IEA says oil market is starting to turn a corner after record highs April 12, 2012 GROWTH in oil supply has outstripped rising demand for the first time since 2009, the International Energy Agency said yesterday, adding that it “detects a turning of the tide for market fundamentals”. Global supply is expected to grow by 0.7m barrels per day during the year, despite unplanned stoppages in the North Sea and elsewhere [...]
Yet another Greek bailout will change nothing without structural reform November 27, 2012 ANOTHER bailout deal has been secured for Greece. Some of the country’s borrowing will be written off – it will be left with a debt to GDP ratio of “only” 125 per cent. But is this the end of the matter or another failure by Europe’s elite to face up to the real problems? With [...]
A radical proposal for privatising the UK’s road network October 29, 2012 GOVERNMENTS have used motorists as a cash cow for decades. Fuel duty and road tax raise around £35bn a year, while less than £10bn is spent on road maintenance and improvements. As motoring taxes have increased, investment in new road capacity has collapsed. Transport policy has gradually become dominated by an agenda that seeks to [...]
A radical proposal for privatising the UK’s road network October 29, 2012 GOVERNMENTS have used motorists as a cash cow for decades. Fuel duty and road tax raise around £35bn a year, while less than £10bn is spent on road maintenance and improvements. As motoring taxes have increased, investment in new road capacity has collapsed. Transport policy has gradually become dominated by an agenda that seeks to [...]
Two cheers for infrastructure support plans July 18, 2012 INDUSTRY groups came out in favour of the Treasury’s new UK Guarantees scheme yesterday, but economic think-tank the Institute of Economic Affairs (IEA) was opposed. “The business community will be heartened to see signs of innovative thinking on infrastructure financing,” said Adam Marshall at the British Chambers of Commerce. Other business lobby groups including the [...]
The success of Scandinavia owes nothing to high taxes or welfare September 10, 2012 SCANDINAVIAN nations are often regarded as role models. Egalitarian Richard Wilkinson once said that, if you want to live the American dream, you should live in Denmark. Sweden often gets envious glances from social democrats in the Anglophone world. Scandinavian societies are characterised by high living standards, high life expectancy, low crime rates, high social [...]
As David Cameron completes the coalition’s first major reshuffle, will it prove successful? September 4, 2012 YES Alex Singleton Yesterday’s reshuffle will reinvigorate the government in three ways. First, by booting the ultra-liberal Ken Clarke out from Justice, David Cameron has regained control over a key part of government policy. Secondly, the fresh face at the Department for International Development, Justine Greening, will help shake up a department that continues to [...]
City Moves | Who’s switching Jobs August 21, 2012 Chartered Institute of Internal Auditors David Lyscom has been appointed policy director of the professional membership body. He is a former UK ambassador to the Organisation for Economic Cooperation and Development (OECD), and was also previously UK ambassador to Slovakia and the International Energy Agency (IEA). He will report to Dr Ian Peters, the institute’s [...]
Is the Bank of England’s Adam Posen right to suggest expanding QE beyond gilt purchases? August 13, 2012 YES Will Straw Last year, Adam Posen stood alone on the Monetary Policy Committee in predicting that Britain’s recovery was faltering. Now we’re back in recession, his advice on unconventional quantitative easing (QE) should be heeded. QE has been a modest success in preventing the economy from slipping into a depression. And, despite siren warnings, [...]
The ideas emerging from Lib Dem conference dissolve under scrutiny September 24, 2012 SOMETIMES, it’s hard not to feel rather sorry for the Liberal Democrats. After the public relations disaster of Nick Clegg’s toe-curling apology on tuition fees last week, the party faithful have gathered in Brighton only to be battered by violent storms. The Lib Dem leadership was hoping to pilot a course to sunnier political climes [...]