John Healey is the eleventh chancellor since the 2008 global financial crisis. Some of his predecessors served only briefly, but the direction of travel has been clear, regardless of who occupied Number 11. Growth has been modest, living standards have stagnated and the public finances have deteriorated. The pandemic made matters worse, but the direction […]
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 […]
London is delivering the fewest number of homes since the Second World War. Over the past two financial years, London has started just 15,040 homes in total. Over the same two years, London’s housing target was 175,984. That means housing starts were only 8.5% of the target, a truly dreadful figure. London’s housing shortage stands […]
Almost lost between this week’s national mourning (in England anyway) over the World Cup, and the endless Westminster fantasy-football speculation about who’s going to be in or out of Andy Burnham’s first cabinet, was an oh-so-British announcement about Dartmoor ponies. The endangered breed had been put in further peril by Natural England’s plans to protect […]
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 […]
The way we as consumers engage with news, TV and online media is continually evolving. Traditional TV has been increasingly usurped by streaming services. Apps like YouTube are taking up a greater share of viewers’ time and are now successfully competing with the likes of Netflix. It is natural that in this environment competition is […]
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 […]
For a nation of Nimbys, Britain – or at least London – is remarkably fond of its skyscrapers. We love them so much we give them cutesy diminutives like ‘The Gherkin’, ‘The Cheesegrater’ and the ‘Walkie Talkie’. We boast about vistas from which you can see them, marketing properties for their ‘stunning view of The […]
Barring some form of constitutional crisis, Andy Burnham will become Prime Minister. We do not even know who his new Chancellor will be, let alone what their policies and priorities are. However, whoever gets the top job at 1 Horse Guards Road, they should make tax reform their top priority if they want to bring […]
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 […]
Schools do not exist in isolation from the economy. The number of young people who are not in employment, education or training (NEET) is, in large part, a function of the economic conditions in which they leave education. When growth is weak, entry-level opportunities are scarce, employers are cautious and the public finances that pay […]
Britain is in a growth emergency. But our political class refuses to act like it. Government after government, prime minister after prime minister, it has failed to take the radical action required. Economic growth has been on a downward trajectory for 70 years. We have gone from one of the richest countries in the world […]
Across the UK, millions of people rely on the railways to travel. From 2024 to 2025, there were 1.7 billion passenger rail journeys, of which 1.08 billion were completed within a single region. And yet all too often, local rail has been neglected, with funding prioritised for London and the South East. As a result […]
Nigel Farage, the Member of Parliament for Clacton and leader of Reform UK, has resigned, triggering a by-election in the constituency. This follows weeks of speculation regarding an undeclared £5 million gift Farage received before he became an MP, as well as other gifts he allegedly should have declared. Farage intends to stand in the […]
Most of those who, despite all discouragement, continue to invest in the UK have a sense of foreboding over an Andy Burnham premiership. We know that he will try to reconcile two irreconcilables. First, he will offer bold, exciting change from the uninspiring couple of years under Keir Starmer. Second, he will resist holding an […]
