Merryn Talks Money

Arthur Laffer, renowned US economist and the creator of the Laffer Curve, discusses tax policy and economic growth, particularly for the UK. He argues that high taxes stifle growth and advocates for radical changes, including lower taxes and reduced bureaucracy. Laffer suggests a flat tax rate around 12-13% to replace the current complex system. He also highlights the need for enterprise zones to boost job creation and critiques the role of complexity in sustaining vested interests. His insights reflect a deep optimism about potential economic revival through pro-growth policies.

Helen Chandler-Wilde, a Bloomberg reporter on housing policy, explains the key components of the Renters' Rights Bill, including banning no-fault evictions and fixed-term tenancies. Stuart Trow, a landlord and author, discusses the potential unintended consequences, like a reduction in rental supply. They delve into how current regulations may push landlords out of the market and the implications for rental affordability. Both stress the need for effective arbitration systems and explore the challenges of regional housing disparities and outdated properties.

Join Marcus Ashworth, a Bloomberg Opinion columnist with a keen focus on European and bond markets, as he delves into the recent gold price pullback, attributing it to momentum rather than fear. He shares insights on falling bond yields amid looming rate cuts from the Fed and the Bank of England. Ashworth also discusses Japan's new Prime Minister, Sanae Takaichi, and the potential impacts on markets and investor sentiment, while addressing the volatility of the yen and the importance of currency hedging.

Neil Shearing, the group chief economist at Capital Economics and author of The Fractured Age, discusses the shift from hyper-globalization to a world divided into US- and China-centric blocs. He highlights key sectors like semiconductors and biotech that are becoming strategic in this rivalry, predicting increased volatility in inflation due to supply chain reorientation. Shearing also explores potential geopolitical flashpoints and urges investors to be cautious about exposure to China while recognizing opportunities in gold and critical minerals.

Hosts dive into recent headlines that underscore their previous warnings about fiscal instability and energy costs. They discuss the intriguing rise of gold amidst growing systemic fears. The duo also highlights the challenges in London's development market, where high costs make projects unviable. Attention turns to the UK’s energy sector as CEOs warn about impending electricity bill hikes. Ultimately, they ponder whether energy costs should be funded through general taxation to provide clearer accountability.

Discover the FCA's pivotal decision to lift the ban on crypto exchange-traded notes. Explore what ETNs are and how they differ from ETFs. Delve into the risks associated with crypto ETNs, including counterparty and asset custody concerns. Join the debate on crypto's role in investment portfolios and whether it should be treated like gold. Find out which cryptocurrencies will be featured in these products and learn about the suitability tests for investors. This insightful conversation examines regulation, market evolution, and potential impacts on retail investors.

Joe Bauernfreund, CEO of Asset Value Investors, shares insights on activist investing and unlocking hidden value. He discusses Japan's corporate governance shift, highlighting how companies are now more shareholder-focused. Joe also delves into Mitsubishi Logistics and News Corp, exploring potential catalysts for value realization. He emphasizes opportunities in South Korea, where regulatory reforms are paving the way for better governance. Engaging trust boards and revitalizing the UK investment sector are other key topics, showcasing AVI's unique approach to overlooked assets.

Discover the rising allure of gold and silver amid uncertainty in fiat currencies. The hosts explore the 'debasement trade' and investor psychology driving demand. They delve into fiscal risks for the UK, discussing the potential for a fiscal event and the Bank of England’s options. Hear about rethinking the traditional 60/40 portfolio by incorporating gold, alongside insights on stamp duty's impact on the housing market. Plus, a look at AstraZeneca’s US listing as a strategy to dodge tax obstacles.

In this engaging conversation, pensions expert Tom McPhail shares insights from his wealth of experience, including his decision to take tax-free pension cash now, revealing both personal motivations and broader political contexts. He discusses potential risks of future cuts to pension tax breaks and how reinvesting outside pensions, such as through ISAs, could be a better financial strategy. The duo also explores recent inheritance tax changes, the government's focus on taxing wealth, and the pressing need for coherent tax reform.

Dominic Frisby, an investor and author of The Secret History of Gold, dives into the golden buzz surrounding today's market. He explores the allure and timeless qualities of gold, its scarcity, and the impact of central bank buying since 2014. The discussion touches on de-dollarization and the potential role of gold as a neutral reserve asset. They also analyze the future of silver, market trends, and how gold and Bitcoin compare. Frisby emphasizes practical strategies for new investors, advocating for physical gold as a hedge in uncertain times.