"Finance for growth"
We believe the financial industry needs to change but in a way that allows it to continue to make a vital contribution to the UK economy. We seek to promote a constructive and vigorous debate to promote the policies that can allow this to happen.
Help to Save
11 million people are at risk of entering ‘pensioner poverty’ when they retire. With the average pension pot standing at £36,800, a person will need to save six and a half times more to reach the £240,000 required for a decent retirement income. Help to Save calls for government to make it obligatory for people to save for their retirement by removing the opt-out in the existing auto-enrolment scheme, while also increasing individual contributions to pensions as their incomes rise over time. Read more
Privatising the Banks
Creating a new generation of shareholders
Privatising the Banks examines four scenarios for the state to sell off RBS and Lloyds, arguing that the best approach will be a mass share distribution coupled with sales to retail and institutional investors. Under the mass share distribution, applying taxpayers will receive shares worth £1,100-£1,650 on a no upfront cost, no risk basis.
Gold plate or lead weight?
Bank lending to private companies in the UK has fallen in every single year since the financial crisis, dropping a staggering £57 billion since 2008. Capital Requirements: Gold plate or lead weight? says that the primary reason for this lack of credit is due to the financial regulator’s desire to raise the capital requirements of UK banks.
Reform of the Bank of England
A new Bank for a new Governor
The Bank'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. Without major reform to the Bank, the new financial regulatory regime risks being as flawed as its predecessor.