April 2009 Archives
Trade credit row could turn nasty for insurers
The trouble with the sort of help the government announced in the Budget to help ease the pressures in the domestic trade credit market is that it suddenly alters people's expectations. With many businesses, especially in the retail sector, going...
Posted by David Worsfold on April 27, 2009 9:22 AM | Permalink | Comments (3)
I'm not the only one who sees the 1970s looming on the horizon
Despite one commentator's optimism in response to my predictions that we are heading for a decade of economic misery and industrial conflict on a par with the 1970s, there is plenty of expert opinion this morning lining up on my...
Posted by David Worsfold on April 24, 2009 9:29 AM | Permalink | Comments (0)
The Budget points towards a decade of gloom and conflict
I've been trying to pick my way through the detail of yesterday's Budget statement to find some good news and have been getting ever more depressed as I do so. I have come to the conclusion that we are heading...
Posted by David Worsfold on April 23, 2009 9:35 AM | Permalink | Comments (2)
Darling shows he has run out of ideas
The initial reaction to Darling's Budget speech has to be that he has demonstrated that the government has now run out of ideas on the economy. He will score with left of centre voters for his attacks on high earners...
Posted by David Worsfold on April 22, 2009 1:29 PM | Permalink | Comments (0)
The Budget: who will come out on top?
One of the most fascinating aspects of tomorrow's Budget Statement is going to be who will come out on top - Alistair Darling, George Osborne or Vince Cable?The Chancellor is obviously under huge pressure to deliver a package of measures...
Posted by David Worsfold on April 21, 2009 2:26 PM | Permalink | Comments (1)
Why have the Equitable Life policyholders gone for a judicial review now?
The news last week that the Equitable Members Action Group has applied for a judicial review over the government's decision to reject the Parliamentary Ombudsman's call for proper compensation for policyholders caught me by surprise. I can't help querying their timing.The...
Posted by David Worsfold on April 20, 2009 3:28 PM | Permalink | Comments (0)
Treasury Committee picks off its targets one-by-one
The Treasury Select Committee looks to be pursuing an interesting strategy when it comes to reporting on its in-depth inquiry into the causes of the banking crisis. Usually Select Committees publish single reports at the end of such inquiries with...
Posted by David Worsfold on April 20, 2009 12:38 PM | Permalink | Comments (0)
Is breaking up the RBS and Lloyds a good idea?
I am totally unconvinced by the new Conservative policy of breaking up the partially state-owned banks as their ownership is returned to the private sector. Shadow Chancellor George Osborne's speech advocating this earlier this week was full of glib phrases...
Posted by David Worsfold on April 9, 2009 1:22 PM | Permalink | Comments (0)
Insurers win key battle on equality
The debate over how insurance premium rates and policy conditions will be covered by the Equality Bill as it starts its Parliamentary passage in earnest shortly took a useful turn in the insurance industry's favour at the end of the...
Posted by David Worsfold on April 6, 2009 11:34 AM | Permalink | Comments (0)
G20 points to a new era of regulation - but by whom?
There will be hundreds of thousands of words written over the next few days analysing the outcome of yesterday's G20 Summit in London and I will be looking hard for an answer to this question: who is in charge of...
Posted by David Worsfold on April 3, 2009 9:14 AM | Permalink | Comments (1)
ABI pitch for London-based regulator is a canny move as G20 meets
Well, they have arrived at Excel and within a few hours we will find out was has been agreed and what has not been agreed. It will no doubt take a forensic scrutiny of every word in the statements published...
Posted by David Worsfold on April 2, 2009 8:57 AM | Permalink | Comments (0)
Myners isn't the Goodwin fall guy
The Tories seem intent on pursuing Lord Myners, the City minister, out of office over what he did or didn't know about Sir Fred Goodwin's pension arrangements. They are wrong and do themselves no credit.As I have said before, it...
Posted by David Worsfold on April 1, 2009 8:14 AM | Permalink | Comments (0)
All Party Group tackles trade credit insurance
The All Party Parliamentary Group on Insurance & Financial Services will be looking into the issues in the UK trade credit insurance market on Tuesday 19 May (11.30am, Committee Room 17, House of Commons) when the Association of British Insurers...
Posted by David Worsfold on April 29, 2009 5:30 PM | Permalink | Comments (1)
Insurers have little to fear from the Equality Bill
I expect a huge amount of heat - and probably very little light - to be generated around the Equality Bill in the coming weeks. Despite the all too predictable complaints about burdens on business at a difficult time from...
Posted by David Worsfold on April 27, 2009 3:51 PM | Permalink | Comments (3)
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David has been a financial journalist for 30 years and is currently Group Editorial Services Director at Incisive Media.
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