Tim Worstall

Moving to the higher target would cost about €81bn (£68.4bn) a year by 2020, or 0.54% of GDP, according to the European commission’s research, compared with a cost of €48bn for the 20% goal. But the move would quickly yield benefits including more green jobs, better health outcomes from less air pollution, and would make [...]

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Take VAT, which describes itself as a “UK Uncut-esque” action group, was formed last month to raise awareness of companies that avoid paying VAT. These range from companies such as HMV and Tesco, which use a VAT loophole to sell CDs and DVDs VAT-free from the Channel Islands, to airlines. No VAT is charged on [...]

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He brought a case to the High Court in 2001 challenging the ban on prisoners voting under the Representation of the People Act 1983, but his claim was dismissed by Lord Justice Kennedy. Hirst pursued the case to the European Court of Human Rights which ruled in 2005 that the ban breached the right to [...]

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For example, the silver-grey metal tantalum is used in mobiles as a powder which helps regulate voltage, which would otherwise drop as temperatures rose. Its abilities have been vital to reducing the size of mobiles. However, China produces around 97% of the world’s supplies, much of it coming from small mines operated by criminal gangs. [...]

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Hmm: Kevin Williams, the managing director of Western Union Mines, which owns South Crofty, said: “It is a very significant discovery because there is no other UK producer of indium. In fact, very few countries in the world do produce it in any big way.” Western Union Mines originally hoped to find commercial quantities of [...]

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Despite David Cameron again outlining his personal abhorrence at allowing prisoners to take part in elections, it became clear that Downing Street and the Ministry of Justice accept that the measure will, in some form, have to be adopted because Britain is bound by European human rights laws. The Daily Telegraph first disclosed in November [...]

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Something we really might want to do something about as well.

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Saturday’s soccer match between Manchester United and Manchester City of the English Premier League, a game known as the “Manchester Derby,” is likely to be played in the sort of bleak and drizzly weather conditions one might expect. But this won’t be just another regularly-scheduled whistle stop on the British soccer calendar. It will be [...]

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Yesterday’s trade figures show that the trade deficit for goods and services hit £4.8 bn in December and the deficit for goods alone was £9.2 bn; both were the worst figures ever. The annual trade deficit for 2010 was £46.2 bn, up from £29.7 bn in 2009. In fairness, it should be noted that there was a [...]

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Very cute from Guido’s comments section: 1994 Economic Advisor to Gordon Brown 1995 Economic Advisor to Gordon Brown 1996 Economic Advisor to Gordon Brown 1997 Economic Advisor to Gordon Brown 1998 Economic Advisor to Gordon Brown 1999 Chief Economic Advisor to Gordon Brown’s Treasury 2000 Chief Economic Advisor to Gordon Brown’s Treasury 2001 Chief Economic [...]

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Here’s the CEO of Centrica talking about shale gas. But there are strong reasons for seeing the shale gas phenomenon as largely confined to the US, at least for some time. Centrica is going to get its arse handed to it if that is their attitude to shale gas. New long-term supply contracts would underpin [...]

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“Then there is the small print: the lending “will be subject to its normal commercial objectives … as well as the availability of the required funding”, while that £190bn will only be lent “should sufficient demand materialise”. Nor is there any way of enforcing this target.” How could it be any different? No, seriously, think [...]

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The government has a responsibility to impose restraint on the banks which it partly owns, and as a result of our pressure it will cut their bonus pools this year, and reduce the share of profits paid out in remuneration. If it’s remuneration it’s not a profit, it’s an operating cost. Profits are the residual, [...]

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The headily intoxicating brew of sex, commerce and politics which worked for the House of Medici isn’t altogether suited to a nation best known for cream teas and drizzle. If you need further proof, contrast if you will, the Italian premier’s fondness for pneumatic nubile dancers, with John Major’s fondess for Edwina Currie. Yes, it [...]

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The Foreign Secretary and another Conservative minister “lobbied strongly” on behalf of Tullow Oil who were embroiled in a dispute over a £175 million unpaid tax bill in Uganda. The Ugandan government said that Heritage Oil owed £250million in capital gains tax. Heritage paid £75million, but around £175million remains under dispute. Heritage is registered in [...]

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Anyone wanting an appointment will first have to contact NHS Direct by dialling 111, which will be used as the new non-emergency medical number. There are also concerns that it could erode the role of dedicated GP receptionists – many of whom build up a close rapport with their doctors’ patients – with people having [...]

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But as DR says, under the new corporate dispensation, all bets are off — who’s going to work for AOL for no pay out of pure sentiment? Yup. Now it’s corporate, the business model is slightly broken, isn’t it?

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But equally, I do think that first of all dealing with the facts and not the man is important and second that if you’re going to deal with the man you might at least try to get some facts right. A worthy winner there. Last week I was described by Geoff Cook of Jersey Finance [...]

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In fact, on getting entirely the wrong end of the stick altogether: The message is unambiguous: those who are undertaking these trades are abusing the market. They have no intention of taking supply of sugar, or onward supplying it. They are simply price arbitraging for speculative gain. And that is both undermining the real market [...]

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First, the Turks & Caicos are far from alone in being bust – so are Jersey, Guernsey and the Isle of Man – all of whom are running big deficits. Cayman, the Bahamas and Bermuda are also in the club. And as the report makes clear, they can be reckless because we carry the can. [...]

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