Taxes, taxes and more taxes. Black holes, lack of fiscal sobriety and an IMF moment looming. Among the various gloomy forecasts for Britain’s finances, the only issues, everyone seems to agree, are: what novel new taxes might the Chancellor impose, plus, what existing taxes will the Chancellor increase, and by how much? It’s a depressing […]
The end of this week, one in which we have had both the Chancellor‘s Spring Statement, and the second reading of the awful Employment Rights Bill in the Lords, offers a useful moment to take pause and look back over what economic plans Labour have managed to put into play so far; what economic effect […]
After World War II, social democracy gradually became the reigning political and economic idea in Western Europe. Seen as a synthesis of different ideas that were opposed to the two extreme poles of fascism and communism, it attracted not just stalwart Labour politicians such as Dennis Healey, but also those on the Left of the […]
What would you like your government to do, above all, for you? Well, yes, safe streets, a predictable and peaceful future, fairness and the like, but above all, most people would like a return to the compact between government and population that existed in the 20th century, of steadily rising wages and wealth for each […]
Dear Chancellor: I commiserate. Karma is, indeed, a bitch. Here you are, having spent years complaining about the useless Tories, having done all the right disciplined electoral things to keep all sorts of flexibility up your manifesto sleeve, yet you now find yourself in exactly the same situation as what Sunak, Kwarteng, Hunt et al. […]
The widely approved narrative of Liz Truss’ demise is that she and Kwasi Kwarteng triggered a collapse in the bond markets with an ideologically-driven, economically ignorant mini budget. It’s a comforting story to tell, particularly for those who always opposed Truss and her attempts to shake up the economic status quo. The problem is, it’s […]
What next for Ukraine? The preoccupation of the media, and in many parts of the political world, seems to be the threat that the Russians might go for the nuclear option – whether tactically or strategically. Vladimir Putin has egged on this interpretation with his latest statement that Russia will use ‘all means at our […]
I first started to go to Stamford Bridge when I was but a mere lad, taking the number 11 bus up the Kings Road and paying whatever few shillings it cost (money wheedled out of mum) to get into the Shed End, which like all parts of the stadium at that time was a standing-only […]
As of last week, there have been 127,000 deaths in a little over a year – a tragic outcome by any measure. If those are the kinds of numbers we can expect every year, then clearly the most drastic measures will be necessary to keep Covid under control. But unless some dramatic and unexpected twists […]
It can be frustrating to watch the non-scientists who run our government being deferential to scientists who seem to have less than a full understanding of statistics. Possible approaches for mitigating the coronavirus are passed by, often it seems as a result of a lack of statistical training, most often a lack of understanding of […]
Boris Johnson’s announcement of visa prioritisation for scientists can initiate an innovation revolution in the UK. Investment in infrastructure is not just about bricks and mortar. Britain’s success over the centuries was driven by its intellectual infrastructure –in the Enlightenment; the Industrial Revolution; in so many scientific advances in the 20th Century; and in the […]
Dear Millennials, I have read and watched with careful attention the complaints made by many of you, and others on your behalf, about the Brexit referendum. For two years and seven months, the internet has been awash with complaints that an older generation has “stolen your future”. Some of these complaints are thoughtful; some are […]
The role of civil servants is to serve their political masters: to put into successful effect the policies of their ministers and government. Their task is to be impartial, knowledgeable, helpful and above all provably right when it comes to giving advice. For over 30 years, the Treasury has almost universally failed in these objectives. […]
The role of civil servants is to serve their political masters: to put into successful effect the policies of their ministers and government. Their task is to be impartial, knowledgeable, helpful and above all provably right when it comes to giving advice. For over 30 years, the Treasury has almost universally failed in these objectives. […]
A couple of years ago, in the Guardian (of all places), a fascinating snippet came to light: in the fifty years since 1964, however much Chancellors tinkered with the tax code – income tax rates up at 96%, down to 40%, back up to 50% – the amount of overall tax revenue that was actually […]
