Will a second presidential term for Obama improve prospects for the global economy? November 7, 2012 YES Dan Morris Markets like certainty, and the fact that President Obama won a definitive victory must be taken positively. With little change in the make-up of Congress, there is a good chance for a resolution to the issue of the fiscal cliff before the end of the year. However, the fiscal cliff may turn [...]
Rapid responses November 7, 2012 Divided State [Re: So much for the election. Now America must regain its mojo, yesterday] This article is correct. The closeness of this election (a clear reminder that America is still a highly divided country) does nothing to resolve which direction the US should take. With 48 per cent of the electorate behind Romney, there’s [...]
Britain’s unstable pensions policies are holding back long-term saving November 6, 2012 THERE is widespread agreement in both government and in business circles that Britain’s pension regime needs urgent reform to make it fit for the long term. People are not saving enough for retirement and businesses are continuing to struggle to provide adequate pension schemes for their employees. So far, plenty of work has been done [...]
Monetary union is clipping the wings of regions outside the dynamic South November 6, 2012 LORD Heseltine’s recent report into economic growth has attracted a great deal of comment – almost all of which suggests that he longs for the old Regional Development Agencies and the state-planned decades of the 60s and 70s. But the report does, at least, outline a list of possible policy actions to deal with a [...]
How manipulated figures distort the FTSE pay debate November 6, 2012 BROAD sections of the media are reporting misleading statistics on recent increases in directors’ pay. According to figures released by Incomes Data Services (IDS), the average salary rise among FTSE 100 directors was a huge 27 per cent over the last year. But highlighting 27 per cent misrepresents the facts. It follows on the reporting [...]
After its profits once again disappoint, can Marks & Spencer return to its former glory? November 6, 2012 YES Rafael Gilston Marks & Spencer sits squarely in the mid-market. Because of this, it’s under constant attack from more specialist brands like Next (for families), John Lewis (for labels), Zara (for the career woman) and even New Look (for teenagers and young adults). The historical legacy of the Marks & Spencer brand is that, by [...]
Rapid responses November 6, 2012 Minimum wage [Re: As the mayor announces a rise in London’s Living Wage, does it make economic sense? Yesterday] Sam Bowman is right that low paid workers should be taxed less. The Institute for Fiscal Studies has shown that, if firms paid the Living Wage, the government would knock £1,000 per worker off of the [...]
A bitter US campaign has failed to find consensus on menacing debt November 5, 2012 AFTER the victory celebrations have ended, whoever wins tonight’s US presidential election will face a nasty, prolonged, economic hangover. And, as Britain’s closest ally, what happens in the US will have firm implications for this side of the Atlantic. It has been a bitter and unpleasant campaign and, unless a tribal and divided Congress can [...]
Public sector cuts aren’t depressing growth – but private sector austerity is November 5, 2012 AMONTH tomorrow, George Osborne will deliver his Autumn Statement. On current policies, the Office for Budget Responsibility will suggest he will fail to meet his target of a falling debt-to-GDP ratio by the end of the parliament. This leads to a question: should Osborne announce further fiscal consolidation or should he abandon the target? Nick [...]
Why the coalition must freeze rates on retail premises November 5, 2012 THERE IS nothing sexy about business rates. They don’t have much globe-trotting glamour and perhaps that’s part of the problem. As taxes go, they’re more a cup of tea than a café au lait. One of the government’s flagship business pledges is to make the UK the most competitive tax regime in the G20. It’s [...]