It’s more vital than ever after Brexit that the Northern Powerhouse is a success August 1, 2016 I have just returned from a tour of the “Northern Powerhouse” cities: Liverpool, Manchester, Leeds, and Sheffield. While this is a trip that nearly all my recent predecessors as lord mayor have made, this programme had added weight following the country’s vote to leave the European Union. It goes without saying that UK trade and [...]
Iceland’s reticence to unwind financial crisis capital controls will prove costly in the long term August 1, 2016 Whether because of the enthusiasm of its football commentators or interest in its EEA arrangement as a model for post-Brexit UK, Iceland has been in the news frequently recently. Its economy has been growing fairly rapidly in recent years, up around 30 per cent from its 2009 trough, though still more than 20 per cent below [...]
As French growth grinds to a halt, is the country’s economic model fundamentally broken? August 1, 2016 Tim Worstall, senior fellow of the Adam Smith Institute, says Yes. France’s economic model is irretrievably broken. Along one axis we have a spectrum of possible economic models. We can have low tax and redistribution market economies and high tax and redistribution ones. Non-market economies do not work. Further, the more we tax and redistribute, the [...]
How Britain can boldly seize the new opportunities created by Brexit in trade and beyond July 28, 2016 After the historic Brexit vote, the UK faces an inflection point, as does the world itself. What Britain does in the next few months and years will have a big impact on the global economy. We may choose to be timid about our future and limit ourselves to a muted conversation with the EU about [...]
Leaving the EU only strengthens the case for expanding both Gatwick and Heathrow July 28, 2016 As MPs prepare to jet off on their summer holidays, there is one big decision that awaits their return: where to build a new runway in London and the South East. This is a decision that has now dragged on beyond all belief. When the Airports Commission published its final report over a year ago, we [...]
Failure to reform refugee laws risks the unravelling of liberal democracy across swathes of Europe July 28, 2016 One of the great paradoxes of this era of globalisation is the narrowing of many Western minds about the world that lies beyond our own culture and values. For sure today’s opinion formers – and indeed the vast majority of our population – are better travelled than ever, but the dominance of US culture and [...]
As it says it’s in a “strong position to withstand uncertainty”, is Lloyds right to be so bullish after Brexit? July 28, 2016 Laith Khalaf, senior analyst at Hargreaves Lansdown, says Yes. It’s not a great time to be a bank, but the sector is in much better shape than it was going into the financial crisis. In particular Lloyds has simplified its structure to focus on key strengths in the UK retail and commercial banking market. There may [...]
The case for Hinkley Point C has collapsed: It’s time to scrap it July 28, 2016 Assuming its unions have not succeeded in stopping it, the board of EDF is today expected to wave through a decision on Hinkley C, the first new nuclear power station in the UK for 20 years and, at £18bn, the world’s most expensive power station. It’s easy to forget, Hinkley C was the future once. [...]
Charities must think more like business to stay ahead in a tough new environment July 28, 2016 An independent report published this week shows that the Prince’s Trust, the charity of which I am chairman, has returned £1.4bn in social value over the last 10 years. It is a figure of which we are immensely proud. Behind it lies a myriad of human stories. We have helped to transform thousands of young lives, [...]
We can’t trust Remainers to ensure that Brexit really does mean Brexit July 28, 2016 This has, so far, been the year of the underdog: Leicester won the Premiership, Hibernian the Scottish Cup, Portugal the European Football Championship, and the Leave camp the greatest bloodless political coup since the Glorious Revolution of 1688. This triumph of democracy has engendered a real sense of optimism and renewal. Unfortunately, things by their [...]