Letters to the Editor – 11/06 – Ofsted inspections, Best of Twitter June 10, 2014 Ofsted inspections [Re: Should schools be subject to snap Ofsted inspections, yesterday] Ofsted has demonstrated that it is incapable of looking after the interests of children and young people. Labelling schools that were judged “outstanding” a few months ago as “inadequate” now confirms that its judgements are capricious: its inspectors go into schools to look [...]
World Cup fever: Why an England loss will wipe billions off the stock market June 10, 2014 THE WORLD Cup, which starts tomorrow, will spark a huge range of human emotions, from the excitement of victory to the despair of defeat. The effect of football results on national mood is so strong that it can spill over into the stock market and cause swings of billions of pounds. Why? While the World [...]
How the IMF got it wrong on austerity by ignoring psychology June 10, 2014 THE INTERNATIONAL Monetary Fund: wrong again. At the end of last week, the IMF abandoned its criticism of the UK government’s economic strategy. Christine Lagarde, the IMF chief, said her organisation had “underestimated” the strength of the recovery in Britain, and the IMF now believes that the UK will be the fastest growing of any [...]
Stop scapegoating securitisation: It’s damaging Europe’s economy June 10, 2014 THE BANK of England and the European Central Bank released a widely-trailed paper last month, promoting securitisation in the EU. For an industry that has long been a scapegoat for the global financial crisis, it was a surprising and powerful endorsement. Sir Jon Cunliffe, deputy governor of the Bank of England, was subsequently quoted as [...]
Letters to the Editor – 10/06 – Pension reforms, Sharing economy, Best of Twitter June 9, 2014 Pension reforms [Re: I’m proud of my pension reforms: They will make saving worthwhile again, yesterday] Steve Webb’s reforms may give him much to be proud of, but he has failed to give enough detail about how some will be enacted. He says “the pooling of risk”, presumably these new collective schemes, will be compatible [...]
A bureaucratic nightmare risks stifling innovation in Britain’s energy market June 9, 2014 OFGEM’s chickens are coming home to roost, and the energy market regulator now faces a choice. It must decide whether it really is sensible to enforce the restrictions on energy suppliers it has spent the last few years formulating, or whether it will change course, given the bureaucratic nightmare and damage to market innovation that [...]
Why the unhealthy relationship between charities and the state must end June 9, 2014 LIKE many others, on Sunday evening I watched Soccer Aid – an annual charity football match featuring well-known ex-footballers and a raft of celebrities. All funds raised go to Unicef, to provide vulnerable children around the world with life-saving food, medicine and clean water. Given the alignment of this good cause with my interest in [...]
Why Britain’s battle against Jean-Claude Juncker may not be worth it June 9, 2014 WHEN Prime Ministers pick EU battles, they have to choose carefully. Like it or not, the UK’s historically unenthusiastic approach to EU integration – an understandable one at that – leaves it open to accusations of holding the rest of Europe over a barrel whenever the government appears to drag its feet. In the current [...]
The new EU price controls that will hold back a cashless future – and hit the poor June 8, 2014 PAYMENT cards are a marvel of modern civilisation. Both consumers and retailers benefit from payments that are safer and quicker than cash or cheque – and from the fact that consumers are not limited by the amount of cash in their wallet or bank account. Brits get this, which is why Britain has among the [...]
City Matters: We cannot afford to be complacent about ensuring capitalism is inclusive June 8, 2014 THE DEBATE over the future of capitalism has been intensified in recent months by French economist Thomas Piketty. His best-selling book has sparked popular interest in wealth and income inequality across the globe. Leaving aside the arguments over Piketty’s underlying data, it is clear that this is a pertinent issue that needs to be treated [...]