Letters to the editor January 23, 2013 EU negotiation [Re: Cameron’s EU balancing act makes treaty renegotiation unavoidable, yesterday] This article overwhelms with its lack of ambition. It argues that EU partners will let us reform the terms of our membership, but only if we stick to those reforms they already agree with. What of the membership requirements they want to keep or [...]
Cameron’s EU balancing act makes treaty renegotiation unavoidable January 22, 2013 IT’S months later than planned, but David Cameron will finally deliver his much-anticipated speech on Europe today. We first expected him to speak last autumn. Then an unfortunate clash with the anniversary of the Élysée Treaty prompted a rethink. And crisis in Algeria forced another postponement. But Cameron’s “speech to end all Europe speeches” is [...]
Justification for tax evasion crackdown has worrying shades of Brown January 22, 2013 KEIR Starmer, the director of public prosecutions, has vowed to “ramp up” the number of prosecutions against tax evasion five-fold in two years. He plans to target middle-class earners, citing as examples “lawyers, tax consultants and plumbers” – an intriguing perspective on the British class system. Or perhaps we are all middle-class now. It is, [...]
Crack down on the high cost of living or growth suffers January 22, 2013 THE emergence of competitive economies in the East is a well-known phenomenon. But less understood is the challenge this poses to the West. First, the rising East will squeeze traditional markets (albeit while creating new ones). Secondly, it will turn the terms of trade for primary products against us. We are not powerless, however. Emerging [...]
As global leaders descend on Davos, is the World Economic Forum just a talking shop? January 22, 2013 YES Louise Cooper “To improve the state of the world” is a great objective for a conference. But such lofty ideals fall short of the shmoozefest that is Davos. For the optimists, this year’s title should bring a cold shower of reality – Resilient Dynamism. I had to turn to the dictionary for help. Davos [...]
Letters to the editor January 22, 2013 Debt killed growth [Re: Economic perfect storm: The four trends that killed Western growth, yesterday] The debt supercycle, as Tim Morgan puts it, captured politicians, consumers, and companies in its wake, defying all logic. But only two of those groups have since woken up to its consequences. The latest government deficit figures remain appalling, and it’s entirely [...]
Economic perfect storm: The four trends that killed Western growth January 21, 2013 THE West lies at the confluence of four extremely dangerous long-term developments. Individually or collectively, they have already begun to reverse more than two centuries of economic expansion. The first is well-known: the creation of the worst financial bubble in history – “the great credit super-cycle”. Since the 1980s, a relentless shift to immediate consumption [...]
The eurosceptic case for renegotiating EU trade relationships with caution January 21, 2013 OECD secretary-general Angel Gurría summarised succinctly, last week, the extent to which globalisation has led to the interconnectedness of countries through trade. In a speech in Paris, he said: “A good produced in the EU and exported to the US includes components from China and Japan, using raw materials and services from Australia, Russia or [...]
US budget battle looms as leading concern at Davos January 21, 2013 IT’S that time of year again. High streets are full of bargain-hungry shoppers, Christmas decorations are back in their boxes, New Year’s resolutions are still holding, and a ski resort in Switzerland is preparing itself for an influx of global economic power-brokers. The World Economic Forum is about to descend on Davos. The Eurozone’s enduring [...]
After recent heavy snow, is the UK uniquely poor at dealing with bad weather conditions? January 21, 2013 YES Adam Marshall All businesses are impacted by severe weather. This week’s heavy snowfall, and the slow response, are no exception. The closure of schools comes first. When parents have to take time off, productivity falls, affecting local and national economies. There’s also the impact on international trade. Many businesses are inconvenienced by flight disruptions. [...]