How decadent elites lost control of politics the world over October 10, 2016 To outsiders, Colombia’s recent referendum on ending its 53-year war with the Stalinist revolutionaries of the Farc seemed the ultimate no-brainer. Putting a merciful halt to a conflict that has killed a horrendous 220,000 souls would seem to require little thought. Yet when earnest President Juan Manuel Santos put his peace deal to a nationwide [...]
Britain has a golden opportunity to leapfrog the EU and secure a free trade deal with the Gulf States October 10, 2016 As Britain’s departure from the European Union draws closer, concern over the country’s economic prosperity is mounting. It shouldn’t. Britain has long-standing allies in the Gulf who will work hard to negotiate a free trade agreement that benefits all. The six Gulf states of Saudi Arabia, Kuwait, United Arab Emirates, Oman, Bahrain and Qatar are part [...]
Getting the wrong Brexit deal on financial services will hurt more than just London October 10, 2016 Research released last week said the Brexit impact on financial services will “vary dramatically with how much access to the EU is retained”. This excellent report, produced by consultants Oliver Wyman and commissioned by TheCityUK, with input from senior industry practitioners and the major trade associations, comes at a good time. What they have done is [...]
This is Me: Let’s talk about mental health to end the stigma in the City October 10, 2016 Today may be World Mental Health Day, but if you’re an employer, or indeed an employee, mental health should always be top of your agenda. Stress and poor mental health in the workplace are commonplace. Last week, a survey by Business in the Community and YouGov, supported by Mind, revealed that 62 per cent of [...]
After a torrid time for sterling, is the UK economy heading for trouble? October 10, 2016 Andrew Sentance, senior economic adviser to PwC and former member of the Bank of England’s MPC, says Yes. It is not just Brexit which is undermining sterling at present. The UK has a large balance of payments deficit. The government still has a large deficit – and Philip Hammond seems more relaxed than George Osborne about [...]
Don’t kid yourself Hillary will be a good President October 7, 2016 For all the attention lavished on Donald Trump’s many flaws, there’s a deafening silence in the UK media about Hillary Clinton’s own defects as a US presidential candidate. They are not unconnected. Given the Republican’s illiberalism, nobody seems to want to say anything that might undermine the only person standing between him and the most [...]
The vice-presidential debate confirmed that Trumpism won’t die with Donald Trump’s defeat October 6, 2016 Governor Mike Pence is thought to be the winner of Tuesday night’s US vice presidential debate. Some believe this is good news for Donald Trump: his running-mate pulling out a win may help to cushion his sharp drop in the polls since the first presidential debate. But personally, I think Pence’s success has further highlighted [...]
As the government gives fracking the go-ahead, will shale be the energy game changer for the UK that it’s been for the US? October 6, 2016 Steve Elliott, chief executive of the Chemical Industries Association, says Yes. Concerns that UK energy is expensive, and may be insecure, undermine investment. We need firms to invest in the UK, and fracking for shale will help. The UK chemical industry supports the development of unconventional gas (including shale gas) while protecting the environment, public health [...]
Don’t blame businesses for hiring foreign staff. Improve British skills October 6, 2016 Home secretary Amber Rudd provoked outrage this week for suggesting that companies should list the number of foreign workers they employ. For many in the business community, it hit a raw nerve at a sensitive time. EU nationals that call the UK home and have set up fast-growth businesses, or joined talented global teams, are already [...]
The dramatic fall in sterling is a cause for celebration – not depression October 6, 2016 Sterling is now trading at well under $1.30 to the pound, the lowest it has been for 31 years. Is this a cause for gloom or celebration? Most people seem to be depressed by what is happening, but they ought to be rejoicing. The UK’s exchange rate rose massively during the monetarist era in the [...]