Why the consumer is no longer king March 7, 2011 WHY are so many people still in denial? The era of debt-fuelled spending, from the private and the public sector, is over. A crisis caused by excessive and underpriced debt cannot be resolved by borrowing even more. It is a simple proposition. Virtually all companies, many individuals and some governments now understand this – but [...]
Why the young are feeling worse off March 3, 2011 FORGET about class war; we are entering a new era of generational wars. There is a growing sense among younger people that they won’t enjoy as prosperous a life as their parents. It is easy to understand such concerns: powerful economic, technological, demographic and political forces are forcing the generations apart. For a start, the [...]
Labour goes to war over living costs February 28, 2011 THE squeeze on middle earners exploded into a political battle yesterday, after Labour leader Ed Miliband accused the government of imposing a “cost of living crisis for ordinary families… for years to come.” The Conservatives hit back, attacking Labour for causing “the deepest recession since the war” while leading the UK to a record annual [...]
Labour can’t solve cost of living crisis February 28, 2011 ONCE again, Labour is outmanoeuvring Britain’s increasingly hapless coalition. Ed Miliband’s chutzpah will be on full display this week: he will point out that the public is facing a cost of living crisis, while wrongly pinning all the blame for it on the coalition. Miliband is right to flag up the issue. An explosion of [...]
Petrol prices take political centre stage February 27, 2011 ED Balls yesterday called on the government to limit the impact of surging fuel prices by abolishing the recent rise in VAT on petrol. The shadow chancellor said the move would save 3p a litre, helping squeezed middle-income families to avoid a “cost of living crisis”. He said: “In Britain [petrol prices] have gone up [...]
Miliband to warn on inflation February 27, 2011 LABOUR leader Ed Miliband will today warn of a “cost of living crisis” for middle-earners, who he claims will be hit the hardest by looming inflation. Miliband will argue in a speech this morning that a mix of rising prices, spending cuts and benefit changes will make life difficult for middle-income families. In an effort [...]
A twenty-first century wine firm, bringing Burgundy’s reds to China February 27, 2011 What is it like to work for a firm with two and a half centuries of tradition at your back? Hew Blair says it “drives you forward,” and his young broking manager Tom Jenkins agrees. The wine merchant Justerini and Brooks, the first wine firm to receive the royal warrant, has provided wines for every [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]
Government eyes new levy on non-doms February 6, 2011 THE government is considering plans for a fresh crackdown on non-doms, which could see the existing levy extended at the Budget in March. In April 2008, the Labour government introduced a £30,000 annual charge for non-doms who had been living in the UK for seven years or more. Non doms are people resident in the UK [...]
Submissions to Vickers January 26, 2011 BARCLAYS Said a forced split would harm the stability of the system. “There is little empirical evidence to suggest that material structural change would enhance financial stability,” it said, warning that the UK economy would also suffer if the financial sector is curtailed. RBS RBS sought to quantify the benefits of the universal model, estimating [...]