Sorry Ofgem: Why simpler energy tariffs are not in consumers’ interests April 3, 2014 OFGEM says that energy customers want simpler tariffs. To that end, it has limited energy suppliers to at most four tariffs. It has also prohibited various discounts, charges and special offers. But is this what customers expected from “simpler tariffs”? Would they still support that policy if they knew what it would mean? Findings from [...]
It’s not just Clegg who’s lost contact with reality – it’s the whole establishment April 3, 2014 I HAVE never seen anything like it. Nick Clegg’s trouncing in a televised debate with Ukip leader Nigel Farage this week was spectacular. Not so much for the drubbing of the deputy Prime Minister – even among the Lib Dem faithful, his popularity has been in the doldrums for years. Nor for the strengths of [...]
Letters to the Editor – 03/04 – Royal Mail, City villages, Best of Twitter April 2, 2014 Royal Mail It’s impossible to accurately price something in the absence of a market, but that does not excuse the government for wasting taxpayer money on the Royal Mail float. Business secretary Vince Cable’s search for long-term investors inevitably reduced demand. And it should come as no surprise that many investors identified as long-termists didn’t [...]
How we’re revitalising markets for economic growth April 2, 2014 MARKETS when they work well are incredibly powerful. When we drive around we don’t have to think about the supply chain needed to produce the 30,000 or so parts that go into a modern car. As we shop for groceries we don’t need to consider what it takes to assemble fresh food from dozens of [...]
Why there’s nothing ethical about progressive taxation April 2, 2014 IN THE Constitution of Liberty, Friedrich Hayek states that his views on progressive taxation (where the tax rate rises as the income being taxed increases) are so extreme, he will offend almost everyone. I feel the same, writing a column that takes on not only Adam Smith, but George Osborne and the entire progressive tax [...]
How one London council is cutting tax while improving services April 2, 2014 THOSE touring Hammersmith and Fulham to buy or rent property will often find estate agents mentioning council tax. While other bills keep rising, council tax in the borough, where I am a councillor, keeps coming down. It is due to drop by another 3 per cent in April next year. In 2006, council tax, at [...]
Letters to the Editor – 02/04 – Health apps, Best of Twitter April 1, 2014 Health apps [Re: Why the NHS now needs a radical strategy for survival, yesterday] I read Thomas Cawston’s rallying cry to new NHS England chief executive Simon Stevens with interest, in particular his complaint about a lack of innovation in the NHS. He’ll be happy to learn that we don’t need to travel across the [...]
London 2030: An optimist’s vision of the next urban renaissance April 1, 2014 LONDON faces acute problems of growth. We are building barely a third as many new homes as we need. Yet there is no credible plan for the other two-thirds. In 17 boroughs, the average rent is more than half the average wage, and the typical first time buyer is 32. Peak congestion is unbearable across [...]
What economics tells us about the next Premier League champion April 1, 2014 THE PREMIER League season is drawing to an exciting close, and it is by no means clear who will be champions or who will gain the coveted top five European qualifying spots. There could even be a surprise. If Liverpool wins, for the first time since 1995 a team from outside Manchester or London will [...]
Pricing Royal Mail: Welcome to the free market April 1, 2014 LIKE several hundred thousand other ordinary investors, I emerged from Royal Mail’s flotation with 227 shares in my Isa. I don’t normally apply for Initial Public Offerings (IPO), and this one certainly didn’t come without risks. The terms of privatisation required the company to preserve the universal service and Saturday deliveries, which have been dropped [...]