RAPID responses May 27, 2012 Euro bondage [Re: Eurozone crisis moves ever closer as Greek left gains ground, Friday] I don’t know how we came to believe that growth will somehow cure the debt crisis, whether in Greece or the UK. Our massive debt was added to during a period of sustained economic growth. It will still require political action, [...]
The gold standard gives priceless insights into how to save the euro May 24, 2012 THERE is almost no economic problem for which there is not at least one precedent. Examining precedents can help guide policy makers and their advisers – if they are willing to look. But policy makers trying to deal with the euro crisis have not taken advantage of this opportunity. Many currency unions have been formed [...]
Celebrate the open power of the 2012 Olympic truces on tax and visas May 24, 2012 THE Olympic flame is making its way around the length and breadth of Britain, a vivid symbol of one of the key values of the ancient Games: freedom of movement. Before the games at Olympia, a truce was declared so that officials and athletes could make their way to the Games without hindrance or legal [...]
Britain’s solitary stance on energy policy is foolish May 24, 2012 THE government’s draft Energy Bill is an utter disaster. It reverses the course of UK energy deregulation, which cut prices, and will lead to confusion for companies and added costs for consumers. Lord (Nigel) Lawson, who as energy secretary was the architect of Britain’s energy market deregulation in the 1980s, has warned that the Bill [...]
Should Britain consider regulation to end the current model of no-charge banking? May 24, 2012 YES Alex McEvoy Banks sell a very complicated set of products and clarity is vital so that customers understand what they are paying for. It costs a bank hundreds of pounds a year to service an account – for cards, secure websites, statements, and anti-fraud systems, as well as complying with regulations. Banks currently make [...]
RAPID RESPONSES May 24, 2012 Europe’s cash cows [Re: Europe’s shared currency shouldn’t entail Germany bankrolling a debt union, Wednesday] An interesting article by Jamie Whyte, though it misses one crucial point. Whyte’s premise that Germany shouldn’t subsidise other EU members, by principle, forgets one long-standing policy – the Common Agricultural Policy. Germany has indirectly subsidised French agriculture for years. Of [...]
Tinkering with Britain’s economy won’t drive the growth we need May 23, 2012 DEBATE has raged for days over Adrian Beecroft’s proposed employment law reforms, exposing some fundamental problems in our politics. Having been asked to apply his expertise and intelligence to a serious issue, and having volunteered his time, the savaging he has received from some quarters shows why many of our finest minds outside politics are [...]
No more rewards for failure – how to claw back pay May 23, 2012 ONE by one, companies with either sub-par performance or poor compensation plans have been brought to account by shareholders. The most spectacular of these was at Aviva where Andrew Moss, recently stood down, but there have been major revolts at William Hill, Pendragon and Trinity Mirror. All of this has been achieved without one bit [...]
After the FTSE 100 fell to 5,266 yesterday, where will it close at the end of the year? May 23, 2012 LOWER Glen Jones The UK has entered into a double-dip recession. However, the FTSE 100 isn’t just a reflection of the UK market, it’s a proxy for the entire global economy, as a large proportion of its revenue streams come from overseas. The bullish recovery from the lows of last summer has been curtailed quickly [...]
RAPID RESPONSES May 23, 2012 Tax by extortion [Re: Don’t ignore the moral arguments against high taxation, yesterday] This is a drum worth banging, and banging again. The moral arguments against taxation apply not only to taxes that the government describe as such, but also to official extortion at the local level – tyrannically enforced and excessively high charges, fines for [...]