The Conservatives are in permanent decline, unable to arrest their slide in the polls. They haven’t managed to poll beyond third place since April, and defections to Reform UK are now dangerously frequent. Danny Kruger became the first shadow cabinet minister to jump ship last week. Few think Kemi Badenoch will still be in place … Read more
Once again, we’re talking about government debt and interest rates. At Labour’s last conference, Andy Burnham was criticised for suggesting the UK government shouldn’t pay so much attention to international financial markets and the price they charge for UK government debt. The criticism was justified: as long as the government has to borrow, it must … Read more
One of the defining principles of old-school Conservatives in the UK and the US was “sound money”: maintaining the value of the currency, keeping inflation in check, and controlling the money supply. Under Thatcher, this was elevated into the main tool of economic policy—with disastrous consequences. Modern right-wingers on both sides of the Atlantic have … Read more
I am woke. Totally woke. If someone wants me to use a particular set of pronouns, I’m happy to do so. I try my hardest to avoid discriminatory language or anything that would cause unwanted offence. I don’t always get it right, but I don’t mind if people point it out. For me, this isn’t … Read more
Last year the Government introduced VAT on private school fees and ended their business rate exemption. I wrote about this at the time. That blog was widely read — which says something about the demographic of my readership. The question I asked then was about price elasticity of demand. What is Price Elasticity of Demand? … Read more
Another Magic Wand The latest “big idea” in economics is wealth taxes. The claim: Britain’s collapsing public services and messy finances exist because the rich don’t pay enough, and governments are too timid to act. I’m always suspicious of these kinds of fads. The right had its laffer curves, trickle-down theory and efficient markets. The … Read more
Is an AI Stock Market Crash Coming? For the first time in ages, you didn’t hear this here first. Rumours are swirling about an impending AI stock market crash, and they’ve already reached the pages of The Guardian and the Financial Times. So, what’s going on? The Price-to-Earnings Problem The central issue is the price-to-earnings … Read more
Politicians blur refugees, asylum seekers, immigrants and “illegal” migrants into one debate. The facts tell a different story. Public debate in Britain often collapses refugees, asylum seekers, immigrants and “illegal immigrants” into a single, politically loaded category. The reality is messier. Refugees are already recognised as needing protection. Asylum seekers are waiting for that decision. … Read more
Back in the Premier League — After 3,009 Days Sunderland regeneration and Premier League return is finally a reality — 3,009 days since their last top-flight game. Travel far enough and you’ll find Sunderland fans in bars from Málaga to Malaysia. Not because the club is a global powerhouse like Real Madrid, but because Wearside … Read more
Asylum Seekers and the NHS: Why the Doctor Shortage Claim Falls Apart One of the most common complaints about asylum seekers is that they “put pressure on the NHS,” using up scarce healthcare resources and increasing waiting times for everyone else. It’s an easy claim to fact-check — just look at the numbers. The Numbers … Read more