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2012 – Another New Year, and a review of the one just gone lan Le Breton Gibraltar Magazine January 2012 |
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As you read this column, another year has just turned the corner – and probably not one that many people will be sad to leave behind; so perhaps it’s a hearty goodbye to 2011 from most of us, and a warm hello to 2012. ... [More] |
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Santa in Gibraltar for Christmas lan Le Breton Gibraltar Magazine December 2011 |
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Santa Claus shivered as he emerged into the weak winter sunshine at Gibraltar’s southernmost tip. When he booked a Mediterranean Christmas break, he remembered reading about the re-development of Europa Point. Surely Gorham’s Cave had been given a makeover too? After all, wasn’t Gibraltar Woman found there – the one that would have been more famous than Neanderthal Man (for she was older) had it not been for clever marketing by those pesky Prussians or whatever they were. ... [More] |
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Comparing Gibraltar is one thing – but can it compete? lan Le Breton Gibraltar Magazine October 2011 |
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In recent columns, I have written about the reasons one might consider Gibraltar as a good place to invest, work and live. I have covered issues such as the legal framework in the jurisdiction itself, regulation and, perhaps most importantly, the new corporate tax legislation that came into force in January of this year. ... [More] |
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Jargon busting – after a long summer lan Le Breton Gibraltar Magazine September 2011 |
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Oh dear, September is here and that means it's back to work for many Gibraltarians after the lazy, if not necessarily crazy, days of summer. We can look forward to National Day but the main holidays are over for another year. How was the summer for you? Let me tell you about mine. ... [More] |
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Companies – why incorporate? lan Le Breton Gibraltar Magazine July 2011 |
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Recently, while re-reading some articles on the website of The Gibraltar Magazine, I was struck by the number of references to the new Gibraltar corporate tax regime that came into force on 1 January this year. Many other contributors have, like me, been celebrating this new system and explaining why it is good news for Gibraltar. ... [More] |
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Protecting against Events lan Le Breton Gibraltar Magazine June 2011 |
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It's always reassuring to know these articles are read — but there can be a downside, Last month I discussed events and how even the best-laid plans can be derailed by political change, weather or financial shock, A few days after that article appeared, someone stopped me to say that what I had said seemed to make sense, Out then went on to ask inc how on earth she could protect herself financially tom such episodes. We had a good chat that left me with some food for thought. ... [More] |
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Events – and how they derail even the best laid plans lan Le Breton Gibraltar Magazine May 2011 |
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Imagine you play a leading role in public life - let's say the government minister in charge of finance. What an influential person you would be. Such individuals are likely to be overworked at the best of times. But these are not the best of times. In many ways these are the worst economic times I have ever witnessed - and I am almost 50! Of course, people of my parents' generation will have endured far worse, but in the context of world war that is hardly a fair comparison. ... [More] |
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Executive aircraft – toy or tool? lan Le Breton Gibraltar Magazine April 2011 |
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In this month’s article, I thought I’d take a somewhat different tack. In recent columns I have examined why Gibraltar is becoming an increasingly attractive location to business people – tax, infrastructure, ease of doing business, high quality multi-lingual staff etc. I also referred to the fact that we have our own airport and, it is to be hoped, that the current airline route map will be extended when the brand new terminal opens later this year. But that set me thinking about the sheer logistics of getting to Gibraltar from other airports around Europe from where it is unlikely that there will be scheduled services any time soon... [More] |
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VAT: How it Effects Gibraltar lan Le Breton Gibraltar Magazine March 2011 |
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We've all come across VAT, or IVA as it's known across the border in Spain. The tax applies across the European Union so, if Gibraltar is a member, why don't we pay it here? Do we benefit from being outside the VAT zone and should we exploit the fact? ... [More] |
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Looking back at 2010 - and forward to 2011 lan Le Breton Gibraltar Magazine Jan 2011 |
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It's traditional at the turn of the year to look back at the 12 months just gone and do some pondering. Was it a good year? Will the new one be any better? And what about those New Year resolutions - how long will they last this time? ... [More] |
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Mrs. Rock's financial conundrum lan Le Breton Gibraltar Magazine Dec 2010 |
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No matter how hard she tries, poor Mrs. Rock just cannot grasp the economic realities of the modern world. She and her husband (now retired) manage on their modest means but she has no clue about the markets, the recession or indeed much else that appears in the finance section of newspapers and magazines... [More] |
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Europe - recovery at different stages lan Le Breton Gibraltar Magazine Nov 2010 |
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If I asked a group of people - selected at random - to tell me what the most pressing issue of the day is for them, I bet most would cite the economic situation. True, we must all be vigilant when it comes to terrorism, global warming and the inequalities still seen across the world - particularly in Africa that is perhaps of most concern to us here in Gibraltar. For most though, I imagine the "crisis", "recession", "turndown" - call it what you will - is the most worrying problem of our time... [More] |
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Insurance - even Kidnap & Ransom cover can be arranged in Gibraltar lan Le Breton Gibraltar Magazine Oct 2010 |
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The month of December means getting ready for the festive season - unless you're a retailer when the process seems to begin any time after the end of June. And, for most people, it's also a time when personal budgets are at their most stretched with a dramatic leap in one-off costs all in the name of goodwill to all men... [More] |
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European bank stress tests - were they really testing? And how did the British and Spanish banks fare? lan Le Breton Gibraltar Magazine Sept 2010 |
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The problem with economic recessions and downturns is that, for many people, stress levels rise; be it concerns about one's job, business, financial affairs, home and family, or just a more general feeling that all is not well. So it should be no surprise that even the European Union has been testing stress levels - in the banking arena... [More] |
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A view from Malta how is she coping with the crisis? lan Le Breton Gibraltar Magazine Aug 2010 |
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It's always pleasing when someone comments on my articles — at least I know they are being enjoyed by at least one person! But it was a little disconcerting last month when a correspondent told me it was all very nicely written and all that, but did I have to make it all so depressing? Did I have to go on about deficits and strict government action across Europe to cope with the worst economic mess we have seen for decades? And so on and so forth... [More] |
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Pensions lan Le Breton Gibraltar Magazine July 2010 |
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In previous columns I have looked at the most fundamental problem currently facing Europe - the budget deficits that in certain countries, particularly Greece and Spain, are threatening to destabilise the euro zone. All European countries are looking to reduce their deficits - or national overdrafts if you will - by taking whatever steps are required. As always, here in Gibraltar we are able to consider these issues from a different perspective. Gibraltar is responsible for its own financial affairs and, whilst it is certainly not immune to the current financial crisis, has to a large extent been cushioned... [More] |
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GREECE What lies at the heart of her problems — and why the situation should concern us? lan Le Breton Gibraltar Magazine June 2010 |
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Apart from the UK general election news, the media has focused in recent weeks on Greece and its current deficit and longer term financial problems. I discussed deficits and why these are of such concern a couple of months ago. But I return to the topic for this column as there have been significant new developments. My aim is to explain how Greece got into this position in the first place — and what other countries, specifically those in the euro zone but also other European Union states such as the UK, are going to have to do about it... [More] |
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All that glisters may very well not be gold lan Le Breton Gibraltar Magazine May 2010 |
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Following my take on things philatelic last month, for this column I thought I would continue my look at alternative "asset classes" and consider precious metals. We have all read about the gold price in recent months and how it is at record levels. Why might this be and what about other metals? And is it really that easy to invest in the market? ... [More] |
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Collecting stamps for Easter lan Le Breton Gibraltar Magazine Apr 2010 |
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The doorbell rang at the Gibraltar home of the Rock family. Testily, Mr Rock went to answer the unwelcome call. As he approached the front door he could make out a strange figure standing outside. It was only a couple of months ago that Santa Claus had landed himself on the family. He had been spouting all sorts of rubbish about euros (he called them euro for some reason) and other nonsense. Surely he wasn't back this early? Who had ever heard of Santa Claus in April anyway? ... [More] |
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GDP – what is it? and why European budget deficits should concern us.. lan Le Breton Gibraltar Magazine March 2010 |
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In the last issue I looked at the euro in an effort to determine whether it has attained the lofty goals set out at the beginning of European Monetary Union. This month I am going to try to make some sense of the economic jargon bandied about, particularly as it relates to Europe and the recession. I am going to concentrate on one of those strange three letter acronyms so beloved by economists - GDP. What is it and why should we care about it? Read on... [More] |
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The Euro Revealed lan Le Breton Gibraltar Magazine Feb 2010 |
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Eagle-eyed readers of my monthly ramblings will have noticed that I refer frequently to the exchange rate between the pound and the euro, Most of us who work and live in Gibraltar - or nearby in Spain - change pounds at local banks and bureaux de change into euro. For over a year now, the exchange rate has been horribly close to parity (that is one for one), and any higher rate does not seem to last for more than a few days. As I have written before, a high exchange rate, whilst better for anyone wishing to spend money in Spain, can be a double-edged sword. This is not the place to enter into a full discussion about the whys and wherefores of the exchange rate, nor can I predict where the rate will go during the coming year. Instead, I thought I would take a closer look at the euro itself... [More] |
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Looking back at 2009 & forward to 2010 lan Le Breton Gibraltar Magazine Jan 2010 |
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Happy New Year! As the song says "let's hope it's a good one." What about 2009? Was it a good one and what can we expect in the financial world this coming year? Big questions, and I'm not sure I have all the answers, but I thought I'd start by re-reading my article in last January's Gibraltar Maga4ne to see how 2009 turned out compared to my ramblings at that time... [More] |
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Santa's Dilemma lan Le Breton Gibraltar Magazine Dec 2009 |
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It's not easy being Santa Claus. "Face it Santa," he grumbled to himself as he looked in the mirror. "You've passed your first flush; you're not getting any younger." Anyway he was looking forward to a few days R and R in Gorham's Cave in Gibraltar where he could relax, whilst considering his options. And so it came to pass that this most famous of characters became the latest to sample the delights of a Gibraltar summer. Not of course that he could enjoy the atmosphere at the marinas nor sit on one of the beaches. He might be recognised. But the cave suited him just fine... [More] |
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G-20 - what is it? And why is it important to us? lan Le Breton Gibraltar Magazine Nov 2009 |
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In recent weeks the financial press has been full of references to the G-20 group of nations. What does this mysterious acronym stand for and should it interest us here in Gibraltar anyway? As always this depends on your point of view but the G-20 is a very influential body. Its deliberations are becoming increasingly important; this trend is likely to continue in the years ahead. A good place to start would be to understand how the G-20 has developed in just ten years into the powerful group that it is today... [More] |
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High Net Worth residents in Gibraltar: how do you become one and are they good for us? lan Le Breton Gibraltar Magazine Oct 2009 |
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Last month I looked at some of the reasons why property prices in offshore jurisdictions such as Gibraltar are holding steady, while those across the border in Spain are heading south. As I pointed out, one of the principal drivers of this phenomenon has been the increased demand from people who are currently resident in the UK but are considering becoming "ex-pat" in the next couple of years. [More] |
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UK tax refugees stoke offshore property prices lan Le Breton Gibraltar Magazine Sept 2009 |
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In several columns over recent months, I have highlighted the different forces at work driving the Gibraltar and Spanish residential property markets. We all know that prices in Spain - particularly the Costa del Sol - have plummeted as a result of the global financial crisis. It is also clear that prices here in Gibraltar whilst not perhaps rising are at least holding steady in most cases. This month, I take a look at one of the reasons why this might be so - using as the basis for my thoughts a survey that has just been conducted by The Sovereign Group ... [More] |
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Money in the Bank lan Le Breton Gibraltar Magazine Aug 2009 |
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I wanted to follow on from my thoughts last month on the likely chances of a modest recovery in world markets. I thought I would take a look at some of the problems faced by the British banking sector in the last 12 months and consider where the industry might be going from here, I have concentrated on the UK but, of course, the banking crisis has hit many countries around the world, so I include a word about some of them too. ... [More] |
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Which list? And why are they so important to us? lan Le Breton Gibraltar Magazine June 2009 |
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This month thought I would have a look at the recent listing by the OECD of a range of offshore territories. What is the OECD and what do these lists mean? And what on earth is a TIEA? Lastly, I will consider the implications for Gibraltar and why all this is important to our financial services sector... [More] |
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The End of the Beginning? lan Le Breton Gibraltar Magazine May 2009 |
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As I write the news is dominated by international summit meetings, impressive plans by world leaders to get the world out of the financial crisis and so on. This month I thought I would concentrate on how we got into this mess in the first place " and trying to make some sense of it all. ... [More] |
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The art of investment lan Le Breton Gibraltar Magazine April 2009 |
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It is always pleasing when someone stops me in Main Street after they have read one of my columns. Last month, I was told "interest rates are at all time lows, currencies are all over the place, and shares too volatile to consider. It's a lottery isn‘t it Ian? - or even an art trying to decide what to do."... [More] |
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A Matter of interest lan Le Breton Gibraltar Magazine March 2009 |
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In recent months this column has focused on the state of the economy in general; last time I looked at the relationship between the pound and the euro. Underlying all of this is the condition of the credit market - in other words lending and borrowing by the banks. Banks have come in for a lot of criticism recently; the main problem being that even with government bailouts, they are not lending enough... [More] |
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Pound for Pound lan Le Breton Gibraltar Magazine Feb 2009 |
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In last month's column I wrote about the financial crisis and suggested a few ways in which we should all review our finances this New Year. One of the most troubling aspects, especially for those of us who live in Gibraltar or Spain, is the euro exchange rate against the pound... [More] |
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