Pension freedom: A chance to rebrand retirement altogether March 20, 2014 THE chancellor’s pension reform proposals could, if implemented, not only change pensions as we know them, but the way people plan their retirement savings altogether. We aren’t there yet. But we should finally reach pension freedom in April 2015, when people will be free to decide, without restrictions, what to do with their pension pots [...]
Letters to the Editor – 20/03 – Energy market, Best of Twitter March 19, 2014 Energy market [Re: Blame the regulator, yesterday] Stephen Littlechild’s article is full of inaccuracies and poorly substantiated claims. None of the discounts he claims we regard as “harmful complexities” are prevented under our reforms for a simpler, clearer fairer market. Nor would our rules prevent British Gas providing free electricity on Saturdays as he suggests. [...]
No turning back: Four reasons Osborne’s Budget matters March 19, 2014 FOUR key things strike me about the 2014 Budget. First, George Osborne stuck to his plan. Osborne’s Budgets will be remembered for two things: slow, steady, drawn-out spending cuts, bearing down gradually upon the government’s huge deficit; and a large rise in the income tax personal allowance. Both aspects were reflected in yesterday’s Budget speech. [...]
Why Osborne should now axe tax relief on pensions March 19, 2014 WHEN you have no money, and you need to conserve cash for a rabbit out of the hat in the run up to the election, what do you do? The chancellor’s answer: focus the Budget on pension reform and Isas saving incentives. That’s all fine and dandy, but it’s a missed opportunity. The chancellor reached [...]
Why Britain will have to wait for growth-boosting tax reform March 19, 2014 THIS year may be “as good as it gets” for the growth of the British economy, according to the latest OBR forecasts released in yesterday’s Budget. GDP growth is projected to be 2.7 per cent in 2014, but is then expected to be around 2.5 per cent over the next four years. This subdued growth [...]
Letters to the Editor – 19/03 – Baffling economics, Ukraine crisis, Best of Twitter March 18, 2014 Baffling economics [Re: Economics baffles half the population, Monday] So 48 per cent of UK adults say they understand how the economy works. This seems high, given the management of the economy in the run-up to the Great Recession. Surely, the Treasury and the FSA would have done a better job if even 48 per [...]
ACCA Comment: Corporation tax is due for a revamp March 18, 2014 Company taxation in its current form is looking out of date BUDGET fever has truly taken hold when even global super-group One Direction starts calling on the chancellor to do something about corporation tax. Last week, the boy band asked its millions of fans to “bombard” George Osborne with emails, urging him to crack down [...]
Why an independent Venice should adopt Dogecoin March 18, 2014 On Friday, polls will close as Venetians vote on the issue of independence. Opinion polls suggest that locals are in favour of a future Republic of Veneto, but a successful yes result will not be legally binding. Crucially, if Venice does ever become fully independent, it will have to make a decision on the matter [...]
Forget energy companies: Blame the regulator for distorting competition March 18, 2014 OFGEM, the Office of Fair Trading (OFT) and the Competition and Markets Authority (CMA) will shortly issue an assessment of how well competition in the markets for gas and electricity is serving the interests of households and small firms. But as I argue in the March/April 2014 edition of the European Competition Journal, Ofgem’s regulatory [...]
Inequality myth-busting: Why the UK doesn’t have to answer to Sweden March 18, 2014 CONCERN about inequalities of income and wealth is now a fashionable topic, and featured strongly in the gathering of the world’s top brass at Davos earlier this year. Much of the popular coverage of the subject gives the impression that not only is inequality at record highs, but that it is confined to the wicked [...]