George Osborne’s HS3 high speed rail link criticised as vanity project June 23, 2014 Chancellor George Osborne’s plan for a High Speed 3 rail link between Manchester and Leeds in the north of the country has been dubbed a “costly vanity project” by a leading economic think tank. The Institute of Economic Affairs (IEA) yesterday accused the chancellor of “concocting” a headline-grabbing plan ahead of the election in 2015, [...]
Fat taxes could hit competitiveness thanks to complex rules says EU report July 29, 2014 Taxes on foods high in sugar, salt and fat, do reduce consumption but can lead to consumers simply switching brands or finding other ways to purchase fatty foods while avoiding the tax, according to a new report from the European Commission. Higher taxes "In general do lead to a reduction in the consumption of the [...]
NHS funding should target the old for tax hikes and benefit cuts, says report September 4, 2014 Higher earners over the age of 40 should be targeted for "critical needs taxes" if the UK is to keep up with demands from an increasingly strained NHS, a new report has said. Charges and private insurance were rejected as possible solutions by the report, compiled by a commission within charity the King's Fund. "We [...]
Ukip policies 2014: Immigration cap “lunacy”, “intellectually and morally bankrupt” and bad for business say economists September 26, 2014 Ukip has announced the immigration policy it will put before the British people at next year's general election. Ukip's spokesman on migration and financial affairs Steven Woolfe told the party's conference in Doncaster that net migration would be limited to 50,000 a year under an Australian-style points based system. The party also pledged to employ a further 2,500 [...]
UK oil output set to fall further as demand expands May 15, 2014 THE UK’S demand for oil rose to a near two-year high earlier this year, while UK North Sea production continues to fall, according to the IEA’s monthly oil report published yesterday. The surge in UK oil demand, which rose to a high of around 1.6m barrels per day in February, helped lift the estimate of [...]
Government could be sued for £11bn in legal showdown over tobacco packaging August 12, 2014 The government has been warned by one of the world's largest tobacco companies that it could be sued for as much as £11bn over plans for the mandatory plain packaging of cigarettes. Philip Morris International (PMI) said in an official submission to a government consultation on the measure it was prepared to "protect its rights [...]
Bitcoin and the future of free market money June 19, 2014 The correct government response to the rise of cryptocurrencies should be to allow free competition on a level playing field, according to a new monograph published by the Institute of Economic Affairs (IEA). New Private Monies: A Bit-Part Player? was launched at the IEA's offices in Westminster with a panel discussion in front of a [...]
Why Labour’s landlord plans will mean a better private rented sector September 10, 2014 Contrary to the views expressed by Ryan Bourne of the IEA, Labour’s reforms to the private rented sector are designed to address the chronic instability faced by families up and down the country. However, I agree wholeheartedly with his analysis that addressing the shortage of homes is paramount, and that’s why Labour has committed [...]
Mars lawyers slam tobacco plain packaging July 24, 2014 Lawyers for confectioner Mars have warned that plain packaging for tobacco could have a major impact on other products to the detriment of consumers, according betterRetailing. Should the government proceed with plans to introduce plain packaging, it could lead to brand names being put into plain type, as well as certain colours and shapes being removed [...]
Legalise medical marijuana: Colombian President labels war on drugs a failure August 15, 2014 Colombia's President Juan Manuel Santos has voiced his support for the legalisation of medical marijuana, which the Colombian congress is expected to vote on later this year. Speaking at a drugs policy forum, Santos told the audience: We look favorably on the initiative on the medical and therapeutic use of marijuana. It's a way to [...]