Letters to the Editor – 13/05 – Tech bubble, Asian powderkeg, Best of Twitter May 12, 2014 Tech bubble [Re: This irrational tech boom risks the health of the global economy, Friday] I agree with Guy Hands’s analysis of tech stock valuations. And I support the idea that the tech bubble is being fuelled by cheap money – although the same is also true of the S&P and the FTSE, by and [...]
Why Britain must reject Miliband’s arbitrary economic jingoism May 12, 2014 BRITAIN has a proud tradition of putting scientific inventions to commercial use – from the fire extinguisher to Beta blockers, used to treat high blood pressure. Both may be needed to defuse rising political tension over Pfizer’s bid to take over Astrazeneca. Ed Miliband’s shallow resort to populist protectionism threatens the rule of law, and [...]
Protectionism will do nothing for the UK – or the quality of its football May 12, 2014 ECONOMIC protectionism is back. Ukip has put immigration at the forefront of its EU election campaign, implying that competition in the jobs market from EU nationals is bad for UK interests. Labour thinks government should be more active in protecting the “national interest” in pharmaceuticals, and should stop foreigners buying property they might leave empty. [...]
The EU tax liberation day small print: Why the UK beats flat tax Lithuania May 12, 2014 WHEN I tell you Lithuania has a 15 per cent flat tax rate, does your mouth water at the idea of Britain adopting a similar system? As a former stockbroker who has researched “The Tax Burden of Typical Workers in the EU” for the past five years, I’ve learned to look at tax rates the [...]
The Asian powderkeg could blow the world back into a 1914-style disaster May 11, 2014 IT IS well that we contemplate the abyss, if only to avoid it. This year we particularly remember the ghastly disaster of 100 years ago, when an almost unfathomable complacency shared by the European elite threw a generation into the fire of the First World War, almost as an afterthought. A century on from the [...]
City Matters: The EU financial transaction tax will hurt the prudent – not the reckless May 11, 2014 THE IMPORTANT debate between the City and 11 EU governments on whether or not to introduce a tax on derivatives and shares continued last week. Both sides have scored victories, but now a more conciliatory tone is emerging, and this should be welcomed. With the European Court of Justice rejecting a pre-emptive challenge to this [...]
Radically decentralising power to town halls may pay UK growth dividend May 11, 2014 NO MAJOR UK political party is interested in a radical decentralisation of power. The Conservatives, in particular, are scarred by their experiences of “loony-left” councils in the 1980s, and we certainly don’t want to go back to those days. The big flaw in the local government system then, however, was the disconnect between the franchise [...]
Letters to the Editor – 12/05 – Astrazeneca board, City jobs, Best of Twitter May 11, 2014 Astrazeneca board [Re: Why the government doesn’t need to protect Astrazeneca, Friday] A sound and balanced piece by Roger Barker. I am somewhat impressed by the integrity shown by the Astrazeneca board so far in this bid. I sense that they have real belief in their strategy now that they are seeing evidence of recovery [...]
City & Gild: Build, don€’t block the sharing economy May 9, 2014 I travel to New York on business a lot and have in the past paid a small fortune to stay in hotel rooms which have the good grace to just about let you walk around the bed, carefully watching out for your shins. And then along came Airbnb. Not only could I rent a whole [...]
Letters to the Editor – 09/05 – Chinese innovation, Best of Twitter May 8, 2014 Chinese innovation [Re: As Alibaba unveils its IPO plans, can China leapfrog the West in innovation? yesterday] China has a huge pool of natural resources and a vast supply of cheap labour. But the key to unlocking innovation lies in having leading higher education institutions and research. A quality deficit can in part be compensated [...]