Want to change behaviour? Try more markets, not more regulation April 15, 2014 ECONOMICS provides us with a really big insight into how the world works: people respond to changes in incentives. A great deal of public policy is based on this principle. Want fewer people to drive into Central London? Introduce a congestion charge and make it more expensive. It works. In practice, of course, estimating exactly [...]
Letters to the Editor – 15/04 – Jobs miracle, Airport debate, Best of Twitter April 14, 2014 Jobs miracle [Re: The recovery is being driven by a revolution in the jobs market, yesterday] Have you considered that the reason for the rise in self-employed consultants is the tax system? With a good accountant, moving from PAYE to self-employment, for effectively the same job, can reduce your liability. I find it increasingly difficult [...]
How the West’s utopians damned Ukraine to Russian dominance April 14, 2014 THERE is little doubt that Ukraine stands perilously on the edge of disaster, if not full invasion, as Russian troops assemble on its borders and pro-Russian activists violently demonstrate in key eastern cities. So why, in response, has the West floundered? There is a critical division between the major western foreign policy schools of thought [...]
Osborne’s quiet revolution is delivering: Tax cuts boost growth April 14, 2014 WITH the “stimulus” versus “austerity” debate having receded, George Osborne likes to talk instead about his “long-term economic plan”. This has been dominated by a commitment to deficit reduction and a strong jobs market. But it’s becoming clear that Osborne wants to add a third string to his bow – the intellectual case for low [...]
Why the Lib Dems’ new mansion tax-lite is just as ugly April 14, 2014 SOME Liberal Democrats seem to have finally conceded that their “mansion tax” pet project is a bad idea. Chief secretary to the Treasury Danny Alexander has gone off the proposal to levy a 1 per cent charge on the value of properties above £2m, preferring higher council tax bands for expensive properties instead. But given [...]
Is the UK still open for business? Not if politicians keep meddling in markets April 14, 2014 AFTER seven years at the top, last month London lost its place as the number one city in the Global Financial Centres Index. Is this a temporary slippage, or should we be concerned? I have always thought of the City, and the UK, as one of the best places to invest and do business. We [...]
City Matters: Why Britain should be watching Italy’s reformist new leadership closely April 14, 2014 THE TURNOVER of Italian governments has been a regular feature of the European political structure for many years. Matteo Renzi’s recent elevation into the Prime Minister’s position has therefore been regarded in some quarters with ennui. He faces formidable challenges – not least questionable support within the Parliament, and attempting to reform the Italian political [...]
The airport debate has forgotten free markets April 14, 2014 IF YOU’VE ever wondered why the airport capacity debate has become so problematic, two contributions last week, each exemplifying one of the camps by which it is dominated, show why. First, International Airlines Group chief executive Willie Walsh warned that the UK economy risks falling behind if the government blocks airport expansion. He pointed to [...]
Letters to the Editor – 14/04 – Let the people vote, Housing bank, Best of Twitter April 14, 2014 Let the people vote [Re: Let voters kick out MPs between elections and watch standards soar, Thursday] The right to recall is a vital addition to Britain’s democratic toolkit. Some argue that it would mark the end of representative democracy – our MPs would become delegates, following the whim of public opinion. But who can [...]
City & Gild: Cities are brands too April 11, 2014 What is the brand of London, how is it being managed, who runs it and are we really capitalising on our greatest national asset? On landing into Heathrow recently, I was greeted with the same multi-storey billboards for the Tower of London that have been in place for years. But a few smiling Beefeaters stirred [...]