Be under no illusions: The National Living Wage will cost jobs Imagine that you didn’t know how cold weather and turning on the heat affected the temperature of a room. You’d watch the boiler burn more or less gas, and you’d watch the weather get colder and hotter, but if the thermostat and central heating were working properly there’d be no change in the temperature of [...]
Oxfam is wrong to imply free markets make the rich richer at the poor’s expense Every year Oxfam releases statistics comparing the wealth of the global poor and the global rich, showing a stunning, often widening, gap between the two. They heavily imply that the poor are getting poorer while the rich are getting richer – but only half of this is correct. The lot of the world’s worst off [...]
Was the Autumn Statement a missed opportunity to tackle Britain’s housing crisis? Jeremy Leaf, a former RICS residential chairman, says Yes. As expected, the chancellor’s speech contained no reversal of stamp duty changes, withdrawal of mortgage interest relief proposals for landlords, or assistance for downsizers. This was despite the potential benefits for the wider economy of lower taxes, greater job mobility and more housebuilding. No measures were [...]
As the typical UK house price rises to six times annual earnings, should young people forget about ever buying? November 2, 2016 Ben Southwood, head of research at the Adam Smith Institute, says Yes. Unless something changes, few of today’s youth will ever own their own homes – there is simply not enough housing to go round. Home ownership has been falling, generation by generation. When they were 45, around 80 per cent of the cohort born in [...]
What should chancellor Philip Hammond prioritise in his Autumn Statement? October 24, 2016 Adam Marshall, director general of the British Chambers of Commerce, says infrastructure. Whether small or large, infrastructure schemes boost local business confidence, regenerate areas, create business opportunities for a vast array of UK firms, and “crowd in” related private sector investment. Given decades of underinvestment, chronic delays, deficient digital networks and lagging productivity, an infrastructure-focused stimulus [...]
As the Bank of England holds interest rates, is ultra-loose monetary policy a danger to financial stability? September 15, 2016 Baroness Altmann, a former pensions minister, says Yes. The Bank’s monetary policy is not only a potentially serious danger to financial stability, it also has damaging side effects that call into question the extent of easing it actually represents. The fallout from years of pushing both short and long rates lower is that capital markets and [...]
Forget discrimination: The gender pay gap is driven by our (free) choices August 23, 2016 The IFS is an excellent think tank but its latest paper adds nothing to the debate. It’s on the gender pay gap, which it slices in various ways, but none of these slices tells us anything new about discrimination in the workplace. The gender pay gap is actually driven by choices men and women make, [...]
End the stadium standing ban: It’s an open goal for football fans and clubs August 11, 2016 Twenty eight people died at the 30 June Stadium in Cairo last year, suffocating in a crush that began when police fired tear gas at away fans entering without tickets. It was another in a long line of stadium tragedies. But like the 2006 PhilSports Arena disaster in the Philippines, and the disasters in Johannesburg [...]
