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 [...]
Why it’s highly unlikely that David Cameron’s immigration crackdown will work May 21, 2015 The government yesterday unveiled its latest plan to crack down on illegal immigration, by making it significantly less attractive for people to remain in the UK, working illegally. To achieve this, it is proposing to introduce a new criminal offence – “illegal working” – together with plans to seize the wages of those working illegally. [...]
Thomas Cook Corfu deaths tragedy: The government must reform paltry damages May 21, 2015 Much has been said about the PR disaster surrounding Thomas Cook’s handling of the Corfu carbon monoxide poisoning, which killed Robert and Christianne Shepherd in 2006. But the case also throws into the spotlight one of the fundamental injustices in English law: the level of damages awarded following a fatal accident. The current level [...]
Entreprise bill: Bigger steps needed to help small companies tackle late payments May 21, 2015 Sajid Javid’s new enterprise bill, announced this week in Bristol, is certainly well intentioned, but it's unlikely to have a significant impact on late payment. Late payments are a silent but significant killer of UK businesses. It is not yet clear what tools the government has to resolve this problem. The third party conciliation [...]
How energy subsidies are teaching the EU an invaluable lesson in competition May 20, 2015 Of all the functions performed by the EU, competition policy is arguably the most important – and where it could stand to do the most good. Unfortunately, many of the Commission’s attempts at trust-busting have been misguided. Last month, for instance, its authorities issued formal charges against Google. And last week, we found out that [...]
The global economy is vulnerable – but we must stop panicking about deflation May 20, 2015 As UK inflation turned negative in April, some took the news as yet more evidence that the spectre of deflation haunts the world economy. Deflation is all too often seen as a dark cloud hovering over the horizon, about to unleash its destructive force. But deflation and depression are not synonymous. The Great Depression in [...]