Recent Media

New tax bill is a facelift, not a fix

Finance Minister Nirmala Sitharaman’s recent tabling of the Income Tax Bill, 2025, marks a significant shift in India’s tax landscape. The government claims the bill simplifies compliance, reduces ambiguity, and modernizes the tax system. However, while the effort to de-clutter tax laws is commendable, the bill fails to address key concerns that directly impact consumers, particularly regarding tax predictability, dispute resolution, and incentives for economic growth.

The government promoted the new bill as a victory for simplification, fewer words, forty per cent reduced redundancy of provisions and a streamlined structure overall. The replacement of “assessment year” with “tax year” aligns the Indian system with global norms, promising much-needed clarity for taxpayers and businesses. But below this new coat of paint lies the same rust. The bill does not truly significantly overhaul the tax structure. Plenty of provisions from the 1961 act remain intact under new labels, forcing taxpayers to navigate through a maze of cross-references. Words don’t cut complexity, especially if the system remains convoluted.

Tax Litigation remains the biggest headache for Indian taxpayers, with unresolved disputes piling up to 13.4 trillion rupees as of March 2024. Yet, the new bill makes no major attempts to introduce a fast-track dispute resolution model to address the pressing issue. For instance the UK’s Alternative Dispute Resolution (ADR) System provides taxpayers and authorities room to negotiate, removing expensive legal proceedings and clearing backlogs. A similar model can be implemented in India to reduce judicial backlog and boost the confidence of taxpayers.

Foreign investors remain wary of India’s tax system due to its unpredictability. The bill does little to change that; it fails to introduce effective mechanisms to address complicated cases, such as the Rs 1.4 billion tax demand against Volkswagen, which exemplifies the perils of prolonged tax disputes. If India wants to stay relevant and maintain its competitive edge, it must offer a framework that is not just simplified on paper but also predictable, stable, and fair enough to attract investors. For a nation aspiring to be a global tech hub, the new Income Tax Bill fails to support start-ups and innovation driven sectors.

The USA, for example, promotes investment through R&D tax credits, encouraging growth in emerging industries. Singapore goes a step further with generous tax exemptions to start-ups allowing them to reinvest in job creation and expansion. Yet, India’s new bill keeps a rigid framework, providing no meaningful incentives or financial push for budding start-ups. If innovation is the goal, the tax system needs to fuel it, not stifle it. The bill also misses a crucial opportunity to promote green energy. Tax incentives could have encouraged investment in renewables, making India a leader in clean technology. Instead, it remains silent on how taxation can drive sustainable consumer choices, another lost chance to align policy with progress.

The Income Tax Bill 2025 is definitely a step towards tax simplification, but it should not come at the cost of overlooking key economic drivers, innovation incentives, investor confidence, and dispute resolution. The system remains a roadblock rather than a catalyst for growth. If the government wants to empower businesses and consumers, it must ensure tax laws are enablers of economic growth rather than an administrative burden. India has the opportunity to create a transparent, efficient, and globally competitive tax system. However, in its current form, the new tax bill risks being more of a cosmetic update rather than the structural reform India truly needs. If policymakers aim to make India an attractive destination for investment and economic prosperity, they must go beyond word count reductions and focus on real, substantive change.

Originally published here

Tariffs on Imports From Canada and Mexico Are Still a Terrible Idea

During a cabinet meeting on Wednesday, President Donald Trump acknowledged that Americans don’t like high prices.

“We have to get the prices down,” Trump told reporters. “The prices of eggs and various other things. Eggs are a disaster.”

Part of his administration’s solution to the high price of eggs? More imports. As part of a $1 billion plan to combat the bird flu, the U.S. Department of Agriculture (USDA) announced this week that it would seek to expand imports of eggs, The Wall Street Journal reports.

The U.S. is a major global supplier of eggs, so reversing those supply chains is not easy (and eggs are perishable goods, which makes it more difficult), but the maneuver is evidence that at least some members of the Trump administration grasp that prices are the result of supply and demand. A sudden constraint on supply—in this case, the bird flu—has pushed prices higher, and finding alternative suppliers might help ease the pain.

Read the full text here

Houston charts path forward on interprovincial trade

Leaders across Canada have talked a good game about eliminating interprovincial trade barriers. Nova Scotia Premier Tim Houston is putting his money where his mouth is.

There can be no doubt about it: Interprovincial trade barriers are holding Canada’s economy back. The rules and regulations preventing the free flow of goods, services and workers across provincial borders is costing our economy more than $200 billion a year.

With U.S. President Donald Trump promising to bring in sweeping tariffs as soon as next week that would devastate the Canadian economy, it’s never been clearer that we need to trade more at home and boost economic activity within our borders.

Enter Houston.

At a campaign stop in support of Ontario Premier Doug Ford’s re-election bid, Houston announced plans to table a bill called the Free Trade and Mobility Within Canada Act in the Nova Scotia Legislature.

The legislation would take a reciprocal approach to trade barriers: According to Houston, Nova Scotia will eliminate any barriers standing in the way of trade with another province so long as that other province responds in kind.

In other words, so long as any other province is willing to drop its trade barriers and allow Nova Scotia’s goods, services, and workers to flow freely across its borders, Nova Scotia will do the same.

Canada’s internal trade barriers now represent the equivalent of a 21% tariff. Eliminating those barriers is critical.

Houston’s new legislation could be a game changer for the Canadian economy. Once Nova Scotia passes this bill into law, the onus will be on other provinces to reciprocate: if they want more access to the Nova Scotia market, all they have to do is remove trade barriers of their own.

In the past, provinces have been reluctant to remove trade barriers for a number of reasons. One is that even if a province removes a trade barrier, there’s no guarantee that other provinces that benefit from the elimination of that barrier will respond in kind.

Houston’s legislation would require Nova Scotia to reciprocate action taken by any other province, offering a guarantee that a gesture of goodwill won’t go unmatched.

The proposed legislation could lead to a domino effect. Ontario, for example, might see the benefits of reciprocal trade with Nova Scotia and could choose to introduce similar legislation to facilitate more reciprocal trade with other provinces.

By having politicians commit to matching each other’s moves toward freer trade, they don’t have to take a leap of faith when they stand up to special interest groups and tear down trade barriers.

Houston’s move comes at a critical time. Trump is threatening to introduce punishing across-the-board tariffs as soon as next week. Canada needs to be doing everything possible to strengthen the domestic economy to head off the impact of those tariffs.

Exports represent more than one-third of Canada’s GDP and 77% of Canada’s exports go to the United States. It’s hard to overstate just how devastating U.S. tariffs would be on Canada’s economy.

That’s why strengthening internal trade, in concert with growing Canada’s exports to markets other than the United States, will be crucial in the months ahead.

But unlike trading with other countries, where complex bilateral agreements must be negotiated, internal trade barriers in Canada could be eliminated tomorrow. All that’s been missing is the will to make it happen.

Houston is showing that eliminating internal trade barriers can be done swiftly. With a single piece of legislation, Houston is laying the groundwork for eliminating Nova Scotia’s trade barriers with other provinces, so long as they do the same.

Provincial governments across the country should follow Houston’s lead, introduce reciprocal domestic trade legislation, and unleash the true potential of Canada’s domestic economy.

Interprovincial trade barriers are holding Canada back at a time when we can least afford it. Canada’s premiers should embrace Houston’s plan to fix it.

Originally published here

Canada’s telecom feud heats up

Canadians want more competition when it comes to internet access and pricing. But Ottawa might be trying to stand in the way.

Here’s the deal: in most areas of the country, consumers have just two major internet providers to choose from.

The CRTC, Canada’s telecommunications regulator, has long argued that it is in the best interest of consumers to allow for cross-regional competition. That would encourage more of Canada’s major regional internet providers to participate in markets in other areas of the country.

It’s something the Competition Bureau has also advocated for.

To that end, the CRTC recently upheld a decision to require big internet companies to share their fibre networks with others, with competitor access sold at prices the telecommunications regulator determines.

Network sharing would facilitate competition and ultimately help drive down prices for consumers.

That initial decision by the CRTC was made a few years ago. But Bell, through some corporate maneuvering, filed a cabinet petition and managed to get the federal government in November 2024 to order the CRTC to reconsider this pro-competition directive.

Bell claimed its rationale for doing so was to protect smaller companies and improve telecom access for Canadians. But the reality is that, had the CRTC ruled in Bell’s favour, the duopolies that exist in most Canadian markets would have been cemented in place.

From a consumer perspective, it’s great that the CRTC didn’t cave to Bell’s lobbying, because doing so would have been a wrongheaded interpretation of competition policy.

The CRTC’s move to uphold its initial decision is technically temporary: a final decision still has to be made, so the debate is not over. In fact, Telus just filed a motion in court, alleging that Ottawa is intentionally withholding lobbying documents.

According to the motion, Ottawa is purposely withholding lobbying documents and activities from public scrutiny, which demonstrates a lack of transparency on how its directive to get the CRTC to reconsider its initial pro-competition decision was made.

The motion cites a few grounds for review, with two focusing on procedural fairness, or lack thereof. First, Telus argues that there were dozens of closed-door meetings between Innovation Minister François-Philippe Champagne’s office and Telus’ competitors, which potentially violates the Telecommunications Act’s provisions for a fair review and response. It also argues that the Minister failed to properly consult with provincial counterparts, which is required under Section 13 of the Telecommunications Act.

Essentially, Telus wants Champagne to produce materials in his possession, and Ottawa is objecting. If you care about government transparency, this is quite concerning. Failing to produce the documents insulates the decision from proper judicial review, and raises suspicion about procedural unfairness and, ultimately, Ottawa’s motives.

This legal spat is problematic because this government doesn’t have a good track record of being transparent with its decision-making process. The list is long, but includes being accused of political interference in the SNC-Lavalin Affair, sole-sourced contracts in the We Charity Scandal, delaying the release of key financial reports in 2024 like the Annual Financial report, the decision making over the use of the Emergencies Act, improper accounting and transparency with pandemic aid, and the general erosion of Canada’s access to information system.

To say that Ottawa, under this government, has a transparency problem, is an understatement.

Beyond transparency, the push from Ottawa for the CRTC to reconsider couldn’t come at a worse time. U.S. President Donald Trump’s tariff threats could soon upend the economy. With a renewed focus on tearing down interprovincial trade barriers, why would Ottawa at the same time push to build virtual walls around Canada’s telecom space and cement in place duopolies and the lack of consumer choice that comes with it?

It’s also not what consumers want, with polling showing that the vast majority of Canadians support the CRTC’s decision to enable cross-regional competition, and that nearly two-thirds of Canadians would question Ottawa’s commitment to affordability if they restricted internet choice.

Right now, we have a strange directive from Ottawa, going against the spirit of competition, masked in a veil of secrecy, and that should worry just about everyone.

Originally published here

Lee introduces the Saving Privacy Act for 119th Congress

Senator Mike Lee (R-UT) introduced the Saving Privacy Act, a bill to end government abuse of Americans’ financial information. For years, federal agencies have been overreaching in their surveillance, collecting vast amounts of personal financial data from law-abiding citizens without just cause. Senator Rick Scott (R-FL) is an original co-sponsor of the bill.

The federal government has no business surveilling the financial activities of millions of innocent Americans,” said Senator Lee. “The current system erodes the privacy rights of citizens, while doing little to effectively catch true financial criminals. My Saving Privacy Act ensures that Americans’ personal information is protected and that government agencies operate within the bounds of the Constitution.” 

Big government has no place in law-abiding Americans’ personal finances. It is a massive overreach of the government and a gross violation of their privacy,” said Senator Rick Scott. “That is why I am teaming up with Senator Lee so that we can protect Americans’ personal financials for good. Our Saving Privacy Act will allow federal agencies to go after criminals while also protecting innocent Americans’ data. This is commonsense legislation, and I am urging my colleagues to support its immediate passage.”

“For decades, outdated banking regulations have subjected citizens to excessive financial surveillance, compelling institutions to enforce intrusive measures that directly led to the debanking of innocent Americans spending their own money. The Saving Privacy Act offers comprehensive reforms, striking a balance that restores consumer rights, establishes sensible standards for innovators while curbing illicit activities, and reinvigorates the commitment to sound consumer financial privacy. –Yaël Ossowski, Deputy Director at the Consumer Choice Center.

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Europe’s agriculture regulations a cautionary tale for Canada

Don’t be like Europe.

That was the message to farmers during a keynote speech at this year’s CropConnect Conference in Winnipeg in mid-February.

“The European approach in general is that, ‘We have gotten things absolutely right,’” said speaker Bill Wirtz. “Essentially, ‘You have no idea what you’re doing. It’s only us.’”

“When have millions of Europeans ever been wrong?” he added, to audience laughter.

Why it matters: European farmers have chafed under the bloc’s strict environmental regulations and policies, which have sparked protests in several countries. 

Wirtz, originally from Luxembourg, is a senior policy analyst with the think tank Consumer Choice Center. His organization has been critical of European Union authorities, including EU food and agricultural policies.

Read the full text here

Trump relance la guerre commerciale : l’Europe doit-elle riposter ?

Face à l’offensive américaine, l’Europe doit-elle réagir immédiatement ou privilégier une stratégie plus subtile ?

Quelques semaines seulement après avoir prêté serment pour son second mandat à la Maison-Blanche, Donald Trump reprend là où il s’était arrêté. Aggravant la guerre commerciale avec les pays alliés, le président républicain a également porté son attention sur l’Europe.

Il a récemment suggéré, depuis la Floride, d’imposer des droits de douane de 25% sur les voitures, les semi-conducteurs et les produits pharmaceutiques.

Son approche est d’autant plus surprenante en ce qui concerne les produits pharmaceutiques. Bien que les Etats-Unis affichent un déficit commercial avec l’UE dans ce secteur, l’instauration de droits de douane ne ferait en réalité qu’augmenter le prix des médicaments pour les patients américains. En quoi cela serait-il bénéfique pour les consommateurs américains ?

En outre, M. Trump souhaite instaurer des droits de douane réciproques sur les produits européens afin de compenser l’impact de la taxe sur la valeur ajoutée (TVA) appliquée dans l’UE. Une telle approche reviendrait à élargir considérablement la définition des barrières commerciales, avec des répercussions bien au-delà des relations entre les Etats-Unis et l’Europe.

Or, selon l’Organisation de coopération et de développement économiques (OCDE), basée à Paris, plus de 170 pays appliquent aujourd’hui une TVA, en faisant une source de revenus essentielle pour les gouvernements du monde entier.

Le président a laissé les experts commerciaux dans l’incertitude quant aux détails précis de ses projets de tarifs réciproques, mais le chef de cabinet adjoint de la Maison-Blanche, Stephen Miller, a laissé entendre au cours du week-end qu’il pourrait envisager des mesures non tarifaires, telles que les TVA européennes et les taxes européennes sur les services numériques.

Par ailleurs, M. Trump continuera très probablement à brandir la menace de droits de douane sur l’acier et l’aluminium européens, comme il l’avait déjà fait lors de son premier mandat.

Pendant ce temps, à Bruxelles, la Commission européenne s’est engagée à prendre des mesures de rétorsion « immédiates » contre les droits de douane américains sur les produits de consommation et les biens manufacturés européens.

Bruxelles a également rappelé son attachement à un commerce fondé sur des règles, accusant Washington de saper ses engagements existants. Les Etats-Unis ont effectivement paralysé l’Organisation mondiale du commerce, ayant bloqué la nomination de juges à sa plus haute cour d’appel depuis le premier mandat de Trump.

Si l’engagement en faveur d’un ordre international fondé sur le commerce est une bonne chose à entendre au Berlaymont, il est également très positif d’entendre que, dans le cadre des concessions que l’UE prépare cette semaine même, il y a une ouverture sur la réduction des droits de douane de 10% imposés par l’UE sur les véhicules américains. Bien sûr, cela permettra à Donald Trump de croire que ses tactiques d’intimidation fonctionnent, mais cela fait également progresser les objectifs du libre-échange.

En tant qu’Européens, nous devons admettre que nous imposons également des barrières tarifaires et non tarifaires à nos alliés, bien que de manière plus subtile et plus détournée que Donald Trump. Nous subventionnons massivement nos agriculteurs, avons mis en place des normes alimentaires strictes et appliquons des droits de douane sur une large gamme de produits importés, y compris en provenance de pays que nous avons auparavant soutenus dans leur développement économique.

En 2018, l’UE a instauré des droits de douane sur le riz en provenance du Cambodge et du Myanmar, sous la pression des producteurs de riz de certains Etats membres, comme l’Italie, qui dénonçaient une concurrence accrue. Pourtant, ces deux pays asiatiques bénéficiaient de notre soutien économique pour stimuler leur développement, notamment en facilitant leurs exportations vers des marchés plus riches afin de créer des emplois pour leur population.

Ainsi, d’un côté, nous apportons une aide financière aux pays en développement, et de l’autre, nous imposons des taxes qui rendent ces mêmes produits plus chers pour nos consommateurs lorsqu’ils les achètent en supermarché.

Mais face aux menaces tarifaires de Donald Trump, la meilleure approche, dans l’immédiat, est de ne rien faire. Il n’est pas nécessaire de répéter la riposte tarifaire de Jean-Claude Juncker sur les blue-jeans, le bourbon et les motos Harley-Davidson – nous ne sommes pas censés gérer notre économie comme une cour de récréation.

Au contraire, nous devrions privilégier des négociations intelligentes, en rappelant aux Américains que le commerce est mutuellement bénéfique et que nos économies respectives échangent des biens essentiels dont nous avons tous besoin.

Originally published here

Agriculture: l’Europe se libère, le Québec doit en faire autant

L’Europe reconnaît enfin que sa sur-réglementation étouffe ses agriculteurs et amorce un virage vers plus de liberté. Englué dans la bureaucratie, le Québec doit s’en inspirer pour redonner aux producteurs le contrôle de leurs terres.

La Commission européenne a publié le 19 février dernier sa «Vision for Agriculture and Food», un document qui expose la manière dont l’exécutif de l’Union européenne entend réorienter ses pratiques après des années de manifestations des agriculteurs et de chaos politique sur la question des standards agricoles.

Une autocritique étonnante 

Ce document de 28 pages aborde tous les sujets, du soutien aux jeunes agriculteurs à la santé des sols et à l’innovation numérique. Cela dit, la partie la plus frappante de ce document de vision est l’autocritique: l’UE admet que trop de choses ont été négligées en matière de réglementation agricole. 

Les agriculteurs devraient être des entrepreneurs et des fournisseurs, et ne pas avoir à supporter des charges bureaucratiques ou réglementaires inutiles. 

Comme l’indique le rapport Draghi (un récent rapport sur la compétitivité rédigé par l’ancien premier ministre italien), «les exigences excessives et les obligations de déclaration entravent la compétitivité de l’économie de l’UE et l’innovation.»

Vers une déréglementation inédite?

Le rapport poursuit en expliquant que l’UE n’a pas besoin de réglementer la façon dont les agriculteurs font leur travail et qu’elle prévoit un effort de déréglementation sans précédent, qu’elle appelle diplomatiquement «simplification».

Il s’agit d’un changement significatif par rapport à il y a seulement cinq ans, lorsque l’Union européenne s’est lancée dans la réforme agricole la plus importante jamais vue. 

Dans le cadre du «Green Deal» européen, la Commission prévoyait de réduire l’utilisation des pesticides et des engrais, de diminuer l’exploitation des terres agricoles et de plus que doubler la production bio. 

Ces plans se sont retournés contre eux, notamment parce que les propres recherches de l’UE ont montré qu’ils allaient rendre les agriculteurs moins productifs, réduire leurs revenus, tout en manquant complètement les objectifs européens de réduction des émissions de gaz à effet de serre. 

La stratégie dite «Farm to Fork» semblait meilleure en théorie qu’elle n’aurait jamais pu l’être en pratique, comme en témoignent les mois de manifestations d’agriculteurs sur tout le continent. 

Aujourd’hui, l’Europe rompt avec ses tabous en autorisant les cultures génétiquement modifiées sur ses étals d’ici quelques années et en facilitant le respect de la réglementation par les agriculteurs. 

Même en ce qui concerne les pesticides, pour lesquels l’Europe fournit le cadre le plus strict, la Commission déclare aujourd’hui qu’elle souhaite s’éloigner d’une solution «one-size-fits-all». 

Le Québec doit d’inspirer de l’UE

J’ai récemment pris la parole devant les Producteurs de grains du Québec lors de leur assemblée annuelle à Drummondville. Il m’est alors apparu clairement que l’approche réglementaire du Québec allait dans le même sens que celle de l’Europe, avant son recentrage. 

Nos agriculteurs doivent composer avec beaucoup de règles liées aux subventions, de même qu’avec des interdictions performatives sur les pesticides (les villes de Montréal et de Québec ont toutes deux interdit l’utilisation du glyphosate), sans solutions viables pour les agriculteurs. 

Lorsque les producteurs déplorent leur perte de productivité, parfois en raison des conditions météorologiques, comme ce fut le cas l’année dernière, la réponse politique consiste généralement à débloquer des fonds supplémentaires. 

Ce ne sont que des solutions temporaires à un problème plus profond et structurel: plutôt que de transformer les agriculteurs en véritables employés de l’État, nous devrions leur laisser la liberté de cultiver leur terre selon leur savoir-faire, avec les outils qu’ils maîtrisent mieux que quiconque.

Originally published here

Courier Charge Increase, Why Is Govt Burdening The Public?

The Consumer Choice Center Malaysia, through its representative, Tarmizi Anuwar, has questioned the government’s decision to implement the Reference Price Guidelines for courier services, which took effect on 1 December 2024 where deliveries under 2kg will see an increase in fees from RM4.00 to RM5.00.

Deputy Minister of Communications Teo Nie Ching, recently stated that these guidelines are not mandatory and merely serve as a reference for the industry. However, Tarmizi argues that while they may not be legally binding, such guidelines still harm the market and consumers. “Although the government claims this is just a guideline and not a mandatory directive, courier companies can use these recommended prices to justify raising their service charges. This will burden consumers, especially small businesses and online sellers who rely on competitive shipping costs,” said Tarmizi.

He also emphasised that this move reduces competition in the market, as courier companies will no longer be incentivized to offer lower prices to attract customers. This deprives consumers of the opportunity to access cheaper services and negatively impacts the growth of the e-commerce industry.

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A narrow window for justice in Johnson & Johnson’s baby powder bankruptcy trial

The third time is a charm for New Jersey’s Johnson & Johnson, as the pharmaceutical and biotech giant attempts to get a court-issued seal of approval on its long-awaitedsettlement offer and subsidiary bankruptcy plan, which is sitting before a Houston federal courtroom this week.

Red River Talc LLC, the subsidiary tasked with handling the thousands of lawsuits related to J&J’s talc-based baby powder product and alleged ovarian cancers in female consumers, has so far been stymied by two bankruptcy courts in other jurisdictions, as well as by plaintiff lawyers angling for a larger settlement package.

What’s at stake in this trial is not just the legacy of a household name like J&J, or the women who have been injured, but also the future of injury and liability law in the US. A lot could change about how courts deal with convoluted corporate structure, victim compensation an defense against frivolous claims.

Though the company’s settlement offer of $10 billion garnered overwhelming support from 83% of the plaintiffs in the combined case, far beyond the 75% required in bankruptcy law, lawyers representing the holdouts aim to question the legitimacy of the bankruptcy altogether. One such group, the Coalition of Counsel for Justice for Talc Claimants, has reportedly questioned whether the vote was held in good faith, and factions of legal firms representing plaintiffs have been suing each other in court for a larger share of the settlement payouts.

The validity of that vote, as well as the legitimacy of the Red River Talc LLC’s bankruptcy, will soon be decided on by US Bankruptcy Judge Christopher Lopez.

The process of a subsidiary bankruptcy to settle claims against a firm is nicknamed the “Texas Two Step,” a process of splitting the assets and liabilities of a single entity as laid out in the Texas Business Organizations Code. Under Texas law, and increasingly in other states, this legal process, officially known as a “divisive merger”, is meant to protect company assets if a specific business unit comes into debt or faces a civil lawsuit that threatens other parts of the company.

Many opponents of the Texas Two Step believe it relieves larger firms of responsibility when they face lawsuits, but it has the advantage of being able to process settlements more swiftly and disperse payments through a bankruptcy proceeding than in a typical court trial. The latter approach can last years or decades.

This maneuver also avoids the well-known phenomenon of a “race to the courthouse,” where successive injury lawyers begin advertising and recruiting for similar cases once a settlement has been paid out, hoping to net more business for their firms by attracting a larger class of plaintiffs. Allegations that some firms have outstanding payments to litigation funders who’ve backed the baby powder case only add to the complication with J&J’s case.

Because the trial is now in bankruptcy court, relying on accountants and number crunchers instead of scientists and expert witnesses, it would be most prudent to finally settle the case and have the bankruptcy proceed to pay the victims what they’re due.

Allowing the trial to linger without a satisfactory ruling only further complicates how courts can settle mass tort claims in the future. The outcome is likely to embolden law firms in targeting certain companies for their size and prestige rather than the legitimacy of any injury claims.

This has been evident from the ongoing backlog of asbestos exposure cases from decades ago, where most firms and executives involved, as well as any victims, have already passed away.

If consumers are legitimately injured due to a company’s product or its services, no matter how large, there should be every tool available to compensate them in the timeliest way possible.

The Texas Two Step offers a solution for compensating those who can claim injury while avoiding the worst of our highly litigious legal system and its perverse incentives for injury lawyers to always claw for more instead of taking care of their clients promptly. This case could determine whether justice moves at corporate speed or that of human lifespans.

Allowing a controlled process of bankruptcy to address pressing claims and dispense justice to plaintiffs who want closure is the only reasonable path forward. It’s reasonable, and fair, not just for victims of today, but for the future of America’s legal system going forward.

Originally published here

The American Path to Competitive Advantage

As a global economic and financial power with military hegemon status facing increasing challenges from the East, the United States is presented with a unique opportunity to project its strength and influence. As a reigning technological leader with thriving markets and capital, the U.S. must ensure that its policies continue to adhere to its values while providing the autonomy and support structure needed to enrich its people and contribute to global flourishing. 

Permissionless Innovation 

The United States must commit to empowering its markets and innovators by advancing permissionless innovation. In the past half-century, the most impactful inventions and technologies developed on American shores have emerged from the bottom-up, as self-maximizing entrepreneurs and industrialists have competed to feed consumer demand, employ talent, and deliver goods and services needed across the world. This status quo has provided dividends for American security and strength, allowing the country to become much nimbler and more adaptive while avoiding the pitfalls of centralized command and control as practiced in China.

In allowing the unprecedented growth of the Internet through light-touch regulation for decades, the U.S. set global standards for tech and innovation. As a result, rules and regulations have emerged over time rather than been imposed by above, giving innovators the ample space and runway to develop both the hardware and software that consumers have come to rely on. We must avoid top-down regulatory approaches on AI and other technologies as they have been tried in blue states, which would only serve to stunt our growth.

By shunning the precautionary principle, which hampers far too much innovation and growth on the European continent and elsewhere, the U.S. has embraced a system that rewards risk and punishes failures through market mechanisms rather than bureaucratic mandate. This unique system, matched with deep capital markets, stable rule of law, and protection of intellectual property, has made the U.S. the ideal launching pad for creative pursuits that have created vast amounts of wealth and opportunities.

In the fields of artificial intelligence, Bitcoin and cryptocurrencies, financial technology, advanced manufacturing, and robotics, the U.S. can maintain its global lead over adversaries and competitors by adhering to permissionless innovation.

Energy Supremacy 

As a nation blessed with vast natural resources, the United States must continue to allow the development of energy projects of all stripes to continue to feed electricity grids, but also to power the next generation of data centers, transportation, and industry. 

Affordable and abundant energy will be a dominant force in freeing up the resources, time, and wealth for the economic and technological growth to remain competitive, as well as providing for the higher standard of living that will be demanded by the American population. For data centers and computing hubs, cheap energy will be requisite for maintaining an edge. 

While still maintaining environmental standards, removing red tape for pipelines, natural gas extraction, offshore wind, and nuclear energy will have to be viewed as an all-encompassing strategy to maintain the country’s energy supremacy and dominance. Outdated infrastructure will have to be replaced, and regulatory systems will have to be streamlined.

Freed from the global oil market fluctuations outside of American control, maximizing the energy surplus produced domestically and provided to ally nations will ensure that firms can remain competitive and keep prices low, maintaining the relative strength of the dollar as the world reserve currency and giving global investors even more reason to put their funds in the growing technology sector in the United States.

Avoiding Choosing Winners and Losers 

Though the U.S. is poised to develop technological solutions to the world, there is a growing antitrust movement in domestic politics that may harm entrepreneurial efforts to otherwise deliver value. The dominance of Big Tech has unified some elements of both right and left political coalitions intent on trimming these firms down to size, but to cut down our own domestic champions at a time of growing global competition would not be wise.

Though there are many arguments about market concentration, whether certain firms should be allowed to merge with or purchase others, or whether policies should be devised to mandate more competition by force, we should return to the dominating principle of consumer welfare as the north star for competition and antitrust policy. The mandated breakup and competition scrutiny of firms like Google, Meta, Nvidia, or OpenAI may unite certain ideological factions, but it would serve no other purpose than allowing the government to pick winners or losers for reasons beyond consumer welfare. This, in turn, would deprive startup firms of capital and opportunities aided by these companies, either directly by its investors or those who’ve transferred their skills to other firms to compete. At the same time, the U.S. should avoid costly corporate welfare schemes that may serve to prop up inefficient entities while locking out otherwise talented upstarts, not to mention throw good money after bad. 

With a strong competition policy that allows winners and losers to be decided by consumers and the market, rather than by lawmakers, attorneys, and judges, the United States can ensure a competitive field that will deliver tech innovation to benefit all consumers.

Originally published here

Experts Slam Government After “Disastrous” Apple Encryption Move

Security and consumer rights experts have urged lawmakers to hold the UK government to account, after Apple removed end-to-end encryption (E2EE) in iCloud following data access demands from the Home Office.

Although the access request was made in secret under the controversial Investigatory Powers Act (IPA), also dubbed the ‘Snooper’s Charter’, it was widely reported as happening earlier this month.

However, as long argued by Apple and other tech companies, it’s impossible to create an E2EE “backdoor” for government and law enforcement without putting all customers at risk.

That’s why Apple has taken the decision to remove the opt-in Advanced Data Protection (ADP) feature for UK customers.

“We are gravely disappointed that the protections provided by ADP will not be available to our customers in the UK given the continuing rise of data breaches and other threats to customer privacy,” Apple said in a statement.

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