Six reasons this rail plan is a mistake January 10, 2012 IF money grew on trees, the government’s London-Birmingham HS2 high-speed rail scheme would be a good thing. Unfortunately, the nation faces fiscal Armageddon; so here are six reasons (there are many more) why the coalition is wrong to back HS2. 1) Like virtually all government infrastructure projects, the costs of this grandiose white elephant will [...]
To revive a weak economy small firms must be able to become tomorrow’s giants January 8, 2012 AT THE dawn of a New Year, one bright spot across the gloom of the economic horizon remains Britain’s army of entrepreneurs – those remarkable men and women who have the drive and passion to launch and run their own business. For it is these often family-owned ventures – the small and medium enterprises (SME) [...]
The City of London needs a Europe strategy that does not lead to it being sidelined December 18, 2011 FEAR is stalking parts of the city that Brussels is determined to undermine its competitiveness. But ask any senior banker or businessman what particular measure it is that Britain needs saving from, they draw a blank. The implementation of a Financial Transactions Tax (FTT) in the EU alone, and not on a global level, would [...]
Cameron must persist with EU reform strategy December 11, 2011 NOW that the dust is beginning to settle on last week’s tumultuous EU summit, where Prime Minister David Cameron blocked a change in the EU treaty, we can start to assess the consequences of his decision. So, what could the summit outcome actually mean for UK financial services? Despite the clamour in much of the [...]
Only fools rush in where angels fear to invest December 7, 2011 THE government is offering a 50 per cent tax incentive to try to get high rollers to throw their money behind Britain’s most risky businesses. But even those earning enough to benefit from the tax break will mostly conclude that the threat of losing it all would be too great to take. The Seed Enterprise [...]
Coalition is confused about business December 6, 2011 WE love you – actually, no, we hate you. That, roughly speaking, seems to be the government’s attitude to business and business leaders. The signals are so mixed that they are utterly incomprehensible. Take tax policy and incentives. The official position is – well, there isn’t really one. The coalition is likely to retain the [...]
Osborne aims to reward the risk-takers December 6, 2011 BRITAIN’S entrepreneurs will have to prove their risk exposure to take advantage of a series of new tax breaks, according to draft rules published yesterday. The Treasury will allow larger firms to apply for venture capital trust and enterprise investment scheme (EIS) benefits from April next year, providing the plan meets European Union rules on [...]
DRAFT FINANCE BILL: KEY POINTS December 6, 2011 ● R&D TAX CREDIT: HM Treasury has introduced a “patent box” – a reduced corporate tax rate of 10 per cent for earnings from patented products, which is aimed at encouraging innovation in science and tech. ● NON-DOMS: Non-doms will get tax relief on cash they bring into the country to invest in UK companies, [...]
City says Osborne’s Autumn Statement won’t boost GDP December 4, 2011 THE policies unveiled in George Osborne’s Autumn Statement are unlikely to boost growth, according to the City A.M. / PoliticsHome.com Voice of the City panel. Some fifty-seven per cent of panellists said they were “sceptical” that the measures would boost growth, compared to 19 per cent who said they were “somewhat confident” and just one [...]
Time to bring our roads into the market economy: A bold vision for better transport December 1, 2011 IMAGINE a private utility that charged customers the same regardless of the service it provided. Imagine it raises £32bn in revenue per annum from those customers, but spends less than a third of it on maintaining and upgrading its assets. Everyone depends on its service, yet it is unreliable, frequently overwhelmed by demand and in [...]