Against the Grain: Rising bond yields – and why regulators should learn to live in the real world September 24, 2013 ARE GOVERNMENT bonds risky? The question arose this time last year, during a meeting with my bank. I wanted a low risk portfolio, but they noted that I did not want to hold UK government bonds. It was not quite clear whether it was the regulator who was insisting, or just the way my bank [...]
Energy price fixing and tax hikes would quickly see economic reality bite September 24, 2013 ED MILIBAND made two big new pledges in his speech yesterday: lower business rates for small businesses, paid for by higher corporation tax on larger firms; and a freeze in energy prices for 20 months from the date of the next election. Economic reality would quickly bite for any government that tried to introduce either [...]
Letters to the editor – 25/09 – Vanity project, Open for business, Best of Twitter September 24, 2013 Vanity project [Re: Labour’ prepared to drop support for HS2, yesterday] We already have an alternative to HS2. It is called the East Coast Main Line. With careful investment to improve pinch points at junctions and bridges, its capacity and speed could be significantly improved at a fraction of the cost of building a new line. [...]
RBS’s mad rise and catastrophic fall can’t all be blamed on Fred Goodwin September 23, 2013 IN THE boom years at the start of the twenty-first century, the Royal Bank of Scotland management came up with a marketing slogan. They would – it promised customers and rivals – “Make It Happen”. In giant type, the words were emblazoned on airport billboards and printed on tons of promotional material. A four minute [...]
Ed Miliband wants to take Britain on a stealthy path towards socialism September 23, 2013 WHEN will you bring back socialism?” Ed Miliband was asked on Saturday. “That’s what we’re doing, sir…” Miliband replied. “…democratic socialism. And what is that about? That is about a country that works for all and not just for some.” Some might question Miliband’s understanding. As the economist Thomas Sowell once said: “Socialism… has a [...]
Merkel’s triumph may mean check mate for Cameron’s EU reforms September 23, 2013 WITHOUT doubt, the German election is the critical political contest of the year. Chancellor Angela Merkel has won the most resounding German electoral victory since 1957, coming a mere five seats short of an absolute majority in the Bundestag, Germany’s lower house. The decisive re-election of David Cameron’s closest European ally must be good news [...]
Letters to the editor – 24/09 – German results, Shady chancellor, Best of Twitter September 23, 2013 German results [Re: What Germany’s shock election results mean for UK politics, yesterday] I would go a lot further than saying that “David Cameron is no Angela Merkel”. In fact, the Prime Minister is quite the opposite of Merkel. He has no clear vision to offer voters, and his personal popularity is a shadow of [...]
Forget Miliband: Today Ed Balls will define the terms of the next election September 22, 2013 TODAY’S speech by shadow chancellor Ed Balls is the most important event at this week’s Labour Conference. Ed Miliband will get all the attention, but Balls’ speech is the one that matters. What he says – and how he says it – will determine the fate of British politics for the next two years. Miliband [...]
City Matters: Why business must have a rational debate about the UK’s place in the EU September 22, 2013 THE EUROPEAN debate has always had a tendency to stir emotional responses on both sides that miss – or ignore – the real facts. That makes it all the more important to make the case for a rational analysis of our relationship with Brussels. And as part of this analysis, it is vital that we [...]
We can’t wait until 2015 while politicians dither over the UK airport crisis September 22, 2013 I LEARNED long ago not to listen to what politicians say, but to watch what they do. All parties pay lip-service to doing what it takes to be globally competitive, to create jobs and wealth in a fast-changing, ever more challenging world. But simply by doing nothing, those we elect to govern us are in [...]