Spiralling prices are hurting the UK February 15, 2011 TAKE your pick. Is inflation four per cent a year, as the official, consumer price index measure suggests, or 5.1 per cent, as the older, broader retail price index would have you believe? My own favourite measure of how the cost of living is going up is the tax and price index, which has surged [...]
King: I was right not to raise rates January 25, 2011 GOVERNOR Mervyn King used a defiant speech last night to defend the Bank of England’s record in the face of rising inflation and a stumbling economic recovery. King’s speech came after shock figures – showing a 0.5 per cent contraction in the UK economy for the three months to December – had rocked the markets. [...]
Retail sales hit by tax and inflation October 21, 2010 THERE is a simple reason why retail sales are beginning to fall, and it has very little to do with the Comprehensive Spending review. A triple whammy of limited pay rises, elevated inflation and tax increases have conspired to impoverish most of the public over the past year, a development that has been barely picked [...]
Black hole in Miliband plan, say the Tories September 23, 2010 THE Tories have stepped up their attacks on the Labour leadership candidates, claiming bookies’ favourite David Miliband must find £55bn of cuts to pay for his campaign promises. Ed Miliband, who is also within touching distance of winning the leadership contest, will have to find £67bn of spending cuts to fulfil his pledges, the Tories [...]
Unions can’t agree on how to fight cuts to spending September 13, 2010 WHEN Brendan Barber, general secretary of the Trade Unions Congress (TUC), addressed the organisation’s annual summit yesterday, he sounded more like Neil Kinnock than the heir of militant miners’ leader Arthur Scargill. “The government is pursuing a political agenda, so our response must be political,” Barber told delegates, as he sought to distance himself from [...]
The airline boss with a hit list of 12 bid targets in his desk drawer September 13, 2010 It is clear that British Airways (BA) chief executive Willie Walsh always likes to keep his foot hard on the pedal. The Dublin-born airline boss is in the middle of a bitter 18-month dispute with his cabin crew, and only a few weeks ago received US and European regulatory clearance to pursue a transatlantic tie-up [...]
The airline boss with a hit list of 12 bid targets in his desk drawer September 13, 2010 It is clear that British Airways (BA) chief executive Willie Walsh always likes to keep his foot hard on the pedal. The Dublin-born airline boss is in the middle of a bitter 18-month dispute with his cabin crew, and only a few weeks ago received US and European regulatory clearance to pursue a transatlantic tie-up [...]
Cuts the best way to ensure growth June 21, 2010 TODAY is D-day for George Osborne; his first Budget, presented to Parliament at 12.30pm today, could be remembered as a turning point in modern British economic history. If he flunks it, Osborne is finished; if he pulls it off, stabilises the national debt, begins to unwind the excess of the Labour years and ensures that [...]
Cuts the best way to ensure growth June 21, 2010 TODAY is D-day for George Osborne; his first Budget, presented to Parliament at 12.30pm today, could be remembered as a turning point in modern British economic history. If he flunks it, Osborne is finished; if he pulls it off, stabilises the national debt, begins to unwind the excess of the Labour years and ensures that [...]
Labour and Liberals move to the left April 14, 2010 NEW Labour isn’t dead: about that Alistair Darling could not have been any more emphatic in his interview with City A.M. today. We asked him whether Labour’s manifesto – with its 50p tax, restrictions on hostile takeover bids, increases in regulation and no clear plan to reduce the size of the state – should be [...]