I was an early advocate of quantitative easing, raising the possibility in September 2008 and advocating its commencement from November 2008. But, speaking as a fan of the idea, I have never been under any illusions regarding its difficulties, dangers, and limitations. The purpose of doing quantitative easing was to prevent a crash in the [...]
Money matters more to women than men, with the latter being more interested in sex, according to new research by the over-50s specialist group Saga. These conclusions may come as no surprise to anyone who remembers the Mrs Merton question: “So, Debbie, what first attracted you to the millionaire Paul Daniels?” But the analysis challenges [...]
House prices increased by 2.5pc in London and by a national average of 1.1pc last month, reversing losses seen over the last year, according to Land Registry, but some market observers continue to warn of ‘trouble to come’. Because Stamp Duty paid by purchasers is the basis for the Land Registry House Price Index, many [...]
Some points on the Barclays tax "scandal". 1. Both tax "loopholes" Barclays was intending to exploit are quite widely used by UK banks, so much so that Barclays, advised by both its auditors and lawyers, really didn't think there would be in any problem with them. It assumed they would be approved. 2. The fact [...]
Pensions apartheid – or the gap between public sector and private retirement provision – is worth £20bn, according to the Financial Services Authority (FSA). That is the extent to which final salary or defined benefit pensions – which remain the norm in the public sector – are worth more than money purchase or defined contributions [...]
Here is a fascinating chart from the joint report by the World Bank and Beijing’s Development Research Centre. It shows the fate that China risks if it clings too long to the catch-up growth model that's been in place since Deng Xiaoping. It shows the vast difference in outcome between getting it right and getting [...]
50% funded, up from 47%
Ken Livingstone, who attacked tax avoiders as “rich b*****ds” who should “not be allowed to vote”, is the latest high earner to be ‘outed’ as using a personal company potentially to avoid higher rate tax. Now rising numbers of people who, like Ken, believe they have better uses for their income than to pay 40pc [...]
From the Postal Regulatory Commission: In December, the United States Postal Service requested a non-binding advisory opinion from the Postal Regulatory Commission on its proposal to consolidate its mail processing network and alter the delivery standards for First Class Mail and Periodicals. This request was designated as PRC Docket No. N2012-1. In support of its [...]
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