Debate: Should the tapered annual allowance for tax on pensions be abolished? September 13, 2019 Should the tapered annual allowance for tax on pensions be abolished? Yes – Steve Webb is director of policy at Royal London. To understand why this issues matters, just look at doctors. Most senior doctors are well-paid and are in a good pension scheme. But when doctors who work harder can end up out-of-pocket, something [...]
The ‘disaster capitalism’ Brexit conspiracy that goes right to the very top September 13, 2019 Confirmation bias: the tendency to interpret new evidence as confirmation of one’s existing beliefs or theories. We’re probably all guilty of it in our private thoughts, but the sin is magnified when it results in an “exclusive” piece of journalism making outrageous claims about corruption and market manipulation at the very top of government. But [...]
The great British sell-off: Three ways for investors to profit September 13, 2019 As the final act of the Brexit saga approaches, investors are still locked in a state of perpetual uncertainty. We can’t know what will unfold, but what business is continually telling the government is how difficult it is to plan in the current environment. Brexit is the moment when we will receive some clarity, for [...]
Could MPs on all sides please stop acting like unruly school kids? September 13, 2019 The end of the school term goes hand-in-hand with discipline being somewhat relaxed. Lessons focus on pointless activities, farcical excuses for lack of homework are proffered, and boisterous singing will probably break out at some point. So it has proved too with the end of the parliamentary term. On Monday, having lamented that the prorogation of [...]
Theresa May’s rule change kicked foreign graduates like me out – now Boris is reversing the injustice September 13, 2019 It is easy to poke fun at wonks who love public policy. Digging down into the specific details of the Common Agricultural Policy, stamp duty land tax, or the Swiss healthcare system doesn’t always make for sexy headlines or punchy commentary. But what the wonks know, which is so often overlooked, is that even if [...]
Don’t let the socialists win the argument – capitalists have solutions to inequality too September 13, 2019 Inequality is a hot topic, yet those of us who support free markets are often dismissive of the issue. We (rightly) point out that the most important thing is economic growth – the key driving force behind increasing prosperity for everyone. However, free-marketeers are wrong to see concerns over inequality as the preserve of those [...]
How can it be both the best of times and the worst of times for markets? September 12, 2019 As the sleepy months of late summer fade away, investors put down the classics and pick up the financial pages as markets resume their usual commotion of activity. We should use it to reflect on what has been a great year for investors, despite the recent market wobbles. Indeed, equities continue to rally, with the [...]
It’s tempting, but the devil’s in the details September 12, 2019 The Stockholm Stock Exchange, the Toronto Exchange, Germany’s Deutsche Boerse, Australia’s Macquarie and the American giants Nasdaq and ICE have all danced the dance with the London Stock Exchange at one time or another. Deutsche Boerse has been the most persistent and the Americans have kept an eye on Paternoster Square. And who can blame them? [...]
Reviving the post-study work visa will help the UK attract international talent September 12, 2019 It is hard to think of a more short-sighted and self-destructive policy than Theresa May’s decision in 2012 to close the post-study work visa route for those wanting to live and work in Britain. Boris Johnson is right to bring it back. Britain’s universities are truly world class, attracting the best and brightest from across [...]
Let’s end the airline monopoly over Europe’s busiest airport September 12, 2019 This week’s two-day strike by British Airways (BA) pilots is not just another blow for the brand and a pain for thousands of passengers. It is also a vivid demonstration of the pitfalls of letting one airline group have an effective monopoly over many routes at Europe’s busiest airport, Heathrow. Luckily, expansion at Heathrow provides the [...]