Adair Turner’s analysis of the crisis is worryingly incomplete October 11, 2012 IF, like me, you believe that the bubble that blew up the global economy in 2007-08 was caused primarily by years of excessively loose monetary policy which pumped too much liquidity into the system, global imbalances that pushed down long-term interest rates, the promotion of sub-prime lending by the US authorities and massive moral hazard [...]
Cameron right to back strivers – but words aren’t enough October 10, 2012 LET us hope David Cameron actually means what he says. His speech to the Tory party conference yesterday was the best he has made in years. He outlined a different vision for Britain, appealing to the strivers who want to work hard and get on in life, a crucial audience whose disenchantment with the Tories [...]
Osborne should move fast and make Tucker next governor October 9, 2012 FORGET about speeches to the Tory party conference, or even the forthcoming Autumn Statement. George Osborne’s biggest decision of his entire chancellorship will be who he appoints to be the next governor of the Bank of England. No other unelected job in the UK comes with so much power: the governor is not just in [...]
Osborne should move fast and make Tucker next governor October 9, 2012 FORGET about speeches to the Tory party conference, or even the forthcoming Autumn Statement. George Osborne’s biggest decision of his entire chancellorship will be who he appoints to be the next governor of the Bank of England. No other unelected job in the UK comes with so much power: the governor is not just in [...]
Osborne’s employment incentives idea is no game changer October 8, 2012 FOR once, the government managed to unveil a policy yesterday that had not been pre-leaked. George Osborne’s latest plan combines two ideas: it seeks to better align staff and employer incentives; and to make the labour market more flexible. Employers will be able to make new job offers conditional on – and offer to existing [...]
Fiscal crisis won’t go away until taxes and benefits balance October 7, 2012 IT is good news that George Osborne and David Cameron have decided not to impose crippling tax hikes on property owners. There will be neither a mansion tax nor a wealth tax, while council tax will be frozen and – most importantly – homes won’t be revalued. This latter move would have delivered huge tax [...]
Outside prime London, house prices are falling back to earth October 4, 2012 IT is one of the most important economic stories of the past few years and yet the one that is least talked about. House prices in virtually all parts of the country excepting prime London have collapsed. It’s hard to believe if you live or aspire to live in Kensington, Richmond or another prosperous location, [...]
Outside prime London, house prices are falling back to earth October 4, 2012 IT is one of the most important economic stories of the past few years and yet the one that is least talked about. House prices in virtually all parts of the country excepting prime London have collapsed. It’s hard to believe if you live or aspire to live in Kensington, Richmond or another prosperous location, [...]
Lessons to be learnt from government’s rail franchise fiasco October 3, 2012 THERE are several lessons to be drawn from the government’s West Coast franchising disaster. For a start, it is hard to see why any government would want to take on Sir Richard Branson and his incumbent operator, Virgin – his PR skills are so superior to anything the government can muster that the final outcome [...]
Lessons to be learnt from government’s rail franchise fiasco October 3, 2012 THERE are several lessons to be drawn from the government’s West Coast franchising disaster. For a start, it is hard to see why any government would want to take on Sir Richard Branson and his incumbent operator, Virgin – his PR skills are so superior to anything the government can muster that the final outcome [...]