Tube strikes: With union ingratitude on full display, will Labour finally change course?
As Tube strikes bring London to a halt, Labour must realise its pushover relations with trade unions have been to no avail, writes Paul Ormerod Keir Starmer has tried to signal a major reset of his government by his reshuffle of the Cabinet and the promotion of a batch of the new intake of MPs. A different […]
Has Reeves realised she’s reached the limits of taxation?
Much of the economic damage has already been done, but in ruling out wealth taxes and further pay deals with doctors, at least the Chancellor is allowing a shimmer of light to peep through, says Paul Ormerod England’s cricketers narrowly failed to score the 374 runs needed to beat India in the final Test match […]
Is Joe Root actually the greatest English batsman ever?
Joe Root has been acclaimed as the greatest English batsman ever, but is it actually true? Paul Ormerod delves into the stats Joe Root has delighted cricket fans for well over a decade. In the recent Test match against India, he moved into second place in the all-time world list of total number of Test […]
Starmer must face down the self-righteous clowns on his back benches
Keir Starmer’s attempt to select compliant MPs has backfired, producing a rebellious and ill-informed parliamentary party that has already successfully vetoed its own government’s economic policy, says Paul Ormerod A fundamental feature of the social and economic world is that intentions are not the same as outcomes. Morgan McSweeney and his colleagues exercised very close […]
Enough with black-hole blaming, Reeves is ignoring low hanging fruit
Raising taxes and plugging black holes, Labour’s discourse ignores proven (and easier) methods to boost productivity, says Paul Ormerod The Chancellor, Rachel Reeves, has a major financial problem. Much of this is of her own making. Her relentlessly negative narrative about the UK economy has in itself created a stagnant economy. The issue she faces […]
To find out who’s to blame for economic uncertainty, reeves should look in the mirror
Household spending is down £50bn since last year. It’s hardly surprising there’s so much uncertainty in the economy given the relentless negativity of the Chancellor herself, says Paul Ormerod Households in Britain are still saving large chunks of their incomes. The Office for National Statistics (ONS) confirmed this week that the percentage of income saved […]
Is Labour changing its mind about the OBR?
Labour is becoming increasingly disillusioned with the OBR as the reality sets in that no amount of forecasting can solve Britain’s spending problems, says Paul Ormerod How fashions change! Less than a year ago, Labour politicians were falling over themselves to praise the Office for Budget Responsibility (OBR). Labour was elected on a promise of […]
How much should you pay to see Billie Eilish? Don’t ask St Thomas Aquinas
Thomas Aquinas argued for the concept of a “just price”, but when it comes to concert tickets the correct price is the one determined by the market, says Paul Ormerod Summer is in full swing, and with it the usual round of festivals and music gigs. Alongside these, another tradition is emerging. Namely, extensive whingeing […]
Farage has a point, the UK should stop subsidising Scotland
It may have lost him the byelection, but Nigel Farage has a point about Scottish spending, writes Paul Ormerod Last week, Nigel Farage created a bit of a storm north of the border when he suggested that the longstanding formula for calculating how much Scotland receives from the UK Treasury needed “looking at”. Some commentators […]
From rare bees to miners’ pensions, money is now no object in parliament
Miners’ pensions, indigenous rights, the shrill carder bee – parliament and the public have lost touch with the reality of public spending, writes Paul Ormerod Early day motions (EDMs) are a longstanding feature of parliament. Some are tabled for local publicity for the MP, such as the one last week congratulating Peterhead on being champions […]
What Rachel Reeves can learn from Geoffrey Howe
In 1981, Geoffrey Howe defied Keynesian orthodoxy by tightening fiscal policy during a recession – and completely changed the narrative about the British economy. Reeves must do the same, but all she offers is doom and gloom, says Paul Ormerod The UK economy is either already in or very close to a recession. Despite Rachel […]
UK universities should focus on excellence, not DEI
The UK university sector won’t solve it’s financial problems by prioritising diversity goals over research quality, says Paul Ormerod The university sector in the UK often seems to live in a dream world. Research England, for example, is proposing to order them to “robustly” promote diversity and inclusion in order to qualify for access to […]
Is choosing not to work a rational response to economic conditions?
Economic theory teaches that people will make the optimal allocation of their time between work and leisure, and if they can’t earn why bother to work? That’s a choice neither individuals, nor the country can afford, says Paul Ormerod The rise in worklessness is acknowledged across the political spectrum to be a serious problem. It […]
If the ONS can’t measure productivity, how are we meant to improve it?
The ONS’s shortcomings are far from trivial, its bad maths is holding back the UK economy, writes Paul Ormerod The Office for National Statistics (ONS) has come in for a lot of criticism for the accuracy of its labour market data. More specifically, its estimates of how many people there are in employment have become less […]
Method in Trump’s madness? What economic theory teaches us about tariffs
Trump’s tariffs have sent the world into a frenzy but there could be method yet. Economic theory shows that tariffs can in some cases reduce prices, writes Paul Ormerod The reactions to President Trump’s tariffs have been frenzied, to say the least. The headline on many of the stories about them might well have read “The […]
