General Election 2015: The three bold productivity-boosting policies the Big Three will never touch April 30, 2015 As we approach the General Election, politicians are battling over the question of what is wrong with Britain’s economy. The usual suspects are out in force: “benefit-scroungers”, “fat cat bosses”, “price gouging energy companies” to name but a few. What I find frustrating is the lack of substance behind many of these arguments. Rarely is [...]
Competitiveness: The black hole at the heart of the General Election debate April 30, 2015 With less than a week of election campaigning left, the issue of competitiveness has been notable by its absence. As it’s the foundation for long-term prosperity, I would like to see the political parties championing this cause. Being fans of evidence-based debate, we reviewed the major parties’ manifestos and found just a handful of mentions [...]
It’s time for policymakers to help shadow banking emerge from the darkness April 30, 2015 The term “shadow banking” was first coined in 2007 to describe parts of the financial intermediation process conducted outside the commercial banking system. It encompasses all non-bank credit intermediation, and spans wholesale markets-based finance (such as certain types of investment funds and securitisation vehicles, as well as activities such as securities financing transactions) and alternative [...]
Is a major qualification board’s chief right that pupils should be able to use Google in exams? April 30, 2015 Mark Dawe, chief executive of OCR, says Yes The pupils of today will not be relying on rote learning for success in the workplace. Everyone has a computer available to them and uses search engines; what matters is how they interpret results. We aren’t suggesting that this is a replacement for traditional assessment, but it’s [...]
HSBC looking for greener pastures should not surprise April 29, 2015 The sandwiches and coffee were standard fare at HSBC’s annual meeting. But it took mere minutes for political red herrings to be added to the menu. Take the bank’s confirmation it is reviewing its headquarters’ location. Labour’s attempt to blame HSBC’s action on a Conservative-inspired EU referendum was misguided, but inevitable. Douglas [...]
Nicola Sturgeon’s EU mischief-making is a taste of the political blackmail to come April 29, 2015 Both Sinn Fein and the SNP launched their General Election manifestos last week, demanding that, in any future referendum, all four nations of the UK must agree to leave the European Union before it can happen. If ever there was a policy that claims to be about unity when it is all about fomenting division, [...]
How the UK leads the world on one important measure of competitiveness April 29, 2015 Competitiveness is currently centre stage, with a debate raging over whether the UK could soon overtake Germany to become the largest economy in Europe. However, a closer look reveals that, if we do close the gap, it would be more to do with German demographic decline and euro weakness than UK productivity strength. Competitiveness is [...]
David Cameron is right: We should balance the budget without tax hikes April 29, 2015 The Prime Minister pledged yesterday to introduce a law to prevent increases in income tax, national insurance and VAT for the whole of the next Parliament. While a law may be a crude tool, it does reinforce two crucial points. First, deficit reduction should come primarily from reductions in public spending rather than further tax [...]
After weak growth in the first quarter, is the US still the driving force of the global economy? April 29, 2015 Richard Batley, senior economist at Lombard Street Research, says Yes US growth is going through a soft patch. This was initially the result of the negative impact of lower oil prices. A strong dollar then piled on the pressure. The port strike and a vicious winter also caused expansion to slow. Of all these negatives, [...]
UK Oil & Gas’ share price saga is just another symptom of Aim’s lack of regulation April 29, 2015 Yesterday's revelation that UK Oil & Gas (UKOG) doesn’t yet have permission from the regulator to drill in the Gatwick area will revive the recent saga surrounding claims that there could be 100bn barrels of untapped oil resource in the Horse Hill area once more. With this will, no doubt, come questions once more [...]