Politicians are wrong if they think 9 million renters will accept this meekly at the election next year.
Pessimists wonder how sustainable this is. They fret that the recovery has a glass jaw and that an increase in interest rates by the Bank of England could expose some over-stretched households and deliver a lethal blow to wider confidence.
I interviewed Robert Chote, the boss of the Treasury watchdog/forecaster the Office for Budget Responsibility.
For fiscal geeks there were some interesting observations.
Next time you hear someone moaning about too many people paying higher rate income tax and bemoaning the iniquity of fiscal drag remember that income tax isn’t everything.
Serious entry into the low carbon business, renewable energy today is cheap. In fact in many cases it is cheaper than conventional energy.
The practical difference between an “LTIP” award and an annual bonus has eroded considerably. To get the full benefit from an annual bonus a banker would have to wait 3.5 years. For an LTIP the waiting period is 5 years.
Is remuneration really tracking performance at Standard Chartered? Let’s see what shareholders say, but there is room for scepticism.
While households were big beneficiaries, lending to small firms actually fell by £1.3bn last year.
According to the International Monetary Fund’s latest forecasts, the great overtake has, apparently, been put on hold.
Bonuses for investment bankers were 17% lower. But the revenues at the division fell by 24%. And that helped compensation for staff in the division as a proportion of revenue rise from 31% to 35%.
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