How betting markets could solve the problem of inaccurate Bank forecasts August 27, 2013 IN HIS first major speech since becoming governor of the Bank of England, Mark Carney is today likely to defend a policy that has come to be described as the “Carney rule”. Also known as forward guidance, the rule effectively promises that interest rates will stay at present levels until unemployment drops below 7 per [...]
Against the Grain: The recovery isn’t unsustainable – but we could learn from the US on austerity August 27, 2013 SOME people are never satisfied. The evidence is mounting that the UK economy is now on the path to recovery. But to those who denied the possibility of any economic revival at all under the policies of “austerity”, this is simply not good enough. It is the wrong kind of recovery, they say. Fuelled by [...]
Limited strikes against Assad would solve little in Syria’s miserable war August 27, 2013 THE USE of chemical weapons on a massive scale in the area around Syria’s capital Damascus has understandably elicited condemnation from the international community – including both Russia and Iran. And we seem to be clear on where responsibility lies. The League of Arab States and many Western powers now state clearly that the [...]
Letters to the editor – 28/08 – Better rail policy, Best of Twitter August 27, 2013 Better rail policy [Re: Labour threatens to redesign HS2 link, yesterday] In the nineteenth century, railways were built with private capital. But there is also a modern private sector solution to capacity problems on routes like the West Coast Main Line – to develop a new line for 75 miles per hour freight trains. This can [...]
Traditional university is on the cusp of a digital revolution – but it should survive August 26, 2013 VISIT any British university this autumn and you’ll see Britain’s fresh-faced youth being taught by academics in lecture halls, seminars, and (at the swanky end) tutorials. Although we live in an age when industry after industry has been transformed by the internet, almost all the teaching in our universities goes on face-to-face, in person. But [...]
We don’t need to look to US Republicans to find a crisis in conservatism August 26, 2013 RELATIONS between the UK Conservative Party and US Republicans are at an all-time low. Ask some Republicans their view of David Cameron’s Tories, and many talk disparagingly of “Barack Obama’s friends”. And many Conservatives aren’t unhappy about this, with the conventional wisdom on the state of US politics recently expounded by Tory MP Jesse Norman. [...]
Transparency over the true cost of investment is more vital than ever August 26, 2013 MARK Carney has been lauded by homeowners for giving forward projections on interest rates, now set to deliver record low mortgage bills for the forseeable future. Yet after four years of 0.5 per cent interest rates, many will see forward guidance as the final nail in the coffin for cash-based savings. There is already strong [...]
Letters to the Editor – 27/08 – HS2 alternatives, Foreign buyers, Best of Twitter August 26, 2013 HS2 alternatives Environmental opponents of the High Speed Two plans should consider the alternatives more carefully. The fact is we need more capacity, and no way of achieving this will leave the countryside entirely untouched. Some call for the widening of existing West Coast Mainline tracks, and the introduction of double-decker trains. But these options [...]
Why far too many young people still struggle to find work after education August 22, 2013 AFTER a summer-size portion of angst and anticipation, judgement day has finally been and gone. More than 600,000 households across the country will be waking up today with the hangover of GCSE results. While some will be bounding out of bed, excited about sixth form in September, a drop in top grades and a falling [...]
There’s no point in a financial services Trip Advisor unless reputation matters August 22, 2013 ONCE again, a major mis-selling scandal has broken out, with 13 high street banks and credit card issuers facing a £1.3bn redress bill for mis-sold card protection policies. No amount of financial regulation seems to stop the flow. Until 1986, there were no mis-selling scandals. The sales of financial products were regulated by contract law [...]