French tax exodus accents London’s continued allures December 18, 2012 A GROWING portion of France’s professional population is finding Francois Hollande’s attack on success to be less than appealing. Recent months have seen high-profile figures relocating to Belgium, including France’s richest man Bernard Arnault and actor Gerard Depardieu. And an increasing number are making the short hop on Eurostar to London, which now has 300-400,000 [...]
Will workers and businesses benefit from plans to cut the redundancy notice period? December 18, 2012 YES NEIL CARBERRY This is a sensible move that works in the interests of businesses and employees. When the tough decision to lay off staff has to be made, it is right to consult. But there is no reason to force businesses to delay critical decisions or to leave staff in limbo for three months. [...]
Rapid responses December 18, 2012 Corporation tax [Re: Politicians are powerless to curb our shrinking corporate tax base, yesterday] Douglas Carswell argues that, through international property migration, it is unavoidable that big corporations will mitigate their tax liabilities. But the sad consequence is that the only people who end up paying more is us, the financially immobile taxpayers. Something must [...]
Politicians are powerless to curb our shrinking corporate tax base December 17, 2012 IT IS shocking, isn’t it? Despite UK sales of £7.6bn between 2009 and 2012, Amazon paid almost no corporation tax to the UK Treasury. Starbucks has not paid UK corporation tax in 14 of the past 15 years. Big corporate interests, it seems, are not paying their fair share of tax. An open and shut [...]
The welfare trade-off: Why raising benefits doesn’t boost the economy December 17, 2012 DAVID Cameron often says that growth is the coalition’s priority. Yet the 2010 Comprehensive Spending Review stated its priorities included aid, the NHS, fairness and social mobility. Clearly, some of these will directly conflict with the growth agenda. Public policy inevitably entails trade-offs. We should therefore be suspicious about policies that supposedly produce the “double [...]
Insurance deficits leave the world at risk of catastrophe December 17, 2012 SUPERSTORM Sandy was 2012’s reminder of the damage caused by natural disasters. It hit within a few of months of the anniversary of the Thai floods in 2011, which killed over 800, made millions homeless and inundated the business parks that underpin the country’s economy. Knock-on global supply chain disruption forced Honda and Acer to [...]
Will US politicians be able to broker a deal by the end of the month to avoid the fiscal cliff? December 17, 2012 YES Michala Marcussen We see a 90 per cent chance that a temporary extension will be agreed before the end of the year. But every day of inaction lowers this estimate. In the latest twist, the Republican House speaker John Boehner has suggested an increase in taxes for incomes over $1m (£620k). While this is [...]
Rapid responses December 17, 2012 Banking union [Re: European banking union will be no friend of vibrant financial services, Thursday] If Europe’s banks are going to be regulated under one umbrella, the financial sectors of smaller countries will likely find themselves stifled. The inclination for a European regulator will be to impose the level of regulation that is already in [...]
East India Company: The original City firm judged too big for failure December 16, 2012 FOR an institution that’s been defunct for over 150 years, the East India Company still evokes powerful reactions. This year in India, a move to liberalise the retail sector to allow investment by foreign multinationals was greeted with protests: “this is the return of the East India Company”. Meanwhile in the UK, Sanjiv Mehta has [...]
The government achieved the best deal possible on Eurozone banking union December 16, 2012 POLITICIANS are the first to be blamed when things go wrong, so it is important that they also receive credit when they get something right. Last week’s developments on the European banking union are a case in point. Under the circumstances, the UK government secured the best deal possible at the summit in Brussels. The [...]