The one-size-fits-all approach from the Basel Committee on Banking Supervision has, inevitably, run into various challenges. Not surprisingly from London where Mark Carney, Governor of the Bank of England. On the one hand Mr Carney would like to make it
Energy is the front line. Energy is an intensely political area of business. It always has been. And it could be no other way given a fairly recent history where Government ran generation and supply centrally. Many of our existing
Perhaps not surprisingly having been involved in transport all my working life, I have found it extremely frustrating that, other than in London, transport has remained so low on Labour’s agenda for so long. Who can remember a national transport
The UK needs a well-functioning financial sector which supports sustained and inclusive growth of the real economy.
Martin Wolf, the chief economics commentator at the Financial Times, has recently argued that we should “strip banks of their power to create money”. In his column, he refers to proposals in the book I co-authored, Modernising Money (see below). The book explains how the power to create money can be removed from the banks that caused the financial crisis and returned to a democratic, transparent and accountable body working in the public interest.
It is now recognised in the UK that International Financial Reporting Standards (IFRS) mandated by the EU along with the voluntary adoption by the Financial Reporting Council (FRC) of International Auditing Standards (ISAs) in 2005 contributed significantly to the financial crisis by allowing banks to overstate profits and asset values.
Whilst the Conservative Party have recently championed investment in infrastructure and are trying to position themselves as the party of business, it is useful to consider that they are doing little on some of the issues small business is crying out for help on.
Heathrow is a unique airport. It is the UK’s only hub airport combining local passengers with transfer passengers allowing airlines to fly to more destinations more frequently than could be supported by local demand alone.
An interesting idea has been put forward recently for the creation of a new ‘Growth’ Commissioner at the European Commission. What would be the point?
Parliament places huge scrutiny on how taxpayers’ money is spent. But for the last 170 years, parliament has ignored the question of how money is created in the first place.