Letters to the Editor – 02/05 – Inflation spike, Rent controls, Best of Twitter May 1, 2014 Inflation spike [Re: How the Goldilocks recovery will trigger a sharp inflation rise, Wednesday] I would love to be Andrew Lilico’s bookmaker, as he’s agreed to a £1 to £1 bet against the odds. But I do agree with his analysis that there is little spare capacity in the UK. The underlying rate of growth [...]
Miliband’s swipe at landlords is no comfort for UK renters April 30, 2014 THE UK’s housing crisis is no secret, and political solutions are offered two a penny. Unfortunately, Ed Miliband’s plan to limit rents is perhaps the one thing that can be relied upon to make the situation worse for Britain’s renters. Like any price ceiling, Labour’s pledge will reduce available supply, as rents are capped below [...]
Why Britain shouldn’t fear a stronger pound April 30, 2014 THE RISING pound is causing some concern. “City squeezed by stronger pound” proclaimed the headline in Monday’s City A.M. – reporting the impact of sterling’s rise on the translation of overseas profits. There have also been worries that a rising pound could stifle the recovery of manufacturing output and exports. So what are the facts? [...]
Which UK industry has been left out of the rise in zero hours contracts? April 30, 2014 Businesses in the UK's financial industry are the least likely to make us of zero hours contracts, according to figures released by the Office of National Statistics (ONS). The proportion of businesses in the finance sector using zero hours contracts, which do not guarantee a minimum number of hours of work, came to just seven [...]
Just three reforms would transform UK recovery into long-term boom April 22, 2014 WHISPER it, but things finally seem to be looking up. Investment is rising, unemployment is falling, and the deficit seems to be coming under control. But it could be a lot better. Real wages will not recover to their pre-crisis peak until 2020. And expected growth of 2.7 per cent this year is well below [...]
Vince Cable is fighting yesterday’s battles on boardroom pay April 22, 2014 THE VINCE Cable show is back on the road. The business secretary is up to his old tricks again, waging war on business. He writes in a letter to FTSE bosses that “excessive and disproportionate pay damages popular trust in business” and that it “undermines business’ licence to operate”. It’s a shame he didn’t make [...]
Letters to the Editor – 23/04 – Labour’s spending, The West’s decline, Best of Twitter April 22, 2014 Labour’s spending [Re: The cost of living crisis isn’t over – but Ed Miliband still won’t solve it, yesterday] It is difficult to see how Labour intends to deal with high childcare costs, while also promising to raise the national minimum wage or introduce a (much higher) living wage. Unless the intention is just to [...]
Just three reforms would transform UK recovery into long-term boom April 22, 2014 WHISPER it, but things finally seem to be looking up. Investment is rising, unemployment is falling, and the deficit seems to be coming under control. But it could be a lot better. Real wages will not recover to their pre-crisis peak until 2020. And expected growth of 2.7 per cent this year is well below [...]
The cost of living crisis isn’t over – but Ed Miliband still won’t solve it April 21, 2014 PAY GROWTH at 1.7 per cent, inflation at 1.6 per cent on the consumer price index (CPI), real wages increasing. One commentator stated this was the coalition’s “mission accomplished” moment. People are starting to get better off after years of falling real wages, so the argument goes. Surely this is proof that the government’s “long-term [...]
Back to work: Real pay starts rising again after six years of pain April 17, 2014 THE SQUEEZE in real pay-packets that has hit workers over most of the last six years is coming to an end, with earnings finally rising faster than prices. Average total pay rose by 1.7 per cent in the December to February period compared to a year earlier – higher than the latest rate of inflation, [...]