The left and right of happiness

The persistence of David Cameron’s happiness agenda has undermined the left, providing an illusion of progress while infuriating neoliberals, says Craig Berry.

New financial regulations will harm households and small businesses

The financial sector breathed a sigh of relief this week as the Basel Committee’s recommendations for new rules on banking regulations were announced; stock markets around the world rallied. Rules on the amount of capital banks must hold to cover risk – and the extent to which reserves must be liquid – are less stringent than expected.