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Regulating for Growth – politicalbetting.com
Regulating for Growth – politicalbetting.com
Starmer asks UK regulators for ideas to boost growth https://t.co/HbwJhE8GJN
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What the private sector and especially the City is not doing is supporting British entrepreneurs and enterprises so that they can grow at home.
Ermine thong, gold framed glasses, own throne at Arsenal ?
Their previous chief was ignorant of education, basic safeguarding, good management practice, record keeping and apparently common sense as well as being a nauseating hypocrite and thick as pigshit. And many sad disasters she wrought as a result with her botched exam reforms and disastrous curriculum inspection framework. But that's not something ordinary inspectors should be blamed for.
*One of them had been sacked for misconduct and not told OFSTED, whose safeguarding procedures were so poor they hadn't picked it up. But that's a different problem.
**One of the others rather less so, it has to be said. But then Woodhead himself was a failed teacher and much of his bile was due to his anger at others making the grade while he hadn't.
If they win this test, they're through to the WTC final at Lord's.
98 needed with seven wickets left. But not a lot of batting to come. If one of Bavuma or Markram gets out, the pressure will be on.
On-topic:
Politically, this looks bad. Not only that the brand new Government has no ideas of its own, but its actions have led to what growth there was being throttled to nothing. If things turn around, people likely won't care, but the Government's doing a good job of making life hard for itself.
Off-topic: a final look back at the 2024 F1 season, reviewing 10 of the top moments with the third Undercutters podcast episode:
Podbean: https://undercutters.podbean.com/e/f1-2024-top-10-memorable-moments/
Spotify: https://open.spotify.com/episode/3ruCsIaS26m0J5jKYTdODD
Amazon: https://music.amazon.com/podcasts/bcfe213b-55fb-408a-a823-dc6693ee9f78/episodes/d3d00346-89dc-4381-a510-4003d357d100/undercutters---f1-podcast-f1-2024-top-10-memorable-moments
Transcript: https://morrisf1.blogspot.com/2024/12/undercutters-ep3-f1-2024-top-10.html
Big systemic financial risk right now with unregulated capital providing low quality credit. There's a lot of cash in tech companies, hedge funds etc looking for a home. Also Apple and Google Pay if they move substantially into loans, who are not regulated in the same way as banks but seem too big to fail. Also crypto, which is not regulated at all. The shit will hit the fan on this stuff in the US. It has nothing to do with UK regulation but we will get the consequences.
I wonder what he'd have said if Musk City had been started on Mars.
Even The Guardian runs articles supporting it.
https://cps.org.uk/media/post/2024/stamp-duty-on-shares-is-a-tax-on-growth-new-cps-modelling-shows/
Actually, mathematically, it must. But I don't know if this is a real or significant effect in the wild.
Also why would anyone invest in the UK when they could just as easily invest in the market they intend to sell to?
But given how they did in the referendum, I'll believe that when I see it.
[Bigger market, easier trade, more trade, more profit. Benefit to economy outweighs costs (although minus rebate that equation becomes less happy)].
On the flipside, the EU has been keen to regulate AI and related work away, whereas the UK has benefited in this area. A shift to EU regulation on such matters would just be a cost.
On topic, more or less, I'm casting a beady eye at the development of crypto-currencies. I fear that they are going to develop further and disrupt the established order of trade, and of course, once Pandora's box is opened, it can't be closed.
https://www.itv.com/news/2024-12-29/state-schools-to-receive-17bn-boost-from-scrapping-private-school-vat-break
The environment is not being served by the current arrangements.
It was very obviously headline bait, briefed to the media, and with an absurdly short two week deadline for a response.
As Cyclefree's header makes clear, the dialogue has been going on for much longer than that.
So either it's entirely performative, or the regulators have been dragging their feet in the hope the bad idea just got forgotten.
Regulators, for me, always seem to relighting the last war rather than looking at new threats.
Look at Andrew Bailey and how he fell upwards.
Edit - Refighting not relighting.
Currently it's driven by demand (and not just for money laundering and drug running), momentum and very limited supply (requiring massively increasing amounts of energy to mine more bitcoins).
It could be hit by regulation or the threat of it.
Or quantum computing which could flood the market with bitcoins, or the threat of it.
Or any other bubble bursting story that runs wild.
State schools will be overloaded, and lots of communities will lose their small independent schools. Not a penny extra of money will see it's way into having any effect for state school kids.
You're an idiot for believing Reeves' propaganda, but a good example of why she does it, I guess.
Fair enough - you prefer an easy life I suppose.
Our ours recover from the South Sea Bubble.
And those economies were nowhere as 'sophisticated' as ours.
They have strict social media policies.
It would make a good slogan.
As long as that's the case, there's still the hope of educating you about the excellence of Hannibal and the finer points of history.
Got back to the car about 8.45, set off for home and the cloud suddenly cleared. Beautiful.
I am not after winning a few easy battles but rather winning the war, see The Second Punic War as the perfect example of my professional philosophy.
By the time of Greek fire, Greek was the main language of the empire. Even by Justinian's time that was mostly the case.
London's Alternative Investment Market, fir example, has been tossed around as one which needs a rethink.
For example, in construction, we have vast numbers of elaborate rules. Which are being ignored on an epic scale. See cases of buildings being completed, then having to be demolished. All signed off and with metric tons of paper to say that it’s all tickety boo…
As usual, the lack of enforcement makes adherence to the rules a voluntary choice. And then the bad drives out the good - my guesstimate is that you can halve construction costs for a building by ignoring the rules and er… dealing with the inspections.
I saw a recent video entitled something like Europeans Views of the Byzantine Empire.... as if the Byzantines didn't count as Europeans.
The following diagram is a bit out of date but shows the relative sizes of asset classes.
Edit: I hope I've got my sums right to an order of magnitude! Correct me if I'm far out.
What it does do, as @Cyclefree and other have pointed out, is increase the cost to consumers of the service involved by creating a well paid, very comfortable cadre who supposedly act in the public interest. What that public interest is, beyond what is said in the originating statute, is very much left to the organisation and I am astonished to report that their view is that the public interest requires more regulators, more regulation, higher salaries, more paperwork to check and more resources to fund that regulation.
I am not against Reeve's letters but I really do not hold out much hope that any regulator is going to say we need to do less with fewer staff and leave a lot of things currently regulated alone. I would be delighted to be proven wrong. The people she should ask are those who carry the burden of regulation, those who pay for their staff to produce the documentation and then someone else to mark their homework.
And, perhaps worse, how far will they exercise the more excitable journalists?
Figure out a better national framework for clinical trials, which are hard for drug companies to set up, and even harder for willing patients to access.
The UK is already a pretty good place to conduct research; making it better would benefit manufacturers, patients, and the economy.
The MHRA is pretty effective (which is why we were the centre for EU drug regulation before Brexit).
They would be one example where planning involving government, industry, and the NHS could move the dial quite significantly.
Occupied by a financial bureaucrat.
New acting president hit with barrage of crises
https://m.koreatimes.co.kr/pages/article.asp?newsIdx=389339
...Choi, who is also the deputy prime minister and finance minister, faces daunting tasks ahead as the nation confronts the unprecedented situation of both its president and prime minister — the top two figures in the government hierarchy — being simultaneously suspended from their duties. The National Assembly passed an impeachment motion against President Yoon Suk Yeol on Dec. 14 for his botched martial law declaration, and a separate motion was passed against Han Duck-soo for delaying the appointment of three Constitutional Court justice nominees to review Yoon's impeachment trial.
The new interim leader faces the tough task of taking control of both the economic and political situations in the country.
Since Yoon's short-lived martial law on Dec. 3, Choi, as the finance minister, has tried to reassure foreign countries, finance-related institutions, and investors about the stability of the Korean economy. However, as the acting president who must oversee all state affairs, he is unable to concentrate solely on economic matters, balancing the demands of both governance and economic stability during this tumultuous period.
Amid this turmoil, finance officials are urgently working to address the declining value of the Korean won against the U.S. dollar, which hit its lowest point on Friday since the 2009 global financial crisis. Analysts suggest that there is little hope for reversing the negative sentiment unless the political situation stabilizes.
Security concerns also burden Choi, as the nation's defense minister and several other military commanders have been arrested or suspended over their alleged involvement in the martial law plan. On Friday, amid growing security worries fueled by political instability, Choi instructed top defense officials to bolster the military's defense posture, warning that Pyongyang may attempt to exploit the situation in South Korea.
The political situation is even more challenging for him...
But if Remoaners want to use today to have a 2019 Redux all over again then fucking bring it on.
Got work to do today but this is an epic end to an excellent test match.
I'm sure this is having a distorting effect on economies in several ways, but it won't be like the classic bubble and then burst, because the value is destroyed by the bitcoin market continuously.
Haha, well you might not like it (and other anti-EU zealots) but for good or ill, joining one of the largest trading blocks in the world would certainly help growth. You can wank yourself off to blindness over phoney concepts of "sovereignty" (that we never lost or regained) but the reality is that the country is economically poorer as a result of the self-harm vote of 2016.
Easy battles? Some might call that a silly description for the greatest military ambush in history, or the greatest battlefield victory in history.
But it's this charming ignorance that makes me glad you're here, Mr. Eagles, for the hope of your education and enlightenment springs eternal.
Speaking of spring, I have some vacuuming to do. Have a good day, everyone.
She said: "The bottom line is that it is a tax on aspiration.
"Taxing education is wrong, it is against our principles, so yes that is the sort of thing that I can very easily say we would not do that.”'
Regulators role is just to ensure large businesses especially do not push so hard for growth they get into more debt than they can afford and which risks that viability if income streams and repayment of that debt starts to dry up
The EU historically has grown less than non-EU developed nations.
The sweet spot is to be a developed nation that embraces free trade outside of the EU.
We could of course do what I always advocated and join the trading bloc by joining the EEA (which is the real trading bloc rather than the political entity). The pro-EU zealots would hate it because it removes much of their argument for rejoiing the EU. The Reform types would hate it because it would mean freedom of movement and they would see it as a sneaky backdoor back into the EU.
But it would maintain our sovereignty -a concept you have always managed to completely fail to understand even in its most basic definition - and allow us the trading benefits of the Single Market without the trading negatives of EU membership.
Ultimately, all of this endless regurgitated regulation was always being paid for by customers.
These people would be the last ones I would ask for opinions on growth.
Anyway, I could have sworn that just a few months ago, Starmer and Reeves hosted a growth summit, specifically excluding Musk. Looks like that went well. They haven't a clue. Desperate times.
"The renovation of the Salt Stair, once the five-storey spine of the Salt Office, means it takes its place as an attraction alongside two other historic stairwells at Somerset House.
It joins the neighbouring Stamp Stair, once central to the Stamp Office, which became the Inland Revenue, and the more famous, grandly sweeping Nelson Stair, in the building formerly occupied by the Navy Office."
If man of the match is anyone other than Kagiso Rabada, he should report them to the police for fraud and theft.
Standard weights and measures by consensus increase economic efficiency and thus growth. These are regulations administered by a regulator. ergo you are wrong.
https://assets.publishing.service.gov.uk/media/5a7c32ece5274a25a91411ea/prof-swann-report-econ-measurement-revisited-oct-09.pdf
The unique advantage we still have is the NHS; a national clinical trials framework might leverage that.
It's not a zero sum game, but we need to leverage our advantages to stay in it.