Taxation shouldn’t be determined by subjective opinions of fairness August 27, 2012 THE Treasury’s latest consultation – Ensuring the Fair Taxation of UK Residential Property Transactions – has just closed. We responded to it, and disagreed not only with the substance of the policies, but also the way in which the consultation was framed around the vaguest of concepts: “fairness”. The main proposal is for a graduated [...]
We’ve been here before: Britain’s decline and fall is not inevitable September 3, 2012 THERE is one, single policy issue that dominates British politics today: the economy. It is the preeminent issue that determines the welfare of British citizens. Whether they have a job, how well paid they are in that job, what taxes they have to pay, what healthcare and pensions they get, how good their children’s education [...]
Analyst Views | What does this mean for the world economy? January 2, 2013 KEVIN BURROWES PWC UK banks will breathe a sigh of relief today as the threat of the biggest economy slipping back into a recession diminishes.” KIT JUCKES SOCIÉTÉ GÉNÉRALE 2013 GDP growth is now likely to be 2–2.5 per cent, and the chances of [second half] growth exceeding three per cent are significant.” DAN MORRIS [...]
Fear of higher tax sparks end of year sell-off December 9, 2012 INVESTORS typically sell stocks to cut their losses at year end. But worries about the fiscal cliff – and the possibility of higher taxes in 2013 – may act as the greatest incentive to sell both winners and losers by 31 December. The $600bn (£374bn) of automatic tax increases and spending cuts scheduled for the [...]
France unveils tax raid on home owners, energy firms and banks July 4, 2012 FRANCE’S new socialist government announced tax rises worth €7.2bn yesterday, including heavy one-off levies on wealthy households and big corporations. In the first major raft of economic measures since Francois Hollande was elected president in May, the government singled out large companies and the rich. British owners of second homes in France are set to [...]
The French bank chief fighting back against hostile politicians February 17, 2013 FRANCE has never been the friendliest country for bankers to work in. Its suspicion of capitalism and enduring official support for a short working week don’t make for a natural fit with the fast-paced world of high finance. Hence many of the country’s best and brightest have moved to more welcoming shores. But Société Générale’s [...]
US growth falls off a cliff again January 30, 2013 THE US economy shrank unexpectedly in the final three months of 2012, official figures showed yesterday, taking markets and analysts by surprise. Ben Bernanke at the Federal Reserve responded by holding interest rates at record lows and continuing to print $85bn (£53.8bn) a month to buy government bonds and mortgage backed securities. Stocks dipped on [...]
A champagne prize for the worst Treasury team in modern British history July 31, 2012 AN ENJOYABLE way of spending a few relaxing holiday hours on the beach is to think about the best team that ever played a particular sport. It can be the team as a whole – for example, is the 2012 British Olympic gymnastic team better than its Russian equivalent in 1980? Or you can construct [...]
There are pitfalls to avoid when filing your tax return January 20, 2013 THE online tax return deadline – the paper return deadline has long since past – is at the end of this month (31 January). The process is a dreaded one, but it is important to get it right. Recently the number of people who are self-employed has been on the rise – but they’re not [...]
FTSE 100 predicted to top 6,000 in 2013 despite US budget hangover January 1, 2013 BRITAIN’S FTSE 100 index closed down 27.56 points on the final day of 2012 trading as investors remained anxious over whether US lawmakers can agree crucial budget strategy and avoid the “fiscal cliff”. But despite the fall, to a close of 5,897.81, analysts predict the blue chip share index will rise 8 per cent by [...]