t: 020 7219 8155 e: fieldm@parliament.uk

Category: Economy

  • July 26, 2012

    Mark writes for the Telegraph’s Britain Unleashed Series

    For all the talk of an existential crisis of capitalism, free enterprise and the market remain the only games in town. As the financial crash of 2008 plays itself out (and it has barely begun to do so), the real calamity to which the minds of the political class will soon be forced to turn is the unaffordability of our ever-growing welfare state. For all the talk of unprecedented austerity and savage public sector cuts the government is still borrowing £1 in every £5 we collectively spend. This current generation of Britons continues to consume recklessly beyond its means. Those of our children and grandchildren who decide not to leave these shores will in due course foot the bill for our ...
  • July 26, 2012

    Mark reacts to latest GDP figures

    The ONS figures released yesterday revealing that our economy shrank 0.7% in the last quarter are hugely disappointing. But Chancellor George Osborne is absolutely right in his steadfast determination to reduce the deficit. For all the talk of unprecedented austerity and savage public sector cuts, the government is still borrowing £1 in every £5 we collectively spend. We are in the midst of a crisis not of capitalism but of welfarism. The expansion of the European welfare model has for years served to make our continent less economically competitive. It is the sheer size and cost of the state that is smothering this nation’s wealth creators...
  • July 19, 2012

    The Role and Changing Powers of CEOs in the Spotlight

    When historians look back upon the first decade or so of the twenty-first century, I suspect they will analyse just how and why every one of Britain’s institutions (bar the Monarchy) came to be discredited. They will also ponder the demise of leaders in the worlds of politics, finance and business. The end of the Noughties witnessed a breathtaking financial collapse which swept away trust in banking. Simultaneously, a scandal broke over the misuse of MPs’ expenses that deepened an historical distrust of politicians....
  • July 9, 2012

    MF Global’s bankruptcy highlights perilous faults in UK finance rules

    An abridged version of an article Mark has written on MF Global appeared in today's City AM - http://www.cityam.com/forum/mf-global-s-bankruptcy-highlights-perilous-faults-uk-finance-rules The full piece is below:‘Lessons have been learned’ – the contemporary platitude of choice for repentant organisations and governments alike in their communications strategy. All too frequently was it employed when bankers and politicians accounted for the gross regulatory and commercial failings that precipitated the collapse of Lehman Brothers. Lehman was meant to be the event that changed everything. The lesson of all lessons. So it was with disbelief that I heard a blow-by-blow account of the travails ...
  • July 2, 2012

    The Latest Scandal to Beset British Banks

    Mark has appeared on BBC News Channel, Sky TV, Radio 4 and Radio 5 over the past few days as the LIBOR banking has unfolded. This sets out his views on this fast moving story: I suspect that today’s resignation of Barclays’ Chairman, Marcus Agius, will be the first of several high profile departures in the weeks ahead. For those who wistfully hoped that Barclays alone was implicated in this LIBOR scandal, the news that RBS had fired four traders following irregularities and that the Bank of England may also...
  • July 1, 2012

    Will London survive as the world’s financial capital?

    As the world’s most powerful leaders gathered in Mexico last month for the latest G20 ‘last chance saloon’, each turned to their domestic media to declare that ‘something must be done’ to stem the descent of the global economy into chaos. Surely no one disagreed. But what and by whom? When politicians concur only on the gravity of a situation, the seemingly endless rounds of summitry achieve precisely the opposite to their goal – the unnerving impression of impotence. Precious wonder that investors now seek security. With the Eurozone’s problems deepening, many find...
  • June 29, 2012

    Accounting & Business Magazine – Field of Competitive Dreams

  • June 22, 2012

    A Modern Moral Maze

    It is difficult not to have some sympathy with David Cameron over what I suppose will soon be known as “Carr-gate”. In today’s 24/7 media world there is a constant demand on political figures to provide a running commentary on populist media campaigns.
  • June 19, 2012

    It is not only the Eurozone kicking the can down the road

    As the Greek economic tragedy reaches yet another climax, it remains fashionable from these shores to decry the Eurozone for its schizophrenic lurching between hapless inaction and spurts of frenetic, if misguided, activism. However, with this critique in mind, it might also be wise to examine carefully what is happening closer to home. For so long as global financial markets remain flooded with cheap money, courtesy of government underwritten bailouts, then political consideration will continue to outweigh sound economics. Conservatives are right to dismiss the Opposition claim that the UK economy...
  • May 18, 2012

    The Illusion of Prosperity

    Sarkozy is history, the Greeks are in paralysis, the Coalition has for the first time experienced mid-term electoral blues (just wait until May 2013 and 2014). This month has already been one of savage reprimand at the polls in Europe. Yet rather than a definitive judgement on the benefits or otherwise of austerity, I suspect electorates continent-wide are issuing a plague on all our houses...