in their own omniscience. Yet this is confounded on an almost daily basis by the response [...]
EU referendum: London banks may flock to Dublin but Brexit wouldn’t be all positive for Ireland May 26, 2015 If the UK leaves the EU, the impact will be felt far beyond its borders. Indeed, one country that will be particularly affected is Ireland. In the short term, there will be a painful economic dislocation, as the two close trading partners adjust to the UK’s new status. But it could be far more positive [...]
As Ryanair’s profits soar, are analysts right to attribute it to its new customer-friendly policy? May 26, 2015 Milorad Ajder is managing director of the Ipsos Mori Reputation Centre, says Yes The penny dropped for Ryanair when it was forced to issue a profit warning in September 2013. Until then, it had prospered on the back of a no-nonsense offer, where price was the only thing that mattered to customers. All well and [...]
Despite Obama’s silver tongue, the future of Iraq is looking pretty bleak after fall of Ramadi to Islamic State May 25, 2015 No Mr President, losing Ramadi is not a “tactical setback” – it is a catastrophe. Having also got by on my wits in graduate school, I always had a sense that I understood the elusive failings of Barack Obama far too well. When he obfuscates, he does so elegantly, often speaking in half-truths, illustrating his [...]
Thatcher and the crisis: It’s time to acknowledge the myth of deregulation May 25, 2015 There is no shortage of commentators who blame Margaret Thatcher’s supposed deregulation of the City for the crash of 2008. But surely it is unreasonable to blame her for events that happened nearly 30 years after 1979. And, on another level, it is a complete misunderstanding of the Thatcher period. I explain this in Thatcher: [...]
Why bankers must be allowed to speak out in their own defence May 25, 2015 Headlines were generated worldwide on last week’s announcement of $5.7bn (£3.7bn) of criminal and regulatory fines against major banks, in the wake of the global FX investigation. Many papers asked the question: “why aren’t these crooked bankers in jail?” But a better question might be: has any of the five UK and US regulators involved [...]
Could an early EU referendum scupper the UK’s chances of a successful renegotiation? May 25, 2015 Brian Monteith, communications director of Global Britain, says Yes. An early referendum helps only the most slavish one-European-state federalists supporting the unreformed status quo. Time is needed to first convince the EU that treaty change is required, so it can be enshrined in law. Second, to secure detailed change, not sound-good slogans that are just [...]
General Election 2015: Has Nigel Farage damaged “brand Ukip”? May 22, 2015 Nigel Farage was one of the founding members and leader of Ukip in 2006, but it wasn’t until he returned as leader in 2010 that he began to inject a modicum of acceptability into the party. Prior to that Ukip was so right-wing that it was considered by many to be a party of [...]
Clicks vs bricks is gone: Even savvy e-commerce firms need to do both May 21, 2015 The retail industry is in a state of flux. Consumers and technology are driving fundamental changes. And now, the line between in-store and online is increasingly blurred. When online shopping began to gain popularity, the future of retail was painted by numerous commentators as being a battle: clicks versus bricks. But recent events [...]