Port Talbot closure highlights uncomfortable truth about clinging onto the past
The decision by Tata Steel to shut the blast furnaces at the steelworks in Port Talbot, South Wales, has provoked outrage. Almost three quarters of the 4,000 workers at the plant will lose their jobs. On the same day that the news broke, the government announced a £500m subsidy for Tata’s £1.25bn proposed investment on the […]
They may be annoying, but Gen Z’s quarter life gap years are economically rational
Generation Z has been getting a lot of bad press recently. Allegations that they enjoy “quiet quitting” and boast of their “lazy girl jobs” were gathering momentum last year. These were given a huge boost in November when the American television personality Whoopi Goldberg made headlines with her claim that they just were not willing […]
A look at Germany shows the UK’s growth problem is not a Brexit phenomenon
We English are notoriously bad at languages. But, like magpies, rather than bothering to make the effort, we steal words from others. That is why there is no word in our language for “Schadenfreude”, taking pleasure in the misfortunes of others. And all but the most diehard of Remainers, eyes firmly closed to the evidence, […]
May Cameron’s Wellbeing Unit rest in peace, money can buy happiness after all
Last month, the government announced that the What Works Centre for Wellbeing, set up with great fanfare by David Cameron in 2014 with the mission to boost national happiness, is to be shut down. Ever since the concept was first launched after the Second World War, the main focus of the policy of governments of […]
Tougher borders won’t stop Britain from being overwhelmed by illegal migration
Last weekend, at his meeting with the Italian prime minister Georgia Meloni, Rishi Sunak claimed migrants were threatening to “overwhelm” countries like the UK unless drastic action is taken. Sunak’s Italian counterpart is currently considering a similar scheme to the now highly controversial plan to send refugees to Rwanda. But the PM’s comments sparked a fresh wave […]
The vast social costs of Covid lockdowns are clear, so why is the inquiry silent?
The liberal establishment appears to remain wedded to a narrow and blinkered view of the Covid pandemic and its consequences. It has been on full display during the Covid inquiry, especially during the cross-examination of Boris Johnson. Hugo Keith KC, the lead barrister at the inquiry, made a great effort to establish that the UK […]
Seven years on, we need to finally stop blaming Brexit – just look at the numbers
Two quite contradictory messages have been given about Brexit over the past few days or so. First, Makoto Uchida, the chief executive of Nissan, a company originally very critical about the UK’s exit from the EU, pronounced that the impact of Brexit on its UK operations is now negligible. He urged the country to be […]
We can’t subsidise or incentivise away the pain of a transition to renewable energy
The Scottish Nationalist Party has become notorious for their inconsistency. The latest example is its hapless health minister, Michael Matheson, who submitted a bill for £11,000 for the use of his iPad whilst on a family holiday in Morocco. He first claimed it was all incurred on official business between Christmas and the New Year. […]
Sluggish global growth cannot be an excuse for Britain ignoring opportunities
With Labour currently looking to win the next election by a mile, the centre-left think tank the Institute for Public Policy Research (IPPR) is growing in both influence and attention. But did the IPPR set a new world record last week for the speed of getting its recommendations translated into actual policy decisions? Last Friday […]
From Alison Rose to water exec bonuses, massive payouts are killing productivity
The last week has been momentous on various fronts. The decision by the NatWest board to scrap £7.6m of former chief executive Alison Rose’s potential leaving payout was almost buried in the avalanche. But it offers a glimmer of hope amidst the overall gloom. The decision itself has all the hallmarks of a classic corporate […]
Brits are afraid of failure, and the flop of WeWork will deter future entrepreneurs
The conviction of Sam Bankman-Fried (SBF), founder of cryptocurrency exchange FTX, on multiple charges of massive fraud last week throws the spotlight once again on the risks of investing in high-tech ventures. FTX attracted vast amounts of investment from venture capital and grew spectacularly. But from being feted in the financial press and courted by […]
We’re fighting over-regulation with yet more regulations in an insane spiral
The policy of the Welsh government to impose a 20mph speed limit in towns and villages across the country has been controversial, to say the least. One of its impacts has been completely contrary to the aims of Mark Drakeford’s government, which is very keen to promote public transport. The new speed limit has led […]
If economic experts wield political power, we’ll get dragged into fiscal groupthink
Even before the double win in last week’s by-elections, Labour was behaving like a government-in-waiting. Apparently the party has begun drafting the bills for the initial pieces of legislation it will enact after the election. When George Osborne was at the Treasury, the Conservatives created the Office for Budget Responsibility (OBR). This meant responsibility for […]
Without a recession, Bailey won’t wrest back control over inflation
Andrew Bailey, Governor of the Bank of England, admitted last week that interest rates will remain higher for some time to come. The boss of the Old Lady said he stood by the target inflation rate of 2 per cent, but to get there, higher interest rates were necessary in the arsenal for the “last […]
Daunting task of improving public services is the real challenge for next government
Scotland has featured prominently in the media following Labour’s massive victory over the SNP in the Rutherglen and Hamilton West by-election. The sheer incompetence of the Nationalist government in Edinburgh is sinking in with the Scottish electorate. Voters in England are increasingly dissatisfied with the quality of public services they receive. But it is worse […]
