Is China the new Japan? Why markets are testing whether China will permanently slow to growth of two or three per cent February 3, 2016 Some 25 years ago the world’s then largest ever credit bubble burst, sending the Tokyo stock market index tumbling and Japanese real estate prices into freefall. Now it’s the turn of China to deflate as it surpasses Japan as the world’s biggest credit bubble. The cost for Japan can be measured in terms of its long-period of slow GDP [...]
George Osborne is playing a dangerous game with the new Help to Buy London February 1, 2016 George Osborne is playing a dangerous game with the new Help to Buy London Back during the Autumn Statement, George Osborne announced with great pleasure that he would be introducing a London-specific Help to Buy scheme. The government are going to give a hand to struggling homeowners, to get on the first rung of a [...]
London house prices: Housebuilding is falling in the capital – so rip up planning rules and start again January 29, 2016 Help to Buy. The Help to Buy Isa. NewBuy. Right to Buy. Shared ownership. As the housing crisis worsened in recent years, there was no shortage of government schemes aimed at helping first-time buyers reach that crucial bottom rung on the housing ladder. In the capital, it is becoming increasingly obvious gentle encouragement from George [...]
Megacity London: Our next mayor needs the ambition to match the scale of the challenge January 28, 2016 The next mayor of London will have some difficult decisions to make. Forecast to reach 9m residents by 2020 and 10m by 2030, the capital’s soon-to-be status as a “megacity” will bring with it both significant challenges and opportunities. This evening, the main candidates standing to be the next mayor will be setting out their [...]
FTSE 100 index closes in a bear market as the price of oil falls further January 20, 2016 The FTSE 100 index officially fell into a bear market on Wednesday as the price of oil continued to slide. The UK's blue-chip index fell 3.46 per cent to 5,673 points, falling over 20 per cent from the high it reached in April 2015. "Few stocks were spared today as European equity markets plunged sharply today with the FTSE 100 [...]
London mayoral election 2016: Conservative candidate Zac Goldsmith lays out “vision for London” January 19, 2016 Conservative candidate for Mayor of London Zac Goldsmith will today set out his vision for London if elected in May. The Richmond Park MP's plan aims to "build on the city's economic strength" under current mayor Boris Johnson, and will focus on four key areas: housing, transport, living environment and crime. "We can take London’s success and make [...]
Generation Rent is fleeing London as housing costs soar January 15, 2016 Is London bracing for a mass exodus of millennials? The capital’s exorbitant housing costs are hardly news, but a new survey suggests that the situation is getting so bad that more than 80 per cent of London’s twenty-somethings may be sent packing to other parts of the UK. At £1,507, the average monthly rent for [...]
Labour MP John Mann wants to charge £1000 membership fee to Labour party members who own houses worth more than £1m January 14, 2016 A leading Labour MP is proposing a so-called wealth tax to "save the Labour Party" from financial ruin. John Mann, the MP for Bassetlaw, said in a blog post on his website today that Labour should charge party members with properties valued at over £1m a "Labour wealth tax of £1,000 a year". "It will raise significant money and [...]
EU migrant crisis: Europe can turn the current human disaster into an economic opportunity January 13, 2016 This quarter’s CFO Global Business Outlook Survey – the quarterly survey of over a thousand global Chief Financial Officers – reveals that optimism is now stabilising at levels compatible with low but positive economic growth. On the other hand, European and US CFOs list the difficulty in attracting and retaining qualified employees as one of [...]
Think tanks urge people to be able to choose for themselves on sugar January 13, 2016 Controversial sugar tax proposals have been slammed by an economic think tank, following hints by Prime Minister David Cameron last week that the government could introduce a tax on sugary drinks this year. The Institute of Economic Affairs (IEA) has today published a report sharply criticising the plans, labelling them “regressive, inefficient and unpopular”. Lobby [...]