Category Archives: Economy

Miles’ comment on Ed Miliband’s party conference speech

I was very disappointed with the speech from Mr Miliband earlier this week as it showed a complete lack of understanding of how business works. The very notion of separating out good companies for what he calls bad companies, in terms of their investment returns and speed of returns, is just nonsense and just sends out a message that he is not supportive of a very active business community.

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Money, Money, Money

You may have noticed that there are very few optimists about at the moment. Vince Cable, in his recent speech to the Lib Dem conference, said that he could see no sunny uplands in the economic distance, only threatening clouds – hardly inspiring words from the minister responsible for business confidence. But you can understand why he’s looking so unhappy; with businesses postponing investment and consumers holding onto their cash, the risk of a double-dip is increasing every day.

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Region’s firms showing reluctance to invest

MANY Yorkshire firms are postponing investments that could create full-time jobs as the Bank of England moves closer to a second round of quantitative easing against a backdrop of uncertainty in the financial markets. Read More »

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Banking and Lehman Brothers

Last week I attended a briefing on the new regulation for the financial services which included a review of the Lehman Brothers story. The review of the Lehman Brothers story was extraordinary. What I found particularly mind blowing, is that there are still 250 people employed full time by PricewaterhouseCoopers (PWC) sorting out Lehmann Brothers obligations from their collapse back in September 2008. Imagine the cost. Another interesting point that came out of the review was that due to the complexity of the financial world being so great, those involved in it, almost feel that no-one will ever be able … Read More »

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Day of reckoning for the euro-zone?

When an eminent economist suggested in 2007 that there was a ‘vanishingly small probability’ of any countries leaving the Euro in the next ten years, he obviously wasn’t expecting first Greece, then Ireland, and this morning Portugal, to request multi-billion pound bail-outs to prop-up their ailing economies. With the foundations of the single currency looking increasingly shaky, it seems unlikely the Euro will survive long in its current form.

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Budget 2011 – IoD reaction

From our perspective this was a decent Budget for business. We’d set out our ‘wish list’ – see the blog post I wrote yesterday called ‘What budget should Osborne deliver on Wednesday’ – and George Osborne did a lot to meet our expectations on Corporation Tax. We very much welcome his proposal to accelerate the reduction in Corporation Tax to 26 per cent. There is more work to be done on, but this measure begins to kill the growing perception that the UK is a high tax country.

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