‘Morning after’ reflections on the mini-Budget…

It may well take some time for the dust to settle on Kwasi Kwarteng’s first Budget (yes, ‘Budget’: if it looks like a duck, walks like a duck and quacks like a duck, then it’s fair to call it a duck). The initial reaction from most economic commentators and in the financial markets has been … Continue reading ‘Morning after’ reflections on the mini-Budget…

The cap on energy prices is a gamble that is about to pay off

Critics of ‘Trussonomics’ – and there are many – have been quick to claim that the new energy price plan puts its economic credibility at risk. Indeed, early estimates suggested that the ‘Energy Price Guarantee’ could cost the taxpayer £150 billion or more over two years, making it the most expensive economic policy in history. … Continue reading The cap on energy prices is a gamble that is about to pay off

Why the bankers’ bonus cap should be scrapped

The new Chancellor, Kwasi Kwarteng, is said to be considering scrapping the EU’s cap on bonuses in the financial sector. This would be hard to sell to the public, but is still the right thing to do. The ‘bankers bonus cap’ is part of the Capital Requirements Directive IV that was first applied to credit … Continue reading Why the bankers’ bonus cap should be scrapped

Businesses must not be given a blank cheque for energy bills

Many businesses are rightly worried about the soaring cost of energy and the likely delay before they will be able to access the rescue package being put together by the government. Unfortunately, there are good reasons why they will have to be patient. The new ‘Energy Price Guarantee’ will cap the unit price of energy … Continue reading Businesses must not be given a blank cheque for energy bills