Tag Archives: robert peston

Clegg: People don’t vote for economic self-harm

Nick Clegg talked this morning with Robert Peston about Brexit and the Richmond Park by-election. Here’s a transcript of the interview:

Posted in News | Also tagged , and | 27 Comments

Your essential weekend reader — my personal pick of the week’s must-reads

Papers - Some rights reserved by NS MewsflashIt’s Sunday morning, so here are a dozen of thought-provoking articles to stimulate your thinking juices, culled from all those I’ve linked to this past fortnight. You can follow me on Delicious here.

Immigration and the knowledge economy – Facebook’s Mark Zuckerberg makes the business case for immigration reform in the US, but the lesson is universal: “In a knowledge economy, the most important resources are the talented people we educate and attract to our country.”

Mum did to Maggie what she’d done

Posted in News | Also tagged , , , , , , , , , , and | Leave a comment

The seven EU members who are less creditworthy than myself

Following Robert Peston’s comparison of what interest rate the Italian government is charged for borrowing money compared to what his own household would be charged (Italy turns out to be more creditworthy than the Pestons, but only just), I thought I would take a look to see how I compare.

Take that, then, Cyprus, Greece, Hungary, Ireland, Portugal, Romania and Spain. You are the seven EU members who are being charged a higher interest rate to borrow money long-term than I would be.

Posted in News | Also tagged | 5 Comments

News International’s William Lewis, BBC’s Robert Peston, and the alleged act of theft which aimed to bring down Vince Cable

Rewind to December 2010, and you will recall the furore which greeted the revelation by the BBC’s Robert Peston that Lib Dem business secretary Vince Cable had been secretly taped by undercover Telegraph hacks “declaring war” on Rupert Murdoch and his bid for BSkyB.

Vince was almost forced to resign, responsibility for handling the bid was handed over to a Murdoch-friendly Tory, and the Telegraph was embarrassed by the implication that they had censored the story in order to avoid assisting media rival News International.

A report in today’s New York Times sheds a new and extraordinary light on that sequence of events, and suggests that:

  • The Telegraph was not sitting on the Cable/BSkyB scoop, but was all set to run it as a follow-up to the paper’s initial story focusing on Vince’s forthright views on the Coalition;
Posted in News | Also tagged , , , , and | 13 Comments

The Independent Banking Commission publishes its interim report

Via the BBC:

UK banks’ retail operations should be “ring-fenced” from their investment banking arms, the Independent Commission on Banking has recommended.

However, in its interim report the commission stopped short of recommending the two should operate as separate entities.

It said more competition was needed in retail banking, including the sell-off of more Lloyds branches.

The commission’s final recommendations will be published in September.

Robert Peston adds,

The big banks will claim that putting their retail banks into subsidiaries would impose significant extra costs on them – because it would force them to raise and retain more capital (which is expensive), and it

Posted in News | Also tagged , , and | 4 Comments

Public sector pensions: cuts amount to 7%

Robert Peston’s analysis of the proposed public sector pension reforms from John Hutton contains this key calculation:

The estimate – made by the analyst John Ralfe – that the switch would save just £2bn a year, out of the estimated total annual cost of state pensions (much of which is hidden) of £30bn.

That £30bn is Ralfe’s estimate of the annual cost. It is double the official estimate, with the disparity due to a disagreement on the appropriate discount rate for valuing future liabilities.

A reduction in the value of retirement benefits of 1/15th would of course be unpleasant. But compared

Posted in News | Also tagged , and | 41 Comments

Robert Peston casts his eye over George Monbiot’s tax plans

Max Teuerman took to this blog last month to criticise George Monbiot’s attack on the government over corporation tax plans. Now the BBC’s Robert Peston has blogged his own long-promised take on the story, saying:

The government seems to be trying to do precisely the opposite of what Mr Monbiot accuses it of doing: it is trying to stem the exodus of companies and their assets abroad.

As Peston explains,

George Monbiot warns that if dividends from overseas branches of multinationals become exempt from tax, that will create an incentive for multinationals to relocate more of their operations to these overseas

Posted in News | Also tagged and | 10 Comments
Advert



Recent Comments

  • User AvatarHywel 10th Dec - 10:22pm
    A couple of pieces saying he left his family in Cuba whilst pursuing his boxing career with the intention (seemingly since fulfilled) that they would...
  • User AvatarDJ 10th Dec - 10:02pm
    If we have grown to live in a have, have not and have yachts society over the past few years then we should question the...
  • User AvatarJayne Mansfield 10th Dec - 9:35pm
    What a strange story. I am not sure where you got the story that Ortiz made the dangerous journey to America etc. May I refer...
  • User AvatarCaron Lindsay 10th Dec - 9:06pm
    My feelings towards boxing veer more towards antipathy than anything else. However, I found this story very interesting. You have to admire his determination to...
  • User AvatarJohn Peters 10th Dec - 8:19pm
    @Richard Underhill Mrs May was in favour or our withdrawing from the ECHR. She abandoned that position when she went for Tory party leadership.
  • User Avatarfrankie 10th Dec - 7:56pm
    Tony, while I don't agree with Eddie I feel is important his voice is heard, not because I feel he will change his view but...