In a week when the New York Stock Exchange proposed merging with the Deutsche Borse to create a huge stock market, the London Stock Exchange (“LSE”) announced a possible deal with the Toronto Stock Exchange. Canadian commentators were unimpressed.
In London the LSE Chief Executive, Xavier Rolet, who lost his previous job when Lehman Brothers collapsed, came under fire for proposing a lacklustre deal.
He continued this approach when, on 8 February 2011, he wrote an article for ‘The Times’ entitled ‘Think small: a new plan for British growth.’
In line with all those hoping to get an honour from Dave, he had worked out that saying exciting things about small businesses might earn brownie points from Downing Street. Note to PR Department: “How did Dame Clara do it?”
So what did Monsieur Rolet propose?
- Jobs must come from SMEs
- SMEs are powered by innovation
- Innovation is not London-centric… “the majority of UK companies on AIM are based outside London.” (A large percentage of AIM companies are foreign owned often in the natural resources sector)
- There are two obstacles…tackling the funding chain…get Blue Chips to invest in start-ups by introducing an investment tax credit scheme.
- The second obstacle is the tax system which favours debt. Equity investments are taxed four times through their life cycle (debt is tax deductible). This needs changing.
Merci Monsieur Rolet et bonne nuit.
Mr. Angry is angry
Mr. Angry is angry because Mrs. Angry is angry.
My wife Judy has poor eyes and no longer drives a car. Every Tuesday and Thursday she, and some friends, catch the local bus into Leighton Buzzard. It has become part of her social fabric.
Dave has stopped the service. The Local Authority has explained that Government cuts mean that rural transport is being reduced.
I know. Big Society to the rescue. Here is the replacement voluntary service. Oh no! The Health and Safety Officer has not agreed. What, no funds available?
Mr. Angry is also furious with the Health Minister, Andrew Lansley, who is trying to introduce a dangerous new system. “The NHS isn’t working”, he claims.
Judy (still my wife) is a member of the local WI (Women’s Institute). In her branch there are 120 members. Average attendances at the meeting are around 80 ladies.
Recently the Local Health Authority (which is being abolished by A. Lansley) conducted the three year breast cancer checks in our district.
FIVE members of this WI branch tested positive. Judy also has two friends who are similarly affected. All have been treated promptly with a combination of surgery, chemo and radio therapy. They are all doing well. They are the lucky ones – early detection is imperative.
No wonder Mr. Angry is angry. The NHS is working. The £80bn budget switching to GP consortia is crazy.