Paul Mason’s Postcapitalism: The left’s unwitting conversion to neoliberal economics August 31, 2015 Unlike many other advocates of free markets, I quite like Channel 4 News economics editor Paul Mason. His journalistic approach, informative yet editorialised towards his own opinions, is compulsive viewing. So when he penned a book on his new idea – “Postcapitalism” – I knew it would be controversial yet worthy of review. [...]
George Osborne’s damaging bank tax changes are a blow to competition in the sector August 31, 2015 Who is taxed, and by how much, is one of the best windows into the mind of any chancellor. Who does he want to help, who does he want to hit, and why? How you raise the money matters just as much as how you give it out. With that in mind, consider [...]
As the limit for contactless payments rises to £30, will we soon live in a cashless society? August 31, 2015 Kevin Jenkins, managing director of Visa UK and Ireland, says Yes. Increasingly, people are choosing to use their cards over cash, and the ease and convenience of contactless has been a key factor. With the transaction limit increasing to £30, people can now use contactless for even more of their everyday purchases. With 75 per [...]
The shale gas revolution will be good for all of Britain – if we embrace it now August 27, 2015 The shale gas debate has been heating up over the past few weeks with two positive announcements from the government. Planning permission will be streamlined and new exploration licenses have been awarded, of which INEOS has won three to add to the 11 we already hold. Obviously, this is fantastic news for INEOS, [...]
China’s greatest crisis since the 1980s promises more dark days ahead August 27, 2015 With more than $5 trillion wiped off global stock markets since 11 August, “Black Monday” this week saw declines of historic proportions, driven by concerns over the Chinese economy. The People’s Bank of China (PBOC) has subsequently cut interest rates and eased lending rules for banks in a much-anticipated move to stem the market [...]
Ignore the immigration rhetoric: Record UK net migration is a cause for celebration August 27, 2015 Listen to the political rhetoric and one thing seems clear: immigration is bad, and we have way too much of it. Every time new migration figures are published, as happened yesterday, politicians call for draconian measures to be introduced to cut the numbers. And yet, with the government’s crude target to get net migration [...]
As new appointments are criticised, has the House of Lords become an embarrassment? August 27, 2015 Katie Ghose is chief executive of the Electoral Reform Society, says Yes We already have the largest chamber in the democratic world and yesterday’s expansion highlights why nobody else has a chamber like it. The growth in size – part of the never-ending arms race to pack the House of Lords with supporters – costs [...]
Jackson Hole: Investors seeking clarity on the US Federal Reserve rate hikes will be disappointed August 26, 2015 As investors start to return from their summer holidays, one date in particular will be looming large in their thinking. The seventeenth of September is tipped by many to be the date when the US Federal Reserve will finally start to hike interest rates as a first step on the long road to “normalisation”. [...]
It’s the right climate to scrap the Department of Energy and Climate Change August 26, 2015 The Department of Energy and Climate Change (DECC) is small compared to other government departments, with a gross annual expenditure of just £5.7bn. However, as the government grapples with how to continue to drive down its deficit, abolishing this arm of the state should be a key priority: it would both provide vital savings [...]
Is WPP’s Sir Martin Sorrell right to “remain a raging bull” in relation to Chinese growth? August 26, 2015 Andy Rothman is investment strategist at Matthews Asia, says Yes China’s stock market has experienced a significant correction, and Beijing engineered a minor devaluation of the RMB, but neither of these events reflect a worse-than-expected slowdown in the real economy, and there are no signs that the A-share correction is having a significant impact on [...]