Liam Halligan writes the Sunday Telegraph’s Economic Agenda column.
With September marking a decade since the Lehman Brothers implosion, stand by for a slew of economic retrospectives. Any meaningful analysis, though, needs to get beyond historic balance sheets and plunging share price graphs — however dramatic the data. For the most significant impact of the biggest financial and economic upheaval since the Great Depression
With September marking a decade since the Lehman Brothers implosion, stand by for a slew of economic retrospectives. Any meaningful analysis, though, needs to get beyond historic balance sheets and plunging share price graphs — however dramatic the data. For the most significant impact of the biggest financial and economic upheaval since the Great Depression
“We’re not doing a very good job of selling the private sector, are we?” So said an old friend of mine, among the Conservative party’s most senior advisors, as we discussed my upcoming Channel 4 Dispatches documentary on Carillion. Back in January, Jeremy Corbyn declared the implosion of the UK’s second-largest construction firm “a watershed
‘It was Plato who said storytellers rule the world,’ observes Mariana Mazzucato, her powerful voice tempered with a beaming smile, ‘But the stories we’re constantly told about how value is created are largely myths. We must rethink where wealth really comes from.’ An economics professor at University College London, Mazzucato is fast emerging as one
Since the crash ten years ago, stock markets the world over have been steadily recovering. The Dow Jones, a bellwether index, has enjoyed double-digit growth in five of the past ten years and soared by 25 per cent last year — credit for which, inevitably, has been claimed by Donald Trump. ‘The reason our stock
Building a physical bridge between the UK and France is, apparently, ridiculous. I know that because, ever since Boris Johnson raised the prospect at the Anglo-French summit, my Twitter feed has been full of comments from various bien pensants ridiculing the idea. ‘If you like the Boris bridge idea, wait ‘til you hear about Liam’s
There is much outrage, among both Leave and Remain voters, at the size of the ‘divorce bill’ ministers have reportedly agreed to pay the EU. Figures of €60-65bn (£53-58bn) – more than one and a half times’ the UK’s annual defence budget – are being presented as fact. I share much of this outrage. The sheer
So Theresa May and Jean-Claude Juncker enjoyed a ‘broad and constructive exchange’ during their working dinner in Brussels. Last time the Prime Minister broke bread with the President of the European Commission — at Downing Street six months ago — Juncker dubbed her ‘deluded’ and complained about the food. Despite better mood music, this latest
Tomorrow in Florence, Theresa May needs to make the speech of her life. Britain has a strong hand to play in these EU talks and it’s time the Prime Minister showed it. May must assert once again that ‘no deal is better than a bad deal’, shoring up the UK’s bargaining position. She should also
Theresa May is warning Tory rebels that if Parliament gets a meaningful vote on Brexit, the European Union will be ‘incentivised’ to offer the UK a ‘bad deal’. She is right. But that doesn’t mean the Prime Minister should dismiss the prospect of the House of Lords inflicting a second defeat on the government, with peers
‘Did you really deserve the Nobel prize?’ I ask Amartya Sen. ‘Why do you think you won?’ When you’re sitting opposite the world’s most respected living economist, at a time when the dismal science is under intense scrutiny, an opening question should be punchy. Thankfully, Sen, an 83-year-old Harvard professor, has a sense of humour.
Irish eyes aren’t smiling – when it comes to Brexit. As one who hails from the Emerald Isle, I’ve taken plenty of ‘schtick’ from Irish diplomats, relatives and pundits after publicly voting to leave. For the Republic of Ireland, European Union membership carries deep political significance. Joining in 1973, along with the UK but on
‘Prefabs to solve housing crisis,’ screamed the front page of the Sunday Telegraph last weekend. Can the shortage of homes in Britain really be so bad that ministers are floating plans to encourage the first new generation of temporary, pre-packed houses since the great reconstruction drive which followed the second world war? The UK is
‘Prefabs to solve housing crisis,’ screamed the front page of the Sunday Telegraph last weekend. Can the shortage of homes in Britain really be so bad that ministers are floating plans to encourage the first new generation of temporary, pre-packed houses since the great reconstruction drive which followed the second world war? The UK is
‘There was never a consensus among economists that Britain should stay in the European Union,’ insists Professor Patrick Minford. ‘That was always rubbish.’ During the heat of the referendum campaign, Chancellor George Osborne asserted it was ‘economically illiterate’ to back Leave. ‘It’s Osborne himself who is economically illiterate,’ Minford shot back. Three months on from
What should we think about negative interest rates? What kind of Alice in Wonderland world are we living in when companies and households are paid to borrow and charged if they save? Seemingly crazy, negative interest rates are spreading nonetheless. Implemented by central banks in Europe, Japan and elsewhere, they now apply in countries accounting
What should we think about negative interest rates? What kind of Alice in Wonderland world are we living in when companies and households are paid to borrow and charged if they save? Seemingly crazy, negative interest rates are spreading nonetheless. Implemented by central banks in Europe, Japan and elsewhere, they now apply in countries accounting
It has been a month since the UK voted to leave the European Union — but something is missing. Where is the economic collapse? What of EUpocalypse Now? Where is the Brexageddon that we were promised? To the shock of many — not least business titans who bankrolled the Remain campaign — the instant collapse
Boris Johnson famously said that Winston Churchill would have voted for Brexit. The wartime leader’s grandson — staunch Remainer and Tory grandee Nicholas Soames — dismissed such claims as ‘appalling’ and ‘totally wrong’. This bad-tempered referendum rift between two traditionalist, Old Etonian Conservatives symbolises, somewhat incongruously perhaps, the broader state of the nation. Deep and
‘For ten years or so, my name was “that jerk”,’ says Professor Richard Thaler, president of the American Economics Association and principal architect of the behavioural economics movement. ‘But that was a promotion. Before, I was “Who’s he?”’ Thaler has had to get used to putting noses out of joint. His academic research, initially controversial, sparked
