The coalition’s lack of purpose has ruined our freedom to fail or thrive January 6, 2013 A SOCIETY must provide its people with certain basics, including security, food and shelter. A civilised society should also provide freedom. There is no precise definition of the term, but it is basically a status that allows people to do what they want, provided they do not interfere with the freedom of others. A market [...]
The government must use its mid-term review to focus on our role in Europe January 6, 2013 THIS week will see the coalition government publish a mid-term review that will look back at its achievements, and set the agenda for the period running up to the next general election in 2015. In many ways, the coalition has already exceeded expectations by overcoming political differences to still be a fully functioning government halfway [...]
Flailing high street has worse to come in the year ahead January 6, 2013 AFTER holding their breath for the last few weeks, some retailers can at last allow themselves a cautious sigh of relief. Positive sales numbers from the likes of John Lewis and Next have given the sector a much-needed dose of optimism, resulting in a slight hike in share prices for some of the larger players. [...]
Should the government’s policy to cut child benefit for higher earners be welcomed? January 6, 2013 YES Sam Bowman These reforms are the next step to rolling back the culture of benefits for all, and they should be applauded. Nobody earning more than £50,000 a year needs extra money from the state. Arguments against withdrawing benefits for the poor may be compelling, but it is hard to feel the same way [...]
Rapid responses January 6, 2013 Export revolution [Re: We need an export-led revolution to save the UK economy, Friday] Exporting is a key area where the UK should be doing better. An “export-led revolution” should focus on small and medium-sized enterprises (SMEs) that are not keeping up with the pace of our overseas competitors. Currently, only 20 per cent of [...]
Public understanding of economic principles will decide 2015 election January 3, 2013 AS 2013 begins, George Osborne, Ed Balls, and Danny Alexander should look at the polls with a mix of depression and hope. Depression, because despite all the coverage of their efforts, the public remains completely divided and confused on economic policy. Hope, because there is everything to play for and a politician who takes a [...]
Faulty maths didn’t cause the crisis – but risk management can do better January 3, 2013 MUCH of finance is devoted to the management of risk. Yet before the financial crisis, we spectacularly misunderstood the riskiness of investments which, leveraged to the hilt, inflated a financial bubble that burst in 2007. As the fallout continues, we ask why risk management failed so epically. Many point to the scientific shortcomings of economics. [...]
Argentine bravado has an unlikely ally in the UK taxpayer January 3, 2013 YESTERDAY’s call by the President of Argentina, Cristina Fernández de Kirchner, for the UK to hand her the Falklands Islands was just the latest example of diplomatic sabre-rattling from Buenos Aires over the islands’ sovereignty. Alas history hasn’t recorded whether David Cameron got as far as page 25 of The Guardian to read for himself [...]
Should winter fuel payments for pensioners be means tested to help fund elderly care? January 3, 2013 YES Paul Burstow A person that owns an average priced home will currently pay the equivalent of around 65 per cent of its value to pay for their old-age care. But implementing the proposals of the Dilnot Commission – capping the cost of care at £50,000, and extending the means test to £100,000 – would [...]
Rapid responses January 3, 2013 Corporation tax [Re: Is Sir Martin Sorrell right that corporation tax payments are a “question of judgement”?, yesterday] While Steve Barclay is right that the UK tax system needs reforming, tax is still solely a matter of legal obligation, not a function of public relations. Starbucks’s recent move to pay an additional £20m set a [...]