How the chancellor could unleash the potential of manufacturing exporters February 18, 2014 WITH A general election approaching, I am not expecting the chancellor’s Budget on 19 March to raise many eyebrows. All political parties are likely to keep the potential vote winners in reserve for their manifestos and the campaign itself. There may be moves to address the cost of living pressures many UK voters still face [...]
A mansion tax would be equivalent to feasting on our economy’s seed corn February 18, 2014 THE CHANCELLOR has a problem. People do not much like paying taxes, yet there is rising demand for welfare and state services, and politicians fear taking the tough decisions needed to reallocate spending. Into this unenviable situation steps the worst of all possible solutions: the wealth tax. The total UK tax take has been remarkably [...]
Letters to the Editor – 19/02 – UK tax hypocrisy, Best of Twitter February 18, 2014 UK tax hypocrisy [Re: Savers will pay a terrible price for Europe’s latest stealth tax, yesterday] Yes the proposed EU financial transaction tax (FTT) is a ruinously daft idea, but we should remember that it’s an idea we came up with first. The UK levied a tax on financial transactions first, in 1694, at the [...]
ACCA Comment: The financial reporting revolution February 18, 2014 Real-time data and integrated reports are sparking debate IT’S REPORTING season, but there is more to it than just profit and loss. What, how and when financial information is reported is a key issue for investors, and it is equally relevant to finance chiefs and the companies they work within. ACCA-qualified management accountants are no [...]
This press release sums up everything that’s wrong with the UK’s house price obsession February 18, 2014 If there's a blindspot in the UK's collective understanding of economics – house prices is certainly it. In no other area would we so excitedly greet news of rising prices. That public relations officers feel we should want to applaud news of house prices well above their pre-crisis high is an insult. "Like chinks of sunlight, [...]
Europe has reached a turning point – we now need to rescue it from the EU February 17, 2014 THE COMING European Parliament elections could be a turning point: our moment to save Europe from the EU. But for that to happen, Europeans must realise the real future they face under the current system, and the risks involved in underestimating Brussels. I have been interested in politics since I was a kid, and that [...]
It’s time to abolish universal benefits for pensioners – but expect a backlash February 17, 2014 I’D JUST arrived in the office when the telephone rang. The enraged caller let rip in a 10 minute diatribe before threatening to put something disgusting through my letter box. For similar reasons, a colleague once received a death threat. Had we waded into a controversial debate on culture and diversity? Immigration? Perhaps free speech [...]
UK asset managers can boost competitive edge with more transparency February 17, 2014 WHEN we asked asset managers and investors to name the most important issue facing the sector, the answer was overwhelmingly how clients’ funds are spent through dealing commission. The growing consensus that more can be done to ensure clients’ funds are used fairly reflects a wider cultural shift across financial services. Firms in all sectors [...]
Letters to the Editor – 18/02 – Scotland relations, Stamp duty, Best of Twitter February 17, 2014 Scotland relations [Osborne’s claims that Scotland couldn’t use the pound don’t stack up, Thursday] Ruling out a currency zone after Scottish independence carries risks for both sides. The rest of the UK will unilaterally erect customs posts and force people to change money when they cross the border. This would damage trade and the free movement [...]
Time to worry: The Iranian nuclear crisis still threatens global stability February 16, 2014 ONE OF the areas of overlap between the business and political worlds concerns negotiation; any businessman or government-type worth their salt surely loves the chance to play at being that master actor-negotiator Peter O’Toole, if only for a limited audience. Some of my fondest memories of my decade in Washington involve behaving outrageously – asking [...]