We need to stop comforting ourselves with the myth of the all-powerful central bank
Inflation continues to be a major problem for policy makers. The annual rate of price increases hit 7 per cent last month and could be in double figures later this year. This projection is far from being a fantasy. On some measures, annual inflation in America is already over 10 per cent. Rather bizarrely, the […]
It’s time to salvage rational thought when we look at immigration plans for refugees
Priti Patel’s proposals to send illegal immigrants to Rwanda has sent the usual suspects into a veritable lather. Not since the peak days of the pandemic, have we seen such a number of people indulge in virtue-signalling. Even the Archbishop of Canterbury has joined in, cornering the headlines on Easter Sunday. He seems to have […]
Scandals within the NHS have finally made us question the angelic halo of our doctors
Much of the narrative around the health service over the past few years has depicted nurses as angels and doctors as living saints. Soap operas are helpful purveyors of this narrative. Perhaps the most famous is George Clooney as the charismatic Dr Ross in the long running American medical drama ER. Dr Ross, despite the […]
As Rishi wades through the cost of living crisis, static growth is waiting in the wings
The short-term pressures on Rishi Sunak have continued to grow in tandem with the cost of energy and everyday essentials. Conservative MPs are increasingly panicked about being saddled with a label of being “high tax Tories”. But underlying all of this is a much more worrying phenomenon. Since the financial crisis of the late 2000s, […]
Despite what we wish, there are no miracle economics Rishi can pull out of his hat
The economic pressures now known as “the cost of living crisis” were at the core of the criticism of the spring statement last week. Those who once eulogised the Chancellor have now been selling their stocks of Sunak. While much of the commentary is unfair, politics is a trade in which the concept of fairness […]
As Omicron sweeps through again, Britain has finally learnt to live with Covid-19
A huge third wave of Omicron cases is sweeping the country. This will be readily apparent in the everyday lives of many people. Family members have it, work colleagues have gone down, small restaurants and service businesses must close for a few days through staff shortages. According to the reliable Zoe Covid data produced by […]
A renewed focus on defence spending could turbocharge Britain’s scientific innovation
Germany, along with most of the rest of the EU, has finally woken up to the folly of relying on other countries – mainly the US but also the UK – to defend them. At the end of last month, Chancellor Olaf Schulz announced that €100bn will be put into a new defence procurement fund. […]
As government debt jumps to fund defence spending, our economy will pay the price
Sanctions will clearly hit the Russian economy very hard. But economic prospects for the West are not exactly rosy. Twice in the 1970s and again in the early 90s, there were rapid spikes in oil prices; each instance was followed by economic recessions. The deep recession following 2008 was, of course, due to financial causes […]
Subsidies to Wales have made devolution a begging bowl rather than a point of pride
Did you raise a toast yesterday to the staff of Gwynedd Council in North Wales? They were enjoying their very own special Bank Holiday to celebrate the day of the patron saint of Wales, St David. Gwynedd council proudly declared in January that it would “grant” this extra holiday. All very well and good, except that […]
A four day week must withstand the productivity test to be worth the gamble
Durham based challenger bank Atom has announced a four day working week for all of its 430 employees as more and more people debate the number of days we should be working. For SMEs in the services sector, a four day week is an attractive bandwagon to jump on. It is commonly given credit for […]
