When politics Trump prices, markets are no longer free Opinion In any other context, a system where a single individual can move markets so abruptly would raise serious questions about resilience and fairness. With Donald Trump, it is simply accepted, says Tim Focas The most striking thing about this week’s oil market moves is not that traders placed half a billion dollars of bets ahead [...]
Reform’s sovereign wealth pitch risks raiding pensions not reviving growth Opinion Reform’s Richard Tice’s plan to consolidate local council pension schemes fundamentally misunderstands the nature of fiduciary duty, says Tim Focas Behind the rhetoric of Reform’s proposal to consolidate local council pension schemes into a near £500bn sovereign wealth fund lies a major misunderstanding of what these pension assets are and who they exist to serve. [...]
Slow Berne: The UK-Switzerland financial services agreement is a quiet Brexit victory Opinion The Berne Financial Services Agreement is a mature, alignment and recognition deal that replaces regulatory empire building with mutual recognition, and political symbolism with commercial reality, says Tim Focas New Year is usually a moment for resolutions, reflection and overconfident promises about the year ahead. Politics, by contrast, tends to start January exactly as it [...]
Switzerland has rejected wealth taxes: Westminster should take note December 17, 2025 Swiss voters have overwhelmingly rejected a proposed 50 per cent inheritance tax, proving that individuals in a democracy understand that confidence in a jurisdiction can evaporate quickly, says Tim Focas Swiss voters have issued one of the clearest democratic verdicts on wealth and capital in recent memory. Last month, more than eight in ten rejected [...]
UK markets need radical reform, not the Chancellor’s endless tweaks November 27, 2025 ISA reform and stamp duty relief are sticking plasters for a stock market that needs major surgery, writes Tim Focas.
Scotland’s bond gambit is a political game of kilts vs gilts November 19, 2025 The SNP’s plan to issue quasi-sovereign bonds is little more than a political gesture that will ultimately push up the price of borrowing, says Tim Focas The Scottish government’s plan to issue its first-ever £1.5bn of quasi-sovereign bonds, known as “kilts”, is being pitched as a confident stride towards financial maturity. In reality, it looks [...]
Britain can’t behave like Brussels and expect to trade like Wall Street November 11, 2025 The UK’s post-Brexit reform to anonymise short-selling disclosures is a positive step, but it will only succeed if it is accompanied by a fundamental shift from blunt regulation to market-led innovation in data analytics and technology-driven transparency, says Tim Focas Britain’s post-Brexit financial debate often concludes with a tired binary view that deregulation equals danger, [...]
Farage’s crypto fantasies are a risk British taxpayers can’t afford to take October 15, 2025 Nigel Farage’s proposed crypto policies — including a £5bn national bitcoin reserve, a flat 10 per cent crypto tax, and rejection of a digital pound — are bold in rhetoric but economically reckless, risking public funds on volatile assets and undermining fiscal stability, says Tim Focas Nigel Farage has taken to the stage at the [...]
Reeves, beware the bond vigilantes: the dark knights of the City September 11, 2025 As UK 30-year gilt yields surge to record levels, Tim Focus warns Chancellor Reeves of the threat of bond vigilantes.
Oasis revival is a reminder that – on fiscal policy – you don’t just roll with it August 6, 2025 The 1990s were a turbulent time for Britain’s economy and Oasis’ anthems are a reminder of that time – and a warning about an uncertain future, says Tim Focas Oasis are back. Thirty years after their Britpop heyday, the Gallagher brothers are selling out stadiums once again. But their return isn’t just about nostalgia. Their [...]
