Are you happy using ‘pathing the way’ for ‘paving the way’?

Pathing used to mean the same as paving, as in ‘pathing the way’, is new to me. See image below of its use in today’s online City A.M.

I’m going to be cantankerous. I don’t like it, and I can’t see why pathe it’s being used to replace pave. Yes,  I know we have bath and bathe.

Pave is a lovely short verb. Examples of its use are, ‘the street was paved, ‘the builders are paving the drive’, ‘the leader paved the way’, and so on.

We don’t want to get into using, ‘streets pathed with gold’,  or ‘the builders are pathing the drive’.

What will substituting path do to the word  pavement – a path with a hard surface. Does it become a pathment. Ugly, horrible, and unnecessary. And so City A.M. please desist from using pathing as a trendy alternative to paving.

Pathing or paving

City A.M. offer three reasons to be cheerful

I like City A.M. and its motto Business with Personality.

zsmileYesterday’s online edition had this article – Reasons to be cheerful: One, two, three (and four).  The article suggested there’s two sides to every coin. While markets are in turmoil there’s a positive flip-side, which they say is,

So, reasons to be cheerful: 1. Cheaper mortgages; 2. Cheaper petrol; 3. Cheaper shopping. And then there are our record levels of employment. It’s easy to see why a collection of business surveys, published today by BDO (see page 17), has found that “UK consumers are enjoying their best start to the year since the financial crisis”.

Just thought you might need cheering up a touch.

British car and commercial vehicle makers see increased home and export demand

While overall UK manufacturing output declined in the last three months, as reported by CITY A.M, UK car and commercial vehicle manufacturing grew healthily in the last quarter.

The SMMT yesterday announced that for,

  • Land_Rover_Celebrates_Production_of_First_New_Discovery_SportCar manufacturing:
    • British car manufacturing increases 9.3% in November, with 150,084 cars built.
    • Strong overseas demand continues to boost output, with production for export up 10.8% in the month.
    • Year-to-date output 3.8% up on 2014 with 1,472,835 cars produced.
  • Engine manufacturing:
    • UK engine output rises 3.5% in November, with 209,133 units produced.
    • Overseas demand continues to drive growth as production for exports sees 13.3% uplift in the month.
    • Overall year-to-date volumes stable, with output down 0.9%.
  • Commercial vehicle manufacturing:
    • UK commercial vehicle manufacturing grows by a quarter in November as sector recovery continues.
    • Big gains made in export production with volumes up 79.1% in the month.

New 62 storey skyscraper in the City

The City of London is getting new 61-storey skyscraper at 22 Bishopsgate. The site was the site of the failed Pinnacle development.

22-BishopsgateThe planning application is being discussed at the City of London’s planning application meeting on 17th November. It’s recommend for approval.

It shows that the development of the City is relentless. The developers will surely have secured expressions of interest in occupation, otherwise they wouldn’t be creating the building. City A.M is reporting on the new skyscraper, with the developer Axa Real Estate saying,

Axa has called the new building a “vertical city”, with space for more than 12,000 workers. Floorplates will be 20,000 sq ft or more at most level, which will give the building 1.3 million sq ft of office space, with another 43,700 sq ft given over to restaurants, bars, retail and a viewing gallery.

It will also include 1,500 bike parking spaces and 100 showers, along with facilities for bike hire, repairs, safety training, spinning classes, and laundry and drying facilities.

Hattip: City A.M for the photo

Immigration surprise, the vast majority of migration is domestic

The Office for National Statistics this week released detailed UK Migration statistics from the 2011 Census.  Stating, “Internal migration statistics give estimates of people and households who moved to another area within the UK in the year preceding the 2011 Census”.

Migrant statisticsThe benefit of releasing this data is that people and organisations can make use of it. This is what City A.M. have done, by presenting the migration statistics graphically, making it easily understandable. The City A.M. article says,

“According to new analysis of 2011 census data by the Office for National Statistics, the vast majority of migration is domestic; residents move between areas far more often than they come from abroad. This may not be all that surprising to everyone, but it’s notable that your job may be more likely to come under pressure from a UK resident moving into an area than a person coming from abroad.”

Here’s one of the maps from the article [click on image to expand], which shows net migration in the UK; negative values [anything not in blue on the map] show that more people moved into a local authority than out of it, meaning a net inflow.

­­Most of London’s mansion tax properties are flats or terrace houses

City A.M reports that ­­’Most of London’s mansion tax properties are flats’. Their article says,

‘Three quarters of London properties which would fall into the so-called “mansion tax” bracket are flats or terraced houses, according to Knight Frank figures.’

Crikey, that’s 75% which you wouldn’t define as a mansion. Although in London large blocks of flats are often referred to as mansions, such as Cavendish Mansions. Confusing eh.

Town centres must offer more than just retail

I might’ve said this here before, that towns and cities need wider economic development policies that simply regenerating their retail town centres.

Camberley Car ShowWhat we need are policies that bring people into our towns, who aren’t all shoppers, but people who work or live there. There’s a trend for empty offices in Camberley to be converted in apartments. I fully understand that we need more homes; this though is at the cost of reducing the employment vibrancy of our town. Successful events that bring footfall to the town, such as the Camberley Car Show, are great. They are not the whole answer.

A while back I reviewed the report on the Future of Cities, not wholly appropriate to small towns. Really usefully a new report – Future of the High Street – by the Future Spaces Foundation suggests policymakers should focus on a broader footfall for towns than just retail. This is just the approach  we need.

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Allister Heath’s economic arguments are well-expressed

I like well expressed economic arguments. Particularly ones that are succinct and easily understood by the general public.

I’ve no hesitation in directing you to editor of City A.M. Allister Heath’s article Why governor’s monetary revolution will eventually backfire.  It’s a critical assessment of the bank of England’s new monetary policy.

One part of Allister Heath’s critique is the use of unemployment rate as the new target for setting interest rates, being “a decent, easy to measure proxy for spare capacity”. It’s his description of the spare capacity in the economy where I fully agree,  when he says,

“I don’t think there is much spare capacity that would be put to use even if demand were to be buoyant, especially in our open economy. Much capital – human and physical – isn’t lying idle but has been destroyed. There is a mismatch between people and jobs. The lost output and potential growth is gone forever.”

Where I disagree is not so much in terms of economics, but in in the power human nature, when optimism and confidence take hold.

While I agree that the spare capacity in the economy is gone. I disagree that the majority of supply-side growth will come from imports. Sure, our addiction to imported goods will continue.  There’s reasonable evidence that there’s some rebuilding of capacity occurring in the UK. John Lewis repatriating textile manufacture back to the UK, being one such example.

The aim of the ‘forward direction’ on interest rates is aimed at boosting confidence in all aspects of the economy. Optimism and confidence are the vital underpinnings to rebuild the lost capacity in the economy. The shape of our economy has changed forever, we’re in a post industrial phase of development. It’s the services sector, including media and high tech parts that will provide the balancing export wealth to pay for the imports.

I agree that the new policies of the Bank of England contain risks. But the twin focus on employment rate, and interest rate should be given a chance to work.