Monday, November 11, 2013

A couple of bits from The Economist this week


  • "The tax paid on home sales in Kensington and Chelsea in the fiscal year 2012-13 exceeded the tax paid on all homes in Northern Ireland, Scotland and Wales put together". Wow.
  •  In an article on low pay, The Economist notes that Ed Miliband back the idea of a living wage of £7.65 per hour outside London and £8.80 in the capital. KPMG are also apparently in support, noting that this modest increase would improve the lot of the low-wage army by £2,500 a year. Fortunately The Economist understands that when you increase the price of a good, the quantity demanded falls. Why KPMG don't understand this simple truth, I am not sure.

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