This is the eye of the financial storm: UK banks are far from being healthy November 4, 2013 PRIVATISATION at Lloyds, but losses. An internal quasi-bad bank at RBS. Co-op bank falling into the hands of its bondholders. How healthy is the UK’s banking sector? With GDP growth picking up, and crisis in the Eurozone in abeyance, it’s natural to imagine that the worst of the UK’s banking crisis is now behind us. [...]
We should question the CBI’s claim to represent business opinion on Europe November 4, 2013 ONE OF the biggest myths in UK politics is that the free-market and Eurosceptic wings of conservatism are beholden to the interests of big business. Many mistake a shared desire for a lower tax and regulatory burden for a common agenda. Yet in reality, some of the biggest divergences in economic opinion occur between these [...]
Beware the unintended consequences of making a Living Wage mandatory November 4, 2013 IT’S LIVING Wage week, and many are endorsing the principle of raising low pay, whether by boosting the minimum wage, or by forcing local authorities and pressuring other private employers to pay the Living Wage. It’s an attractive proposition, advocated by politicians as varied as Ed Miliband and Boris Johnson. But it is worth pausing [...]
Letters to the Editor – 05/11 – Minimum wages, Startup lending, Best of Twitter November 4, 2013 Minimum wages [Re: Help the low-paid by slashing their tax and boosting education, yesterday] I agree the best way of boosting low-paid income is to increase the tax threshold to, say, £12,000. A minimum wage increase would only lead to more outsourcing and automation. Chris Hobson As the economist Paul Krugman said in 1998, “the higher [...]
Big business must support startups and help create the jobs of the future November 3, 2013 ONE of the clearest signs of a strong economy is a healthy and thriving startup and small business sector; these are the real engines of job creation and growth for any country. The US has always prided itself on a vibrant startup culture, with people from flocking from around the world to California’s Silicon Valley [...]
Financial services are vital to the UK economy November 3, 2013 AT THE CBI conference today, my message will be that Britain can only succeed in the future as an open, internationalist and outward-facing trading nation, with enterprise, risk and innovation valued and rewarded. But when, after years of stagnation, most people are still seeing their living standards falling, we cannot take public support for this [...]
Letters to the Editor – 04/11 – Scientific progress, Best of Twitter November 3, 2013 Scientific progress [Re: Antibiotics are in critical condition: An open culture will help us find alternatives, Friday] The article highlights some very real concerns regarding antibiotic resistance, and rightly calls for more openness to ensure technological advances. But simplifying regulation is only one part of the solution to winning the fight against bacteria. Medical researchers, [...]
We must stop using water bills as a limitless environmental credit card October 31, 2013 WHILE all attention has been focused on rising energy bills, Britain’s water industry is facing its own troubles – with its recent history characterised by drought orders, hosepipe bans, and tariff hikes. But the efficiency of the UK water supply is an issue that can no longer be ignored. There is new management at water [...]
The Long View: Antibiotics are in critical condition: An open culture will help us find alternatives October 31, 2013 HERE’S a Halloween horror story for you. One of America’s top experts on disease control has just announced that we are now in the post-antibiotic era. It is a moment that has been feared for some time, and its arrival is not a widespread problem – yet. But amid the relentless churn of daily events, [...]
Why we need a new deal for the UK to end the crisis of excessive EU regulation October 31, 2013 WHEN the British public voted in the European referendum 40 years ago, they were told they were voting to remain part of a Common Market. Businesses would thank them, the public was told, because trade is key and a country mired in debt and discord needed to be part of Europe to grow once more. [...]