Letters to the Editor – 23/04 – Labour’s spending, The West’s decline, Best of Twitter April 22, 2014 Labour’s spending [Re: The cost of living crisis isn’t over – but Ed Miliband still won’t solve it, yesterday] It is difficult to see how Labour intends to deal with high childcare costs, while also promising to raise the national minimum wage or introduce a (much higher) living wage. Unless the intention is just to [...]
Just three reforms would transform UK recovery into long-term boom April 22, 2014 WHISPER it, but things finally seem to be looking up. Investment is rising, unemployment is falling, and the deficit seems to be coming under control. But it could be a lot better. Real wages will not recover to their pre-crisis peak until 2020. And expected growth of 2.7 per cent this year is well below [...]
Why Europe should cut taxes – not engineer inflation April 22, 2014 CONSUMER prices in Sweden fell by 0.4 per cent in the year to March 2014, according to Eurostat figures. Over the same period, inflation was negative in a further seven European countries, including Greece, Portugal and Spain. In eight other countries, inflation was still positive but very low, running at an annual rate of less [...]
How Britain can fix its Nimby problem April 22, 2014 THE COALITION is considering plans to loosen the rules governing the development of new infrastructure, fracking sites, and potentially housing, to facilitate investment. The specifics are not yet clear, but they seem to be on the right track. The potential of UK shale, for example, is huge – if it can be realised. New research [...]
EU politicians are set to pass their filthiest law yet April 22, 2014 The European Parliament takes one step closer in its efforts to curb the use of plastic carrier bags today. Environment commissioner Janez Potocnik has celebrated parliament voting on a proposal to reduce their use by 80 per cent. Potocnik pointed to the growing consumption of plastic bags as demonstrating "a reckless waste of resources" and [...]
It’s time to read the writing on the wall: Why the West no longer exists April 21, 2014 WHATEVER the final outcome of the violently simmering crisis in Ukraine, and however likely it is that that embattled state will remain caught in Russia’s crushing embrace, the greatest global political risk can’t be found in Kiev, eastern Ukraine or any of the other hotspots that get the media so excited. It lies in the [...]
The cost of living crisis isn’t over – but Ed Miliband still won’t solve it April 21, 2014 PAY GROWTH at 1.7 per cent, inflation at 1.6 per cent on the consumer price index (CPI), real wages increasing. One commentator stated this was the coalition’s “mission accomplished” moment. People are starting to get better off after years of falling real wages, so the argument goes. Surely this is proof that the government’s “long-term [...]
Immigration rules and skills shortages hold back UK tech potential April 21, 2014 THE FIRST few months of 2014 have been a whirlwind for London’s tech sector. Just-East burst onto the stock market with a £1.5bn valuation, DeepMind and Natural Motion were acquired for a combined £720m within three days of each other, Circassia completed a £200m public offering, and we witnessed a resurgent IPO market. Yet while [...]
Letters to the Editor – 22/04 – Bank productivity, Self-employment, Best of Twitter April 21, 2014 Bank productivity [Re: The British productivity disease: How to cure it, Thursday] Dominic Raab is right that falling productivity can be blamed, particularly, on sectors like finance. But can he really claim that this is due to poor competition? Has he missed the new regulations that have pushed up the cost of doing business? Perhaps [...]
City & Gild: How Tesco can make us fall back in love with its brand April 17, 2014 Tesco’s current strategy worries me enormously, especially off the back of a six per cent fall in profits. Chief executive Philip Clarke has confidently explained, “Tesco will be firmly established as a middle-market retailer, which offers low prices and good quality – all under one roof”. My translation of this is essentially, “we’re going to [...]