Small is beautiful: Why the age of big business and big government is over October 29, 2014 THE CORPORATION has never been less fashionable. Politicians are falling over themselves to tell voters how they will constrain, bully and regulate large companies. It makes sense. The polls tell them that trust in the corporate world is at derisory levels. A recent Populus survey found 61 per cent wanted the government to be tougher [...]
Asda is discovering the perils of Britain’s incoherent employment regulations October 29, 2014 DESPITE a remarkable reduction in Employment Tribunal claims, the system continues to throw up major problems for employers, with potentially disastrous consequences for business. First, the government is worried about two recent claims concerning holiday pay. For many years, this entitlement has been calculated by reference to basic pay. But the claims, backed by trade [...]
Britain’s punitive tax on flying is 20 years old – and more harmful than ever October 29, 2014 AIR PASSENGER Duty (APD) is 20 years old this week. Since it was first levied on flights from 1 November 1994, it has raked in a staggering £27bn for successive governments. Originally considered to be an environmental tax, APD’s annual yield for the Treasury is now in excess of £3bn – not far behind inheritance [...]
As QE ends in the US, has it changed the world for the better? October 29, 2014 Sam Bowman, research director at the Adam Smith Institute, says Yes. Many people, including me, expected QE to cause uncontrollable inflation and end in disaster. How wrong we were. The US and the UK, which did QE, are growing healthily. The Eurozone, which didn’t, is in ruins. QE helps to keep nominal spending steady during [...]
Europe can only gain if we embrace employee share ownership October 28, 2014 EMPLOYEES’ share of national wealth production in OECD countries has declined continually over the last three decades. This is a problem for purchasing power at a time when we need to boost demand to support growth. It is also, more fundamentally, a problem for the cohesion of our societies when there is an ever-increasing concentration [...]
The EU is turning its back on capitalist virtues just when it needs them most October 28, 2014 IS THERE a secret Leninist cell operating at a high level in the European Commission’s headquarters in Brussels? One which is dedicated to the overthrow of the capitalist structures of the European Union? The evidence from this past week is certainly consistent with this hypothesis. The demand for an additional £1.7bn payment from the UK [...]
Lloyds branch closures are just the start: The UK is dramatically over-banked October 28, 2014 IT MIGHT be an uncomfortable truth for many to hear, but the UK is dramatically over-banked for the digital age. There are a little less than 10,000 bank branches across the UK, far fewer than the approximately 38,000 in France, for example. But for the UK, this is still too many. Lloyds Bank seems to [...]
As National Grid warns of a winter electricity capacity squeeze, is UK energy policy to blame? October 28, 2014 Matthew Sinclair, an economist and author of Let Them Eat Carbon, says Yes. The UK’s energy sector used to do quite a good job of delivering affordable and reliable energy. Politicians then made a number of interventions which increased costs and reduced reliability. First came obstacles to the construction of new coal capacity, then the [...]
Why embracing freer trade could be our best chance to help the world’s poor October 27, 2014 WITH one simple policy – more free trade – we could make the world $500 trillion better off and lift 160m people out of extreme poverty. If there is one question we have to ask ourselves, it is: why don’t we? In 2000, the international community agreed a set of important targets to improve the [...]
Still lovin’ it? McDonald’s shows why a minimum wage hike is no free lunch October 27, 2014 McDonald's has been a major target for US protestors advocating a significant minimum wage hike. A multi-billion dollar company with a recognisable global brand, it has faced a high-profile campaign from those frustrated with low wage rates. Mandating higher wages for McDonald’s workers would not lead to job losses or cuts to hours, protestors argued. [...]