Simpler energy tariffs will lead to higher bills and less competition November 28, 2012 THE Prime Minister has proposed that each energy supplier should put all its customers on the best tariff. The regulator Ofgem has proposed that suppliers should be restricted to four tariffs each. The Department for Energy and Climate Change has proposed putting a mix of these proposals into law. Has no one thought through the [...]
Banker bashing in practice: The suicidal tendency that’s killing finance November 28, 2012 DO YOU care whether London remains the international financial centre? It might be a sacrilegious question to ask City A.M. readers, but it is at the heart of the debate over the future of banking. If someone doesn’t want London to remain a world leader, then concerns about regulatory overreaction damaging our competitiveness and banks [...]
Leveson must not purge the press of its messy freedom November 28, 2012 LORD Justice Leveson’s report into media “culture and ethics” will not turn Britain into Zimbabwe-on-Sea. But it will risk leaving our press even less free and open than it is already. Today, Leveson is widely expected to propose a new press regulator backed by law. Statute-backed regulation is certainly what celebrities and anti-tabloid crusaders are [...]
Could President Hollande’s anti-business stance drive companies away from France? November 28, 2012 YES Bill Witherell The bitter dispute between the French government and the steel company Mittal reflects its contradictory attitude towards business. Francois Hollande’s post-election actions have had an anti-business flavour that appealed to his socialist support base. But in response to the International Monetary Fund (IMF) warning France over its low competitiveness, Hollande introduced new measures [...]
Rapid responses November 28, 2012 Bank multi-tasking [Re: Mark Carney’s Canadian legacy has still not weathered the test of time, yesterday] Mark Carney’s appointment as the new governor of the Bank of England has been welcomed with open arms. Indeed, he appears to be the strongest candidate for the job. Needless to say, expectations are extremely high. The Bank requires [...]
Mark Carney’s Canadian legacy has still not weathered the test of time November 27, 2012 MARK Carney, the Bank of England’s new governor, will leave his current position as governor of the Bank of Canada with a sterling reputation. The widespread acclaim he has attracted is based on his Bank’s deft handling of the beginning of the financial crisis, and his recent appointment as head of the G20’s Financial Stability [...]
Yet another Greek bailout will change nothing without structural reform November 27, 2012 ANOTHER bailout deal has been secured for Greece. Some of the country’s borrowing will be written off – it will be left with a debt to GDP ratio of “only” 125 per cent. But is this the end of the matter or another failure by Europe’s elite to face up to the real problems? With [...]
Why government must be smarter on procurement November 27, 2012 BRITISH industry needs accurate information about future opportunities in the marketplace so it can compete for and win business. That way it can plan ahead and buy the technology, labour and skills to match future needs. One in every seven pounds in this country is spent by the public sector. That’s an enormous £230bn spent [...]
Would easing student visa rules be enough to attract the best and brightest to Britain? November 27, 2012 YES Wendy Piatt Boris Johnson is right: students should be removed from net migration targets. International students are worth billions to London’s economy through their tuition fees and living expenditure alone. Their contribution to the capital’s intellectual and cultural life is priceless. Russell Group universities like Imperial, King’s, LSE, UCL and Queen Mary are world-class [...]
Rapid responses November 27, 2012 New beginnings [Re: An unusually brilliant move by Osborne will give City a huge fillip, yesterday] Mark Carney has performed his first conjuring trick by confounding the commentators with his surprise appointment. But to be a successful Bank of England governor, and to get the UK economy going, he is going to need a lot [...]