Welfare of Nations: Our debate about the future of the state is worryingly parochial April 6, 2015 In the aftermath of the Cold War, we were told that capitalism had won. Communism had been defeated, and we were entering Francis Fukuyama’s “End of History” – with capitalist liberal democracies the highest, and final, form of human government. But what if “capitalism” versus “communism” was always a false dichotomy? What if the truly [...]
Mythbusting Nigel Farage: Why immigration doesn’t erode social cohesion and trust April 6, 2015 The political scientist Robert Putnam famously found that Americans “hunker down” in the face of social diversity, doing less in the community and trusting people less – even their own compatriots. When Nigel Farage suggested that one reason kids tend not to play on the street nowadays was immigration, he was voicing a common concern: [...]
Have brands “hijacked” Easter? I’d say it’s an egg-cellent idea April 5, 2015 It’s funny how we so often link food to religious events: hot-cross buns on Good Friday; Pancakes on Shrove Tuesday and Simnel cake during Lent. So who could blame brands trying to do the same thing: Coco-Cola’s land-grab for the Christmas holidays – and, more relevant to this time of year, Cadburys' chocolate egg-gifting [...]
General Election 2015: The leaders’ TV debate Achilles heels April 2, 2015 No-one's perfect – and all seven of the party leaders in this week's TV debate are no exception. These are the chinks in their armour. David Cameron: A tense prime minister After doing his best to avoid the debates altogether, the Prime Minister must work hard to convince viewers he really wants to be there. [...]
HSBC’s next headache is relocation, relocation, relocation April 1, 2015 If Douglas Flint had a tenner for every time he had been asked about the future location of HSBC’s headquarters, he’d have almost enough to pay its contribution to the bank levy by himself. Flint has many other things on his mind right now: the reputational fallout from the Swiss tax evasion affair, sluggish returns [...]
Political risk is rising globally – with worrying consequences for markets April 1, 2015 Uncertainty about global and domestic politics is greater today than it has been for some years. It is therefore inevitable that political risk will play a more prominent role in capital market investment decisions than it has done for many years. Political risk is not a new phenomenon in markets. As early as 1294, the [...]
UK house prices: We can ramp up housebuilding by turning offices into flats – if the planners let us April 1, 2015 The UK suffers from an acute housing shortage, and this has led to prices outpacing incomes in nearly every year since the early 1990s. Most government initiatives to address this problem, however, have merely resulted in greater demand for properties. In fact, the only way to tackle the issue properly is to increase supply. But [...]
Forget NHS romanticism: Market-based healthcare is far better for patients April 1, 2015 Nigel Crisp knows the NHS better than almost anyone. In his role as its chief executive (2000-2006), he oversaw the formulation and, partly, the implementation of transformative reforms. His book “24 hours to save the NHS” can serve as an antidote to the popular penchant for “NHS romanticism”, because in parts it is a story [...]
After 103 business leaders came out in support of the Tory Party, were they right to intervene? April 1, 2015 Ben Page is chief executive of Ipsos MORI, says Yes The views of business leaders and major employers do matter, and we know that 86 per cent of the FTSE 500 think that a Conservative government would be best for business. It’s a free country and freedom of speech matters. But despite the party having [...]
Labour’s corporation tax plans would be a disaster for investment and growth March 31, 2015 The most important challenge facing the British economy today is finding ways to increase productivity growth. So it was particularly disappointing to hear shadow chancellor Ed Balls confirm yesterday that Labour would increase corporation tax to 21 per cent if it wins the General Election. Even worse, instead of then pledging to keep the tax [...]