Rapid Responses September 10, 2012 Taxing wealth fails [Re: These politicians are wrong. A tax on wealth would be bad for Britain, yesterday] It’s interesting that Andrew Sentance’s article makes the same point as the one by Andrew Haldenby, but from a different angle. The truth they both reveal is that low tax economies have faster growth, greater productivity gains, [...]
These politicians are wrong – a tax on wealth would be bad for Britain September 9, 2012 A NUMBER of leading political figures – including Nick Clegg, Vince Cable and Ed Balls – have recently voiced their support for a new wealth tax. It is easy to see why this idea is attractive to politicians. In the UK, personal wealth totals around £7 trillion – around 5 times GDP – even after [...]
The City is poised to take advantage of Chinese currency liberalisation September 9, 2012 OFFSHORE renminbi (RMB) – or dim sum bonds, as they have affectionately come to be known in the West – have more in common with their culinary counterparts than meets the eye. Traditionally enjoyed at yum cha – the Chinese equivalent of afternoon tea – by farmers after a hard day’s work, dim sum have [...]
TUC’s plan to ban business in public sector is outdated September 9, 2012 ACROSS Europe, governments are trying to take the tough decisions to get their economies moving again. The Spanish constitution has been changed so every part of government has to balance its budget. Public sector salaries have been cut, and hours have been increased. Italian trade unions have just agreed a package of reforms, including spending [...]
Will the Glencore and Xstrata merger create a company that can deliver for shareholders? September 9, 2012 YES Mike Franklin Determining the correct valuation terms for a deal like this is a minefield and opinions will vary widely. Diehard mining fans will claim that Xstrata is worth more than even the new higher terms. However, much depends on the timing of a deal like this and, given the long history between these [...]
Rapid responses September 9, 2012 Grow Heathrow [Re: Which is the best option for expanding airport capacity?, Thursday] Infrastructure is the lifeblood of British business, and air links are no exception. Ministers want new infrastructure funded by the private sector, but they’re missing the one option staring them right in the face. A privately-funded third runway at Heathrow would add [...]
Don’t blame developers: Britain’s planning system pushes up prices September 6, 2012 DURING recent planning rows, opponents of reform have argued that our lack of new homes was nothing to do with our 1940s planning system, but a case of greedy developers sitting on land with planning permission. Yesterday, the Local Government Association argued that the problem is big developers sitting on “land banks”. But big developers [...]
Paralympic tech innovation is at the leading edge of human inventiveness September 6, 2012 OSCAR Pistorius’s comments after losing the final of the 200m were a reminder that the elite athletes competing in the Paralympics don’t just have keep themselves in peak physical condition, but also watch that their rivals don’t run away with any technological edge. It is the skill and speed of athletes like Pistorius, and now [...]
ECB’s bond buying bailout bluff is not tricking Germany September 6, 2012 THE risk of total euro breakup just got much worse. The Bundesbank dissented from Mario Draghi’s scheme for “unlimited” purchases of Spanish and Italian government bonds, provided those governments apply for assistance and surrender sovereign control of budgets to the EU and IMF. The Bundesbank regards the president of the European Central Bank’s (ECB) scheme [...]
Is the Office of Fair Trading’s investigation into fuel prices a positive move for drivers? September 6, 2012 YES David Bizley Anything that brings transparency to fuel pricing is very welcome. Most motorists are very aware that fuel prices go up far faster than they ever come down, so it is a very positive move that the Office for Fair Trading (OFT) is seeking to clarify the situation once and for all. Fuel [...]