Canada shows why aspiring to a free trade deal with the EU post-Brexit would be a huge gamble March 4, 2016 Campaigners for Britain to leave the EU won’t say what our trading relationship with Europe would be like after a Brexit. This is in part because they don’t know, but also because they would rather not say. None of the alternatives that have been established by other nations are that appealing. Norway, for example, has [...]
Will Project Fear swing the EU referendum in favour of the Remain campaign? March 4, 2016 Tom Mludzinski, director of political polling at ComRes, says Yes. Negative campaigning works. Voters may say that they don’t like it, but the reason it is employed by campaigns is that it does succeed in influencing the outcome. Negative messages tend to stick in the minds of voters more sharply. A campaign must not be solely [...]
Barclays, HSBC, Lloyds, RBS and Standard Chartered have lost billions since the start of the year – the British economy needs a vibrant banking sector March 3, 2016 Spare a thought for Britain's banks. Between them, Barclays, HSBC, Lloyds, RBS and Standard Chartered have lost almost £40bn in value since the start of the year. A savage cocktail of market volatility, increased costs, low interest rates, fines, regulatory burdens and sluggish global growth is taking its toll. In a dramatic illustration of the [...]
Donald Trump is right: The Federal Reserve has created the conditions for another financial crisis March 3, 2016 Following Super Tuesday, it’s time to start taking “the Donald” seriously, as the improbably-coiffed, globally-lampooned businessman now seems nearly certain to win the Republican nomination. Trump’s frequently bizarre outbursts, together with his left-field initiatives in foreign and domestic matters, have led many to disregard any remark he makes. However, and at the risk of losing [...]
The morning after Brexit: Why the UK should embrace free trade whatever deal it gets March 3, 2016 Quick recap. Last week I examined the three key aspects of our economic relationship with the EU (direct payments to the EU financed through higher UK taxation, the customs union, and the Single Market). Direct payments to the EU are obviously a cost. I also argued that the common external tariff (customs union) was negative [...]
Why Canada Corporation should not abandon neutrality over Brexit and endorse a vote for Remain March 3, 2016 Today, at 1pm precisely, a quaint and rather gorgeous ceremony will take place in Guildhall. Preceded by a swordbearer and a macebearer, the Lord Mayor of London will sweep majestically into the “Court of Common Council” to preside over the meeting of one of the world’s oldest democratic bodies continuously in existence, the City of [...]
London risks taking its global status for granted if housing crisis carries on unabated and cost of living continues to rise March 2, 2016 It's awards season, and from the Oscars to the Grammys gongs are being handed out left, right and centre. It’s an opportune time, therefore, to reflect on the accolades bestowed recently on our capital city. London cleaned up last year, taking the top spot in a clutch of surveys including EY’s European Attractiveness Survey, MasterCard’s [...]
Forget HS2: Only radical education reform will rescue the Northern Powerhouse March 2, 2016 The head of Ofsted, Sir Michael Wilshaw, warned last week that secondary schools in Liverpool and Manchester were “going into reverse”. Too many pupils in Northern towns and cities are simply not prepared for the next phase of their education, training or employment. In Liverpool, for example, four out of every ten schools are judged [...]
From airport expansion to energy policy, our politicians are shirking the big decisions – and it’s partly our fault March 2, 2016 It was good to see Morning Wire taking aim last month at the absence of long-term planning over energy policy. It is – and has been – an unholy mess for a long time with serious consequences for the economy and country. Only the most wild-eyed optimist would be reassured by EDF’s claim that construction of the [...]
Will Barclays’s restructuring programme actually improve prospects for the bank? March 2, 2016 Laith Khalaf, senior analyst at Hargreaves Lansdown, says Yes. Jes Staley, the new boss of Barclays, clearly takes the view that big is not necessarily beautiful when it comes to banking operations. The sale of the group’s African business and accelerated wind-down of non-core assets push Barclays further along the path of becoming a simplified [...]