Economy & Tax Gordon Kerr Economy & Tax Gordon Kerr

The law of opposites: Illusory profits in the financial sector

Accurate accounting is at the root of the legal and scrutiny framework; without accurate accounts basic laws are incapable of enforcement. This report argues that international accounting rules have given the impression of illusory profits on bank balance sheets, inflating bonuses and creating perverse incentives for banks to act recklessly.

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Banking Tim Ambler Banking Tim Ambler

Bank regulation: Can we trust the Vickers Report?

In this response to the Vickers report, financial experts Tim Ambler and Miles Saltiel argue that the report's findings fail to address the root causes of the financial crisis and would create another layer of bureaucracy. Instead, the government should allow the creation of new "Trust Banks" that would be safely run, reduce arguments for protection of riskier banks, and introduce new competition to the high street.

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Europe, Economy & Tax admin Europe, Economy & Tax admin

Hanging London out to dry: The impact of an EU Financial Transaction Tax

In a follow up his last report on the Tobin Tax, Adam Baldwin assesses the impact of the European Commission's Financial Transaction Tax on Britain. He draws on the EC's impact assessment and independent research and concludes that it would wipe out derivatives trading in the City, hurt economic growth and increase market volatility.

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