As third quarter figures disappoint, could the UK be heading towards a triple-dip recession? January 13, 2013 YES Chris Williamson The data available so far for the fourth quarter of 2012 points to a marginal contraction of the economy. Manufacturing output, retail sales, exports and tax revenues are all falling. The big question is whether GDP will also fall in the first quarter of 2013. The Markit/CIPS manufacturing purchasing managers index (PMI) [...]
Letters to the editor January 13, 2013 EU membership [Re: Britain is bound to a Single Market at the expense of freedom to trade, Friday] This is a good article, and it’s encouraging to hear that Britain could thrive outside the EU. I can’t understand why so many politicians are so committed. Recent unrest in the southern Mediterranean and German economic stagnation [...]
Britain is bound to a Single Market at the expense of freedom to trade January 10, 2013 HOW often do we hear politicians claiming that “half our exports” go to the EU? I’m not sure this statistic was ever properly true. The data has been distorted in two ways. First, there is what economists call the “Rotterdam effect”: many British exports destined for non-EU markets are routed through Antwerp and Rotterdam, thus [...]
The lessons of politicians aren’t worth mulling over your breakfast Frosties January 10, 2013 TWO weeks into my New Year’s resolution and it’s already time to admit that it’s not going well. At least I can take some comfort in the knowledge that the coalition hasn’t lived up to its promises either, missing 70 election pledges according to its mid-term audit. When I fail to hit my weekly target [...]
The UK’s credit rating will fall victim to the failure to tweak RPI January 10, 2013 WHEN asked who your favourite chancellor is, it’s fashionable to reply William Gladstone. He is the man who helped construct the Victorian liberal state, based on free trade and small government. But while Gladstone was certainly brilliant, my own choice is Neville Chamberlain, who successfully steered Britain out of the 1930s Depression. It was a [...]
After clothing sales slumped at M&S, can the traditional high street retailer survive? January 10, 2013 YES Neil Saunders Retail can be seen as a game of two halves. Last year, spending through physical outlets grew by 0.2 per cent, whereas online retail spending grew by 13 per cent. But while the growth of online has put pressure on physical retailing, the situation is not all doom and gloom. Firstly, the [...]
Letters to the editor January 10, 2013 The cyber threat [Re: Technology alone can’t save businesses from the threat of cyber criminals, yesterday] I want to thank Tom Burton for his excellent article. I wonder if the secrecy culture with which the anti-cyber crime industry surrounds itself, for fear of educating the criminal, is not actually hurting its cause. Having worked in [...]
Technology alone can’t save businesses from the threat of cyber criminals January 9, 2013 BRITAIN’s national security is in peril. According to a report released yesterday by the House of Commons Defence Select Committee, the threat to British IT systems from cyber attack is both rapidly evolving and increasingly significant. And it’s hard not to be convinced of the potential for disaster. In 2010, a highly-sophisticated computer worm known [...]
Bank regulators finally realise their decisions can help or hinder the economy January 9, 2013 WHAT was that bang? A lot of people are hearing the sound of stable doors being slammed shut after the horses have bolted. Professor John Kay – a trenchant critic of banks – wrote about it yesterday, saying that, after the financial crisis, it was natural for politicians to rush to solve yesterday’s problems. One [...]
The business case for a referendum on EU membership January 9, 2013 IN ALL likelihood, David Cameron will soon commit to holding an in-out referendum on Britain’s EU membership. Unsurprisingly, this has provoked a campaign against giving people a say on who ultimately governs us. There are two arguments. First, that “now is not the right time”, because speculation about the possibility of a referendum would create [...]