Slump in tax receipts proof of deep crisis October 25, 2009 THE quality of Britain’s official statistics isn’t as bad as it used to be. But I wouldn’t be surprised if the 0.4 per cent decline in GDP reported on Friday is eventually revised upwards – time and again, the Office for National Statistics has rewritten economic history, sometimes radically, with the benefit of hindsight. There [...]
Windfall taxes cannot be the answer October 18, 2009 IF TAX policy were determined by referenda, London’s financial institutions would be in even greater trouble than they already are. I was a guest on James Max’s LBC radio show yesterday and it was soon clear that the overwhelming majority of callers hate banks with a passion. My own position, which is that it would [...]
Cameron’s real agenda is truly radical October 8, 2009 LET us hope that David Cameron truly believes in rolling back the failed culture of big government he so aptly described in his keynote address in Manchester yesterday; if he does, a Tory government could yet turn out to be far more revolutionary than most of us have been predicting. It was a good, though [...]
Cut debt, but not yet: CBI September 27, 2009 THE Confederation of British Industry (CBI) will today call for a faster, more aggressive approach to solving Britain’s public debt crisis as it sets out its business recommendations for a new government ahead of next year’s election. CBI deputy director-general John Cridland said the emphasis should be on balancing the government’s books by 2015/16, two [...]
Why Vince Cable’s tax plans are wrong September 21, 2009 HERE is something that will tell you everything you need to know about Vince Cable’s astonishing popularity. Yesterday, when the BBC was looking for independent commentators to talk about his controversial tax and spending plans, they could only find two non-aligned journalists who were willing to mount a robust critique of his record. I, needless [...]
…as Tories plan an emergency budget for 2010 September 15, 2009 CONSERVATIVE shadow chancellor George Osborne yesterday revealed he would call an emergency budget within weeks of a Tory victory. The Conservatives, who are widely tipped to gain power at the next election, have promised cuts in public spending, and are thought to be planning £30bn of defence cuts. Osborne also said he would instigate a [...]
HOW HURDLES CAN SAVE THE BONUS September 15, 2009 DAVID MARDLEHEAD OF EUROPEAN VENTURE CAPITAL, TAYLOR WESSING THE City’s “bonus culture” has come in for criticism since the onset of the credit crunch. Traditional models of share-based remuneration, while encouraging long-term growth, have lost much of their appeal in an era of shrinking corporate valuations. But skilled people still need to be paid well. [...]
Glistening gold gives ETF investors protection against future inflation September 9, 2009 EARLIER this week, gold powered through the psychologically important $1,000 an ounce level, rising as high as $1,007.45. December 2009 US gold futures rose to $1,009.4 per ounce. The rise in interest in gold has also caused ripples in the world of exchange-traded commodities (ETCs), where gold ETCs have seen the biggest inflows this year [...]
City Moves who’s switching jobs September 7, 2009 ActantLars Hjaltman has joined the exchange trading solutions firm as head of development, based in the UK but operating in the firm’s major markets across Europe and the US. Hjaltman has over 20 years of experience in technology and software development, having most recently been chief operating officer of Electronic Shipping Solutions. He has also [...]
Aviva plans Dutch listing of Delta Lloyd August 6, 2009 INSURER Aviva saw its shares rocket yesterday after it said profits recovered strongly in the first half as it unveiled plans to offer 25 to 30 per cent of its Dutch unit Delta Lloyd to markets in a move that could raise €1bn (£855m). Shares of the firm surged by 9.7 per cent after the [...]