For much of the last forty years, Britain’s economic direction appeared settled. Governments argued about tax rates, spending priorities and public services, but the broad framework changed little. Privatisation, deregulation, competition, independent regulation, free trade and globalisation became part of the political consensus. Even Labour governments largely accepted the settlement created during the Thatcher years. … Read more
The US government is refunding $81bn in tariff payments to importers, following the Supreme Court’s February 2026 ruling that Trump did not have authority under the International Emergency Economic Powers Act to impose many of his tariffs. Not every business has been repaid: In June alone, about $49.2bn was refunded; May and June together accounted … Read more
On Wednesday, England will play Argentina in the World Cup semi-final. Throughout the tournament, some supporters have suggested that referees have treated Argentina—and Lionel Messi in particular—favourably. Messi is not merely Argentina’s most famous player. He is the most recognisable footballer in the United States, where he plays his club football, and one of the … Read more
Two sets of photographs 24 hours apart. One was at the Durham Miners’ Gala. The other was in Horden, a former pit village a few miles from where I grew up. At first glance they seem to tell completely different stories. One is a celebration of brass bands, banners and working-class history. The other has … Read more
Clacton is back in the news a few months after I visited it. Once again it’s politics are a matter of national debate. When we think about deindustrialisation, we think about pit villages, silent steelworks and abandoned shipyards. We picture rusting blast furnaces, boarded-up factories and communities that lost the industries on which they had … Read more
I promised myself that the Alliance for Responsible Citizenship conference would be my last encounter with the organised far right for a while. Then I remembered that one of Britain’s oldest far-right religious organisations meets only a few yards from my house. For years the British-Israel World Federation held meetings in Durham. Today it meets … Read more
The UK Real Estate Investment and Infrastructure Forum (UKREiiF) took place in Leeds last month. Reform were out in force, making policy announcements with the confidence of a party already in government. Although they hold no national power, many of their newly elected councillors are clearly behaving as though they do. Among the familiar themes … Read more
On 4 July 1776 the United States declared its independence from the greatest empire on earth. For 250 years Americans have celebrated that act of rebellion. The United States likes to think of itself as the country that threw off colonial rule, rejected empire and built something entirely new. The latest anniversary falls during the … Read more
When SpaceX’s share price fell last week, Elon Musk lost another vast slice of his fortune. That hardly qualifies as a national tragedy. But it is a reminder that one of the richest men in history owes much of his wealth to a company routinely presented as the ultimate triumph of private enterprise. The reality … Read more
