Rishi Sunak’s strategy of quiet governance won’t deliver an election victory
One of the prayers in the 1662 Anglican Prayer Book entreats that we be “godly and quietly governed”. In other words, government should not just be reasonable and morally upright, there should also not be too much of it. Rishi Sunak appears to have taken this to heart, or at least the “quiet” bit, given […]
Housing Associations have no accountability and a 2-year-old has paid the price
The tragic death of Awaab Ishak, the two-year-old killed by exposure to mould, has been described in detail over the last week. We’ve heard of all the complaints made against Rochdale Boroughwide Housing (RBH), the housing association which owned and managed the flat. And yet, the organisation appears to be full of self-congratulation. It boasts […]
Everyone wants a pay rise, but we will have to pay with cuts to jobs or services
The nation seems to be in the grip of an epidemic of cognitive dissonance. Where is Matt Hancock when we really need him to impose a lockdown and save us from this menace? Two major events have put huge strain on the public finances. The pandemic led to government borrowing of some £400bn, around 20 […]
Sunak’s flexibility has been curtailed by our undue reverence for the Bank of England
Rishi Sunak will deliver an updated Autumn Statement next week, after Liz Truss’ so-called “mini-budget” triggered her demise. His freedom for manoeuvre has been sharply contained by the new found reverence being accorded to the Bank of England and the Office for Budget Responsibility. The Bank of England has forecast a long recession, which could […]
Not all is doom and gloom: a recession is not the only possible scenario facing Britain
The prime minister and the Chancellor are struggling to “balance the books”. Around £50bn might be needed from a combination of cuts to spending plans and increases in taxation. This has led to a chorus of voices squealing about austerity creating a major economic recession. The argument goes back to Keynes, writing in the aftermath […]
It’s time to go back to basics and go about fixing our deficit before more tax cuts
As inflation pushes prices further and further up, food has been getting more expensive for some time. But, as the cliche goes, there was never such a thing as a free lunch. This idea, well known among economists, means prosperity depends upon making the effort to raise productivity. These are concepts which Western electorates are […]
Our public services will keep falling apart as long as our economy continues to stagnate
History is full of examples of the right set of policies being introduced at the wrong time. A dramatic example is the case of Lavrenty Beria, who was the head of the Soviet secret police from the late 1930s. Immediately on Stalin’s death in March 1953 he took control of the government machine, only to […]
An information campaign on energy usage would have made a lot of economic sense
The prime minister’s apparent veto of a plan to persuade people to use less energy this winter has stirred up controversy. The usual rabble have been quick to decry Liz Truss for abdicating responsibility, following the old lines of those who wanted more or less restrictions during the pandemic. But economic theory can readily justify […]
Our politicians must wake up to the public debt effect
In a novel by C.P. Snow, a physicist turned author who served as science minister under Harold Wilson in the 1960s, the master of a Cambridge college says that “gratitude isn’t an emotion, but the expectation of gratitude is a very lively one.” The prime minister and her Chancellor may well be having exactly the […]
Low tax regimes only matter as much as their longevity
The tax breaks will, we were told, include 100 per cent relief from business rates on newly occupied business premises, and offsets for companies on spending on new plant and machinery in the first year. Relaxed planning regulations are also set to be part of the package. The race from local authorities to be included […]
