Politicians ‘hold key to economies’

THE games that politicians will play to keep economies afloat is one of the great uncertainties as far as assessing investment prospects for the year ahead, according to the chief investment officer of asset management business Quilter & Co.

Quilter chief investment officer Duncan Gwyther
Quilter chief investment officer Duncan Gwyther

THE games that politicians will play to keep economies afloat is one of the great uncertainties as far as assessing investment prospects for the year ahead, according to the chief investment officer of asset management business Quilter & Co.

Duncan Gwyther addressed an audience of financial professionals at the Royal Yacht Hotel recently to give the firm’s outlook for economic prospects.

‘Last year we were all very concerned about the euro and that was the pressure point that triggered market uncertainty. I thought then that the euro would stick together and that the politicians would muddle through,’ he said.

However, although he said that has proved to be the case, he said that future political policy is likely to play a critical role in how markets will react in the months ahead.'

Full story in Thursday's JEP

Comments for: "Politicians ‘hold key to economies’"

Pip Clement

The only thing we can be certain of is further uncertainty.

Mario

The thing that can be guarented is that things are only to get a lot worse. The EU is in dire straights and that is only a part of the overall picture.

I expect to see rising unemployment as more firms close due adverse economic conditions, and finance also sheds more jobs.

How the politicians will be able to combat this will be very interesting to witness. I have little faith in them being up to this task.

I hope I am wrong but I doubt it. We are indeed living in interesting times. Prepare for the worst and batten down the hatches.

James Wiley

I very much doubt he was referring to our excuse for politicians, but now that you mention it, they can help by reducing government expenditure and taxation, scaling down the number of civil service employees and 'rolling back the frontiers of the States'. I seem to recall that worked pretty well after the 70's.

Unfortunately our politicians depend on the votes they have purchased from the very civil servants they would have to sack to save Jersey. I'm afraid self-interest will always win out with our States Members (as it would with all politicians except Ron Paul).

Southern Europe will be fended off by Germany and they will become an economic backwater led by France, Germany will expand into Eastern Europe and the UK well they are already up the creek without a paddle.

Just waiting for them to lose their AAA credit status and have interest rates rise collapsing both the overinflated housing market and the treasury bubble which is at a 300 year high... VOTE LABOUR, bring it on.

Oh and let's not forget all the German gold which Britain owes Germany but has leased out. How is the UK going to crash the Gold market again to pay for this next lot? They already squandered most of the gold doing it in 2000.

The Labour Party has squandered all Britain's wealth on fighting meaningless wars, on ridiculous welfare payments to buy votes from all the immigrants it enticed with the promise of free money because no sane British person would vote for them.

The politicians do not care, their personal accounts in Singapore are I am sure well topped up, just like the PM who sold out Greece for the sum of 5 billion Euros (the money was transferred to his mother's account of course) or Tony Blair with his multi-million pound lecture tour and consultancy payments from the world's bankrupt banks.

They do not need people any more, computers do the work now, you are just an unnecessary expense. If you starve well, that's a pity, never mind.

Prepare for the worst through the dead wood overboard, every single civil servant there is.

Gino Risoli

Uncertainty is how the markets earn or not.

We are where we are because governments have played into the same game, it patently does not work for society. We need to regulate the markets before we can take any road out of this mess. Now will governments step up or is a total collapse of economies necessary.

James Wiley

Oh my God, NO

We need to de-regulate and get rid of government

Or they will inevitably step up their wanton destruction of the economy complete their long term plan for total collapse.

Warren J

On reflection, Jersey chose the wrong time to change is tax system from corporate to personal. Yes I know the reasons for this but as well as a world wide downturn, a massive amount of spending power has been taken out of the local economy.

It has got to the point that I avoid at all costs spending locally on anything other than essentials, I repair the house and cars myself, and avoid paying tradesmen if I can help it.

The damage under 20 means 20 has been well and truly done, and even if I were given more to spend through the reintroduction of some tax allowances, I would not now change my stingy habbits.

Overpopulated

When does the Jersey government chose the right time to do anything? They chose to set up the generous welfare system, based on the failed UK example just prior to the recession.

Sanity

Overpopulated – You get exactly the service you vote for. The electorate complain that they have little choice at election time. Well whose fault is that? Few people of any business acumen will put themselves forward for the rewards on offer, the endless abuse and phone calls 24/7 from the losers who think they could do better but never have.

We have the likes of Ms Rennard and the deputy of St Mary getting the “popular” vote by stating that they should get paid less as if it were a plausible excuse that they contribute nothing. At each election we see the “doers” replaced by the “well somebody should do something” brigade.

The choice is simple – simple politicians who are relatively cheap but have to pay unelected experts exorbitant salaries to do the work make the policies – or – pay a competitive salary (not in the Jersey mans nature) and get a competent elected representative with the business acumen to get the economy rolling and the prospect of advancement and prosperity for all.

Overpopulated

As far as I can recall we did not get to vote over the welfare system or the high levels of immigration this island has suffered.

All that was allowed by the 'politicians know best' brigade.

I do apologise, however, for voting for ex-Sen Cohen the first time he stood, but we did not realise what that would entail at the time ...