HS2 backers have completely failed to make a convincing case April 28, 2014 YESTERDAY saw the House of Commons give the green light to HS2 at second reading, with the bill now heading into Committee stage. And as the debate has twisted and turned over the years, so the justification for this huge taxpayer-funded rail project has mutated. At first, the reduction in journey times was considered the [...]
Business can help save the UK – but politicians must take Scotland’s vote more seriously April 28, 2014 THE CBI’s decision to withdraw from active participation in Scotland’s referendum is a major blow to the pro-union campaign. Scottish voters’ perceptions of whether they’ll be richer or poorer with independence will heavily influence how they vote, and what businesses say matters. There isn’t much room for error. The latest ICM poll shows the pro-union [...]
The government is right to tackle unconditional welfare April 28, 2014 THE GOVERNMENT has just taken an important step in the reform of Britain’s welfare system. It may have a cringeworthy name, but Help to Work, which came into effect yesterday, will have significant and beneficial consequences for both the long-term unemployed and UK taxpayers. While its roots can be traced back to the reign of [...]
Pay bosses in debt – not just equity – to deter future crisis April 24, 2014 THE FINANCIAL crisis saw chief executives undertake risky actions that cost society billions. Examples included irresponsible subprime lending and over-expansion through excessive leverage. Moreover, this problem has extended beyond financial institutions. Punch Taverns, for example, accumulated £2.3bn of debt through an expansion spree before the crisis, which has long been causing the business difficulties. Why? [...]
A terraced street revolution could end London’s housing crunch April 24, 2014 IN EXCELLENT news for anyone concerned about London’s housing crisis, local government secretary Eric Pickles has announced that he is looking at how post-war estates can be more comprehensively redeveloped into “traditional streetscapes.” He got it right when he said that traditional streets “can provide more housing and commercial space using the same amount of [...]
How Britain is wasting its real shale gas potential April 24, 2014 WITH the Ukraine crisis intensifying and concerns growing over its impact on energy security, the government has responded this week with rather inconsistent messages: it announced more multi-billion subsidies for unreliable renewable energy projects and another promise to speed up shale gas extraction in Britain. Speaking at a conference in Blackpool, and with a new [...]
Why freedom – not foreign aid – is the only real route to development April 23, 2014 INDIA, the world’s largest democracy, is currently holding the world’s longest general election. But does this mean India is economically and politically free, in the sense that it provides the degree of openness required for fertile economic growth? I think not. National and local contexts will differ between Mumbai and Dubai, the UK and the [...]
Crime’s collapse masks the march of the cyber criminal April 23, 2014 IN AN era of squeezed budgets and public services under pressure, the police service continues to defy expectations. Yesterday had more good news, with data from A&E departments indicating a dramatic reduction in violent crime. A new study, led by professor Jonathan Shepherd at Cardiff University, found a 12 per cent fall in injuries due [...]
Sanctions on Russia will hurt – but doing nothing also has a price April 23, 2014 EUROPEAN leaders were quick to say Russia’s annexation of Crimea was “unacceptable”, but mostly accepted it. Others say they know Russia is behind the violence in eastern Ukraine, but still do nothing. Talk is cheap. The real test is whether the EU will move from rhetoric to real action and impose meaningful sanctions on Russia. [...]
Just three reforms would transform UK recovery into long-term boom April 22, 2014 WHISPER it, but things finally seem to be looking up. Investment is rising, unemployment is falling, and the deficit seems to be coming under control. But it could be a lot better. Real wages will not recover to their pre-crisis peak until 2020. And expected growth of 2.7 per cent this year is well below [...]
