From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
Forget secular stagnation: America shows why the pessimists are wrong February 26, 2015 The US economic recovery is gathering momentum. January’s impressive labour market report showed that the US is in the midst of a long, sustainable upswing that could surpass any other business cycle in the post-1945 era. QE has proved to be a powerful monetary policy tool in the US. Low short- and long-term interest rates [...]
Growth and investment: The unintended victims of financial crime regulation February 26, 2015 It is perhaps the starkest example of the unintended consequences of regulatory reform that it is now so difficult to open a bank account at any UK financial institution, particularly for foreign investors. What began as a challenge to money launderers is now a palpable threat to the City’s position as one of the world’s [...]
London should take a cue from Paris to build transport of the future February 26, 2015 The Chancellor and mayor of London set out a long-term economic plan for the capital last week, challenging London’s transport authority and business community to make the case for much-needed infrastructure investment ahead of the next spending review. This commitment is hugely welcome. We desperately need to future-proof our transport network, as London’s population is [...]
As RBS reports a £3.5bn loss, is George Osborne right that senior executives should not get bonuses? February 26, 2015 Steve Davies, education director at the Institute of Economic Affairs, says Yes The question is not whether bonuses are the correct way to remunerate people. It is whether RBS should be making such payments when the bank is incurring serious losses. Clearly, the answer should be no. When a business is in financial straits, the [...]
Could one of these designs be London’s newest bridge from Nine Elms to Pimlico? February 26, 2015 One of the best things about having an enormous tidal river running right through your city is you can build a whole bunch of spectacular bridges across it. Tower Bridge is one of the most iconic structures in the world and, while London Bridge was falling down for a time, it’s now pretty sturdy and [...]
Get rich quick: Why buying a luxury home near Crossrail could earn you lots of money February 26, 2015 No one who commutes into work on the Tube can have failed to have noticed the disruption that the construction of Crossrail is causing. With Tottenham Court Road station closed until December to build its new central London hub, you could be forgiven for thinking “is it all worth it?” Well, if you’ve got one [...]
Last chance to buy at Bentley Priory RAF base: Mews house played key role in the Battle of Britain February 26, 2015 It’s customary in London’s energetic property market for buildings to change uses several times. But few have had multiple lives like Bentley Priory. The former mansion house in Stanmore, north west London, was originally a grand, private home designed by legendary architect Sir John Soanes, whose work also includes the Bank of England and the [...]
We shouldn’t be scathing of the rental market – it can offer real benefits February 26, 2015 Commentators report that home ownership is down to its lowest point in a generation, while in the same breath claiming that those living in the private rented sector (PRS) are at peak levels. Somehow that always seems to imply that renting is a second class option. Your view on that depends whether you look at [...]
London towers vs low-rise living: Westminster is luring investors seeking modern quality homes in a historical part of town February 26, 2015 It’s out with the old and in with the new in one of London’s most historic boroughs. Westminster, home to such venerable and enduring institutions as Westminster Abbey, Whitehall and the Houses of Parliament, is well known for its period housing stock. Small streets are generally lined with Georgian townhouses and bookended by 18th century [...]
London Barometer: What’s happening to the capital’s house prices? February 26, 2015 There is clearly now much more activity in emerging prime areas than prime central London, with ongoing political uncertainties and the recent Stamp Duty Land Tax (SDLT) changes alluded to in our last Barometer now having a marked effect. More sellers coming to the market would seem to imply that high SDLT has been a [...]
