As Bank of England minutes reveal a unanimous vote to hold interest rates, should its first hike wait until 2016? January 21, 2015 John Longworth, director general at the British Chambers of Commerce, says Yes The latest MPC minutes make it clear that even the hawks don’t believe there is a convincing case for near-term rises in interest rates, something that UK businesses will applaud. Falling global oil prices, Eurozone uncertainty, sluggishness in emerging markets, and the near [...]
How to overcome the fear of public speaking January 21, 2015 For many people, public speaking is not easy. For some people, it is simply terrifying. Speaking in front a large crowd, particularly of your peers, has been likened to the trauma of buying a house, going through a divorce or going to the dentist. Of course, it is far worse when your career depends on [...]
State of the Union: Barack Obama’s populist tax hikes will hit US investment January 21, 2015 In his State of the Union Address, President Obama proposed raising the top tax rate on capital gains and dividends to 28 per cent from the current rate of 24 per cent. This is up from 15 per cent when Obama took office. Part of the increase came from a 3.8 per cent tax on [...]
2015 World Economic Forum: A collapse in trust is jeopardising the recovery – Davos can help put that right January 20, 2015 In business, and in all walks of life, it is often said that trust is hard won but easily lost. As I head to this year’s World Economic Forum in Davos, which starts today, trust between government, business and the public is in short supply. Since the financial crisis, business has lacked confidence in governments [...]
The Bonus Isa: Why we should make tax-efficient saving even more flexible January 20, 2015 Our ability to save varies considerably within a lifetime. When we can put money aside, the government plays a role in encouraging and influencing how we do it. The last five years have seen some notable increases in the generosity and flexibility of tax-efficient savings vehicles, but this can go much further. That is why [...]
Executive pay: Why I long for the restrained days of Cedric the Pig January 20, 2015 Executive pay is back in the news. The Goldman Sachs pay pot of $12.7bn (£8.3bn) has been prominent. German executive pay has overtaken that in the UK for the first time. Top management seems to have no shame. They get some bad publicity today, but the fat cheque remains safely in the bank. How one [...]
As the EU contemplates imposing a tax on US internet firms, is this a step backwards? January 20, 2015 Charlotte Bowyer, digital policy researcher at the Adam Smith Institute, says Yes Europe is lagging far behind the US in terms of digital innovation. The US’s technology policy champions experimentation and risk, with the presumption that entrepreneurs should be able to try new things without first seeking permission. In Europe, the opposite is the case. [...]
Why socially responsible investing has finally entered the mainstream January 19, 2015 When we come to look back on 2014 in the years ahead, I believe that it will be seen as a watershed year in the long and varied history of investing. While there hasn’t been a single transformational event or action, over the past 12 months I believe that there has been a real change [...]
Granny bonds: Politicians must stop buying votes with subsidies for the old and rich January 19, 2015 One of the insights of the “public choice school” of economics is that voting groups with more homogenous interests will have much more influence on the political process than those with diffused concerns. In recent years we have seen this clearly with pensioners. Whenever it is suggested that it would be prudent to examine the [...]
Why we should beware Oxfam’s claims about the world’s richest 1 per cent January 19, 2015 Oxfam tells us that global wealth inequality is increasing, as the world’s 80 richest people are approaching the same cumulative wealth as the entire bottom 50 per cent of the planet. In fact, the top 1 per cent is about to end up with 50 per cent of everything. This is just terrible, of course, [...]