In his first full day as Prime Minister, Andy Burnham has announced that VAT on household energy bills will be removed from October. While no doubt well intentioned, this would be a mistake. First, it is risky for the public finances. VAT on energy bills brings in a significant amount of revenue. The Government has […]
‘I’m personally convinced that our civilisation is approaching its end,’ wrote the British journalist Malcolm Muggeridge in 1980. ‘I think of St Augustine when, in AD 410, the news was brought to him in Carthage that Rome had been sacked by the Barbarians.’ Jim Callaghan was equally gloomy. In 1974, he remarked: ‘When I am […]
Below is a speech incoming Prime Minister Andy Burnham could give – one that would unite the country around a shared vision of prosperity. Prosperity for All My fellow citizens, Today, as I stand before you as your Prime Minister, I want to cut through the political noise and give you the unvarnished truth about […]
In Gordium, the capital of Phrygia, stood an oxcart, its yoke connected to the pole by a knot of cornel bark so intricate that no one could find where it began or ended. An oracle promised that whoever undid it would rule all Asia. For generations, clever men picked at it, theorised, and organised what […]
The Great Depression was bad, but how bad was it exactly? In its early days, people spent a lot of time arguing over specific metrics like steel output or share prices, but the US Congress wanted a way to quantify how bad things were for the economy as a whole. In 1932, Congress commissioned Simon […]
The OBR’s latest Fiscal Risks and Sustainability report, published this week, gives a blunt assessment of the UK’s public finances: we can’t go on like this. If nothing changes, government debt will rise to an unsustainable 300% of GDP in 50 years’ time. How did things get so bad? Well, there’s one big demographic challenge […]
Here it comes again. Whoever Andy Burnham chooses to be his Chancellor of the Exchequer will face the same challenge as all their predecessors since Gordon Brown: producing ‘fiscal rules’ to reassure the City they will be prudent holders of the nation’s credit card. With Britain’s national debt higher than it’s been for decades, and […]
‘It is time for Whitehall to accept that growth cannot be ordered from the top down,’ Andy Burnham said in his first major speech since returning to Parliament. ‘Instead, it can only be nurtured from the bottom up.’ He is right. The man about to enter Downing Street has seen what much of his party […]
As the Sex Pistols sounded the last honk of their guitar amps in a San Francisco rock venue in 1978, Johnny Rotten leered over the crowd one final time. “Ever get the feeling you’ve been cheated?” A strange question to ask a group of punks perhaps, if one made more explicable by Rotten’s swift departure […]
In a recent speech, Andy Burnham, Makerfield’s new MP and likely our next PM, said he would end ‘trickle-down’ economics. What on earth was he talking about? The Left often accuses the Right – and particularly the last Conservative government – of practising this voodoo art form. Supposedly, right-wingers give tax breaks to the ‘rich’ […]
Since Andy Burnham became the Mayor of Manchester in 2017, the term Manchesterism has taken on a new meaning. To him, it stands for the expansion of the public sector and a managerial state. Now, with Keir Starmer on the brink of resignation and Burnham’s Makerfield by-election win clearing his path to Westminster, Britain may […]
Last Friday, the most capable AI model in the world went dark. Anthropic had released Fable 5 three days earlier; on June 12, a U.S. executive order cut off access for foreign nationals. With no clean way to wall Americans off from the rest of us inside a global system used by hundreds of millions […]
Some are saying they don’t know what Andy Burnham’s big ideas are. They don’t know what he will try to achieve when he becomes prime minister. On GB News earlier this week, Boris Johnson described Burnham as a ‘mascaraed Mancunian mystery’. It is a peculiar concern. Burnham’s ideology seems to me no harder to identify […]
Keir Starmer is now an empty-vessel Prime Minister, nominally in office but visibly out of power. His fall from grace after Labour’s emphatic win almost two years ago brings an end to stage one of a government in collapse. Starmer has gone from weak leader to lame duck in a matter of days, and Andy […]
When Andy Burnham enters No10 in weeks the pressure to implement new policy will be massive. The advisers who hold his ear will try to act fast, thinking that they have learnt the lesson from Starmer’s processology. Labour MPs have made their desire for ‘big change’ known for months but have failed to articulate it […]
The UK has the lowest business investment of any G7 country. The last time its business investment stood above the G7 median as a proportion of GDP, John Major was Prime Minister. The Labour government’s instinct, both in its manifesto and in practice, reflects the old Keynesian mindset that “The duty of ordering the current […]
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