George Hay coordinates European financial coverage and writes about macroeconomics, the euro zone and UK/European financial policy. He covered European banks for Breakingviews during the financial crisis, and has also worked as a correspondent for AFX News and at United Business Media. He attended Edinburgh University and his work has been recognised at the UK’s Business Journalist of the Year Awards. Follow George on Twitter @gfhay
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Ruling Conservatives want to help more Britons buy their own dwellings. In global terms, UK home ownership isn’t especially high, but decreasing rentals is a foolish political objective. Making it one – especially with measures that just stoke demand – is irresponsible.
A tax loophole for the footloose rich should be an easy target for a centre-left opposition. But Labour is only now saying it plans to clamp down on “non-domiciled” residents. If the time is finally right, then Chancellor George Osborne missed an easy win.
The outgoing Prudential CEO was paid 8.3 mln stg in shares for hitting long-term targets. Given his record, the largesse can be defended. But the UK insurer - and fund manager – should follow peers in requiring such awards to be held until outperformance is proved sustainable.
- BoE will test banks for deflation ECB didn't see
- Profumo leaves Monte Paschi with mixed record
- ECB torn between two roles in Greek bank support
- UK gets its tax incentives in a muddle
- London doesn't need to stress-test foreign banks
- Deutsche Bank's main stress test still to come
- UK can get by without homegrown investment banks