Against the Grain: We may be finally tackling the economic dilemma central to grade inflation October 15, 2013 YOUNG adults in England have scored almost the lowest results in the developed world in international literacy and numeracy tests. According to a recent study by the Organisation for Economic Co-operation and Development (OECD), out of 24 countries, England’s 16-to-24-year olds rank 22nd for literacy and 21st for numeracy. New Labour and the educational establishment [...]
Gold-plated rules stop Londoners getting the homes they most want October 15, 2013 HOUSE prices in London are soaring, with the Office for National Statistics identifying a 8.7 per cent rise in the past year alone. But on top of this, Londoners are not getting the homes they most want – terraced houses and flats. According to research we’ve just published, London’s gold-plating of national housing standards is [...]
Letters to the Editor – 16/10 – Rational markets, EU relationship, Best of Twitter October 15, 2013 Rational markets [Re: What the latest Nobel Prize winners in economics can teach us, yesterday] Of course rational market theory assumes investors use all information in a detached and continuous way, and completely ignores behavioural finance. And the idea of mean reversion is correct in theory, but in practice often there are new informational disturbances [...]
ACCA Comment: The EU debate is critical for business October 15, 2013 Accountants are well placed to understand implications of UK exit MEMBERSHIP of the EU remains a critical topic of debate among UK politicians. But now and then, someone in Westminster says something that makes a lot of sense, and shifts the debate away from politics and into the economic arena. This is exactly what Nick [...]
Debt ceiling showdown: America can never again be seen as indestructible October 14, 2013 BY THE early hours of April 15, 1912, it was horribly clear that the unthinkable was about to happen. RMS Titanic – then the largest passenger steamship in the world – was about to go to the bottom of the Atlantic. Of 2,223 passengers, 1,517 were to end in a watery grave, the victims of [...]
The IMF is playing with fire by giving intellectual backing to punitive taxation October 14, 2013 SOMETHING is going wrong at the IMF. Its traditional role as a stabilising force for countries in deep financial difficulty is being undermined by internal ideological disputes. This manifested itself most obviously in the debate over “austerity” measures, especially in the UK. Just as growth began to return, the IMF’s chief economist Olivier Blanchard told [...]
Reform oppressive air passenger tax or watch business drift overseas October 14, 2013 AIR PASSENGER duty (APD) in the UK is the highest air passenger tax of its kind in the world today, and it’s still rising. After a 8 per cent hike in 2012 and a further increase in 2013, it’s due to go up again in 2014. The Office for Budget Responsibility expects APD to raise [...]
Letters to the Editor – 15/10 – Energy prices, Best of Twitter October 14, 2013 Energy prices [Miliband’s policies have already damaged Britain’s economy, yesterday] The barrier to new entrants is scale. We have arrived at a “Big Six” because you need at least 4m customers to recover the investment in registration, trading and billing systems. Today, the only competition that exists is on price, and the only way to reduce [...]
3D printing shows promise but a new industrial revolution will have to wait October 13, 2013 BY LUCK or coincidence, many of the patents involved in “additive” production technologies (or 3D printing) – invented in large part by S Scott Crump – expired in 2009, just as the financial crisis was refocusing attention towards manufacturing and “rebalancing” the economy. Now 3D printing is rarely out of the news. It’s seen as [...]
City Matters: Cementing ties with the Islamic world should be a key priority for London October 13, 2013 LATER this month, London will play host to the first World Islamic Economic Forum to be held outside the Islamic world. This singular event reflects the increasingly strong partnership that the UK wishes to build with the Islamic world, and also London’s role as a centre for Islamic finance – a global market worth around [...]