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Industrial Strategy Publications
Reform of the Bank of England argues that the Bank of England’s focus on monetary policy meant that it was not prepared for the impact of the freezing up of the financial markets and the collapse of some of the UK’s biggest banks. The report argues that without major reform to the Bank, the new financial regulatory regime currently going through Parliament risks being as flawed as its predecessor.
The UK has enormous potential to be a world-leader in the high-tech and digital economy, but it is tough for start-ups to find enough coders, designers and other highly skilled staff. Bits and Billions looks to the United States, especially California which is home to nearly half of the top 100 digital start-ups in the world, for lessons for UK policymakers.
All company directors should be forced to repay bonuses if they underperform. Executive Compensation advocates introducing “clawbacks” to all bonus contracts as the best way to end rewards for failure in the boardroom. Clawback would also be an effective way of ensuring shareholders are able to reduce the outgoing pay of a poor performing director who had decided to resign.
The Big Data Opportunity shows that better use of data, technology and analytics could help the government save money by improving efficiency rather than reducing service levels. Applying cutting-edge data and analytics in the UK public sector could generate potential savings of up to £16–£33 billion a year.
Sovereign default has become a reality in Greece with profound implications for the rest of the Euro Area and the international financial system. This paper looks at what lessons can be learnt by examining the last major sovereign default in Argentina 2002.
Financing Innovation argues that the government should concentrate efforts on removing barriers for innovative small businesses by allowing them to bypass all the current complexity on charges, reliefs, rates and exemptions and instead deal with a simple flat tax.
A Right to Data says that all non-personal data held by the public sector should be made available to the public for free. Opening up public data so that it can be linked, analysed and made useful could provide a huge economic and social boost, with some estimates suggesting that the upside for the economy could run into the billions of pounds.
This report makes recommendations for a policy framework that can identify and monitor of early warning indicators that signal increased vulnerability in the financial system, and that can rapidly employ policy tools to address these vulnerabilities.