With the Greece crisis now off the table, is Europe primed for an economic boom? July 21, 2015 Dr James Nixon is chief European economist at Oxford Economics, says Yes There’s no doubt that Europe’s problems stem from a massive failure of macroeconomic policy. The financial crisis of 2008 laid bare the single currency’s fundamental flaws, and ever since Europe has been fighting to put its house in order. The failure was to [...]
The Bank of England could – and should– have raised UK interest rates much sooner July 20, 2015 Heartening as it was to hear the governor of the Bank of England, Mark Carney, dropping hints last week about the raising of Bank Rate, serious doubts remain over the effectiveness of the low interest rate regime in reviving the economy. Moreover, the impression continues to be given that the delay in raising rates carries [...]
How the Eurozone could survive without building a European super state July 20, 2015 When the euro was adopted, British sceptics argued that it was impossible to have a single currency without a single country. They suggested that you need central control of fiscal policy to stop governments from borrowing too much. It was also argued that you would need huge fiscal transfers to depressed countries given that they [...]
Ivan Massow: I don’t love Heathrow – but we shouldn’t let Nimbyism block a crucial new runway July 20, 2015 It’s no secret that London Conservatives are deeply divided on Heathrow expansion. So far, I’m the party’s only mayoral candidate to support the Davies Commission’s recommendation that the airport should get a third runway. In fact, one of us would rather resign than see it happen. I was there when Jeffrey Archer “resigned” as the [...]
After concerns that it is veering left, is Labour in danger of making itself utterly unelectable? July 20, 2015 Ben Page, chief executive of Ipsos MORI, says Yes The US writer David Frum wrote: “when a political party offers voters ham and eggs and the voters say, ‘no, thanks’, its first instinct is to say, ‘OK then, how about double ham and double eggs?’” It is early days, but Labour has just suffered an [...]
Europe should rediscover its confidence in battling against China’s protectionism July 19, 2015 “Giving people self-confidence is by far the most important thing I can do. Because then they will act.” – former GE chief executive Jack Welch Beyond doubt, we are not living through a golden age for Europe. But just as feckless champions of the EU as a superpower have been found intellectually wanting, so [...]
We should be proud of our City – and what it contributes to UK society July 19, 2015 The City has had an action-packed fortnight, stuffed with events that each had a very different focus and a very different meaning. On 7/7, the whole country paused to reflect on the bombings of 2005. Sombre yet inspiring services were held across the UK, including at St Paul’s Cathedral, which provided opportunities to honour those [...]
The HS2 debate is over: It’s time to embrace the benefits July 19, 2015 One of the consequences of this year’s General Election is that HS2, the high-speed line from London to the Midlands and the North, is now almost certain to happen. The immediate challenge for London business is to take advantage of the huge opportunities it provides for regeneration and development in west London, where a new [...]
After it had its best week since 2009, will a stronger pound hit UK economic growth? July 19, 2015 Sam Alderson, an economist at the CEBR, says Yes. While the recent appreciation of sterling is unlikely to derail the UK’s largely domestic and consumption-driven recovery, it will act as a slight brake. But the real negative for the economy is the impact that the continued strength of the pound is having on the composition [...]
Why London must retain its lead as the world’s number one retail destination July 16, 2015 One thing underpins Britain’s economic recovery more than anything else: the resilience and potential of London’s economy. While the capital’s financial sector was first to feel the pain nearly a decade ago, London has also led the UK’s economic fightback – attracting global investment, growing employment and pushing up living standards. We are the world’s [...]