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Category: News & Articles

  • March 19, 2012

    Time for a Radical Budget

    "Maybe something will turn up." One of the classic stratagems of last resort in politics - and indeed for life in general. I suspect Chancellor George Osborne’s tactical handling of the UK economy owes rather more than he might willingly admit to the Mr Micawber principle. After all, waiting for something to turn up is not always the ill-advised course of action. The accretion of time often does alleviate, and sometimes even solves, what seems an intractably difficult situation. The fragile state of our domestic economy at the time of the 2010 General Election and the indeterminate election result meant that a mandate to take radical action on the economy was neither sought nor won by any political party.
  • March 19, 2012

    The Thames Tunnel

    Mr. Mark Field (Cities of London and Westminster) (Con): I am one of 144 Members of Parliament in the Thames Water area directly affected by the issue of the Thames tunnel, and I hope that both the Minister and Gavin Shuker will forgive me if I restrict my comments to the area that is close to my heart.
  • March 8, 2012

    Greek and Eurozone salvation is no nearer, whatever the bailout merchants say

    There is not much that unites Eurozone politicians and the financial markets. But it is undeniably the case that neither trusts the Greek government or its people to stick to their latest bailout deal. This matters because the real impact of the ongoing Eurozone saga is that the opportunity to erect a firewall around the Greek economy is fast fading. Contagion, which by rights should be a pure matter of economics, has now become a product of political interference. When – and it really is no longer ‘if’ – Greece eventually defaults on its debts...
  • March 5, 2012

    Taxing times for true Tories

    Conservatives instinctively believe in lower taxes. We believe that individuals are better able to judge where their money should be spent than the State. We support choice and economic freedom. It came as something of a disappointment, therefore, last week to read virtually daily pre-Budget stories concerning proposals to raise taxes. Indeed this has been made worse still by recent careful coalition choreography from Downing Street allowing the Liberal Democrats to showcase themselves as promoters of tax cuts for the less well-off. As it happens, I am not convinced that a programme of personal tax cuts at the forthcoming Budget would produce...
  • February 25, 2012

    The New Thinking is Coming from the East

    As we have all learned from the graveyard of failed forecasts, economics is an unerringly inaccurate as well as a dismal science, inextricably bound to the whims of irrational human behaviour. All too frequently it follows that economies develop haphazardly and tend to reflect a nation’s collective ability (or otherwise) to innovate and provide conditions in which the experience and aspiration of its people can flourish. One of capitalism’s enormous strengths is its accommodation of human nature by the creation of broadly stable environments that liberate and incentivise people to pursue new ideas whilst casting aside defunct thinking....
  • February 24, 2012

    The real crisis today is of welfarism not capitalism

    Forget the breathless pronouncements from Davos. Forget the domestic political posturing of Party Leaders desperately trying to convince voters there is much of substance to choose between their economic outlooks. Forget even the furore over the pay, bonus and rank handed out to RBS chief executives past and present. 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 systemic, existential crisis will not be of capitalism. Out of sheer financial...
  • February 7, 2012

    Cyber Security

    The growth of the internet is the defining technological change of this generation. Not only has it transformed the way we communicate, socialise, transact, consume, but it has linked the world in ways seemingly unimaginable even a decade ago. The inevitable impact on the political sphere was clear for all to see last year. The Arab Spring, the rapid coordination of global protest movements, the London riots, the continued dramatic, debilitating drip of Wikileaks – these events were not necessarily foreseen, but they were in part facilitated, and certainly enormously
  • January 30, 2012

    Stephen Hester’s Bonus – An Alternative View

    Following the announcement on the amount awarded to RBS's Chief Executive, Stephen Hester, as a bonus, Mark has been commenting on the matter on a range of media outlets including Radio Five Live, Sky News, Radio 4 and Jeremy Vine's Radio 2 show. He wrote today the following article for prominent political website, ConservativeHome.As MP for the City, I have never slavishly defended the level of rewards in financial services which are often disproportionate and, in the current climate of austerity, seen to many as ludicrously out of balance (click here). Nevertheless....
  • January 24, 2012

    Executive Pay

    Like most Conservative MPs, only a few years ago I cannot imagine that I would have been open minded to the notion of government interference in the remuneration of privately owned companies. However, Vince Cable announced to parliament yesterday afternoon that the coalition government will rapidly move towards legislating to give shareholders control over the ‘excesses of capitalism’ and clamp down on the ‘rewards for failure’. Perhaps more than any other, my own constituency, the Cities of London and Westminster, benefited from the...
  • January 23, 2012

    Should RBS Fred Stay a Sir?

    The following article by Mark appeared in today's Telegraph: Does it really matter if Sir Fred becomes plain Mr Goodwin again? Watching senior political leaders this week falling over themselves in casting to the winds the fate of the disgraced former Royal Bank of Scotland Chief Executive you could be excused for thinking that no issue in public life was more critical. Don’t be fooled by the grandstanding. Messrs Cameron, Clegg and Miliband know in their hearts that the dispute over the award of a knighthood to an erstwhile Master of the Financial Services Universe...