Beware Blair: The West must not learn the wrong lessons from Iraq June 17, 2014 MUCH as I am intellectually fond of Boris Johnson, he is entirely wrong about both former Prime Minister Tony Blair and his motivation for speaking out on the present Iraq crisis. For those of us who were against the initial Iraq war (I lost my job in America for my pains), it was certainly emotionally [...]
Bubble trouble: We’re sacrificing financial stability for a growth illusion June 12, 2014 THERE is a growing conflict at the heart of economic policymaking – and a rising danger. The risk is that financial stability is being sacrificed on the altar of growth, and that memories of the financial crisis are growing short. Consider these recent disparate examples. Mario Draghi has boldly gone where no G7 central banker [...]
London house price danger flagged by IMF review June 6, 2014 The UK's government has this morning received a far more glowing appraisal from the International Monetary Fund (IMF) than it has become used to. The supranational organisation has delivered its Article IV mission findings, noting that the UK's economy "has rebounded strongly and growth is becoming more balanced". Among its other points, the IMF lists [...]
We should always heed the law of unintended consequences June 5, 2014 THERE were two reactions to yesterday’s Queen Speech: critics dismissed it as lightweight in the extreme, a collection of reheated policies seasoned with a little trivia; supporters celebrated a government that understands that passing fewer laws is often better than frenetic legislating. Both sides were wrong. For a start, there are revolutionary pension bills in [...]
We should always heed the law of unintended consequences June 4, 2014 THERE were two reactions to yesterday’s Queen Speech: critics dismissed it as lightweight in the extreme, a collection of reheated policies seasoned with a little trivia; supporters celebrated a government that understands that passing fewer laws is often better than frenetic legislating. Both sides were wrong. For a start, there are revolutionary pension bills in [...]
After years of political vandalism, UK pensions are on the mend June 2, 2014 BRITONS don’t save enough. The fact that we don’t put enough money aside for a rainy day, for our retirement or to finance long-term care, is one of our great weaknesses. There was a time when the UK was able to boast that we had the best pensions system in Europe; those days are long [...]
Polo maverick riding out the storm June 2, 2014 As thousands of fans head to Hurlingham for Polo in the Park this weekend, City A.M. chats to its founder, City veteran Daniel Fox-Davies AMONG the sun seekers flocking to Hurlingham Park this weekend for the sixth annual Polo in the Park will be one man with a good reason to smile – the event’s [...]
Osborne: Labour and Ukip will drag UK into decline May 20, 2014 THE CHANCELLOR George Osborne will deliver a stinging attack on Labour and Ukip in a speech later today, warning of job losses, falling wages and price rises if the parties’ anti-business agendas are allowed to win out in 2015. Addressing the Confederation of British Industry, Osborne is expected to take aim at Ed Miliband’s economic [...]
How London’s housing crisis threatens City businesses May 12, 2014 The high cost of London housing is affecting the capital's competitiveness, according to a new report from the London Chamber of Commerce and Industry. Soaring house price increases have outstripped wage increases, and so make "living in London unaffordable for many, affecting both employees and employers." 42 per cent of London businesses feel that their [...]
City Matters: The EU financial transaction tax will hurt the prudent – not the reckless May 12, 2014 THE IMPORTANT debate between the City and 11 EU governments on whether or not to introduce a tax on derivatives and shares continued last week. Both sides have scored victories, but now a more conciliatory tone is emerging, and this should be welcomed. With the European Court of Justice rejecting a pre-emptive challenge to this [...]