Sam Bowman is quoted on the new WEF ranking for the soundness of banks in CityAM

Research Director of the Adam Smith Institute, Sam Bowman, was quoted in CityAM discussing Panama’s placement in the new World Economic Forum ratings on the soundness of banks:

The WEF report shows that Panama has the twelfth-soundest banks in the world, way ahead of the UK, which languishes in 89th place. Why is this is relevant to the Scottish independence debate?

Research director of the Adam Smith Institute (ASI), Sam Bowman, explains:

This is good news for Alex Salmond: Panama uses the US dollar without a currency union, and the ‘Panama option’ may be his best bet for an independent Scotland. Today’s results suggest that emulating Panama by ‘Sterlingising’ without a currency union could give an independent Scotland a remarkably robust financial system because Scotland’s banks could not depend on an unlimited central bank lender of last resort.

Alex Salmond has already said Scotland will keep using the pound if there’s a yes vote, adding “there is literally nothing anyone can do” about it. For its part, the ASI has offered a helping hand to show how an independent Scotland might arrange its monetary policy in the face of hostility to a formal currency union.

Read the full article here.

Press Release: New World Economic Forum rankings suggest ‘Panama model’ may be right for Scotland

Commenting on the release of the new World Economic Forum rankings, Research Director of the Adam Smith Institute, Sam Bowman, said:

The World Economics Forum’s global rankings of economic development, released today (Wed, 3rd September), have named Panama as having the twelfth soundest banks in the world. Panama also scores well in a host of other financial stability metrics, which is particularly impressive given that Panama is a middle-income country.

This is good news for Alex Salmond: Panama uses the US dollar without a currency union, and the ‘Panama option’ may be his best bet for an independent Scotland. Today’s results suggest that emulating Panama by ‘Sterlingising’ without a currency union could give an independent Scotland a remarkably robust financial system, because Scotland’s banks could not depend on an unlimited central bank lender of last resort.

Notes to editors:
The Adam Smith Institute takes no position on the Scottish independence referendum and produces research for public information purposes only.

For further comments or to arrange an interview, contact Kate Andrews, Communications Manager, at kate@adamsmith.org / 07584 778207.

The Adam Smith Institute is an independent libertarian think tank based in London. It advocates classically liberal public policies to create a richer, freer world.

Press Release: Sliding towards a police state in response to extremism is just another form of radicalism

Commenting on the Prime Minister’s new anti-terrorism measures, Communications Manager at the Adam Smith Institute, Kate Andrews, said:

The Prime Minister’s decision to creep towards a police state in response to extremist threats is just another form of radicalism. While Islamic State militants gain power by creating a culture of fear, Britain plans to make citizens fearful of their own justice system by further empowering police to confiscate passports and detain travelers without clear evidence of wrongdoing.

The Prime Minister’s nuanced comments and eagerness to work across party lines should not be taken as a dedication to Britain’s long-standing civil liberties – especially when Labour leaders promote enthusiastically the return of control orders and increased surveillance.

The coalition should tread lightly as it looks to expand the powers of the State to combat radicalism; for it is often the good intentions of governments that lead to the radical stifling of individual freedoms and the erosion of the presumption of innocence.

Notes to editors:

For further comments or to arrange an interview, contact Kate Andrews, Communications Manager, at kate@adamsmith.org / 07584 778207.

The Adam Smith Institute is an independent libertarian think tank based in London. It advocates classically liberal public policies to create a richer, freer world.

TEN’s Parliamentary Snapshot is featured in CityAM

TEN’s Parliamentary Snapshot survey is featured in CityAM:

Many MPs are unaware of the host of policies in place to support entrepreneurship and are largely split along party lines on how best to support Britain’s wealth creators, according to new polling conducted for the think tank The Entrepreneurs Network.

The YouGov poll of 105 MPs found an extraordinary lack of knowledge of already established policies geared to support entrepreneurs. More than 40 per cent had never heard of the Patent Box, one of the government’s flagship schemes to make the UK a centre of innovation.

A whopping 66 per cent had never heard of the Angel CoFund, a £100m investment fund established to support small and medium-sized enterprises. The GrowthAccelerator, which was set up to back the UK’s answer to Silicon Valley in the form of London’s Tech City was only known to half of MPs.

Read the full article here.

In the first survey of its kind, Parliamentary Snapshot- conducted for the think tank The Entrepreneur’s Network by YouGov- has uncovered the views of MPs on polices impacting entrepreneurs. 

Read or download the briefing paper here.

The Entrepreneurs Network is a cross-party think tank designed to bring entrepreneurs to the forefront of political discourse and help make Britain the best place in the world to start a business. TEN is based within the Adam Smith Institute and is supported by Octopus Investments, one of the UK’s fastest growing fund management companies specialising in smaller company investing.