Labour party

The Vickers’ report into banks will land on the Prime Minister’s desk tomorrow. It goes to the banks very early on Monday morning before being published later that day. The thing to watch for is how politicians react to it. We know that the report will propose some kind of ring fence. But what we do not know is how strict the ring fence will be and how quickly Vickers will want it implemented. As Robert Peston says the impact of the ring fence on the banks’ creditworthiness will be felt long before the actual ring fence comes into effect. Intriguingly, Ed Miliband is giving a speech to the TUC that day. This gives him a platform to call for the immediate implementation of the whole report.

For those of you who missed the public outing of Peter Mandelson: The Real PM, the remarkably revealing, fly-on-the-turd psychomentary by the gloriously talented Hannah Rothschild, don’t despair, the boy will be back in town on DVD in full Slimeorama on 19th September. As I’ve already reviewed the show for this blog, the good and the great thought it would be a bit of a wheeze if I had a quick chat with Hannah over the phone. Now that was a shame, because lunch would have been much more fun, as Hannah was bubbly, mischievous and a Vesuvius of high grade gossip. She is so utterly disarming I can understand why Mandelson agreed to bare all (well, not all, thank God).

If it is GCSE results day, there must be a row about government education policy. True to form, the NASUWT — a union whose role often appears to be to make the NUT look moderate by comparison — has come out with a comically hyperbolic statement accusing the coalition of a ‘betrayal of young people’ because of its decision to reform the educational maintenance allowance. What the NASUWT statement ignores is that the real betrayal of young people has been pushing them into doing courses and qualifications that condemn them to a life of low-skilled labour at best. Last year, only 16 per cent of pupils achieved a C or above in English, Maths, a foreign language, a science and one of history of geography.

The Prince of Darkness has made a rare foray into the light of public life. He uses an article in today's Times (£) to do a little waspish mischief about the coalition and the Liberal Democrats. He writes: ‘The Lib Dems are beginning to behave like an internal opposition. Staking out positions in the media, drawing public lines in the sand and making threatening noises when something is not to their liking is not the way to address their political problems of the past year. These led to their trouncing in the May elections and the AV referendum.

Last week, George Osborne boasted that Britain has the second-fastest job creation in the G7. In tomorrow's Spectator, we disclose official figures showing that 154 per cent of the employment increase can be accounted for by foreign-born workers. We on Coffee House have often questioned Labour's record: 99.9 per cent of the rise in employment was accounted for by foreign-born workers. The graphs for the Labour years and the coalition year are below:     The idea of 154 per cent is strange, so I will reproduce the raw figures below:     Now, no one outside Westminster expects the UK labour market to change the day a new government is elected, but what matters is that the problem still exists.

Even by the normal standards of Monday mornings, this one reeks. Just sniff around you. That burning smell, it's either coming from the global stock markets as they strain against the US downgrade, or from those places in London where the rioting spread last night. Although the destruction in Brixton, Enfield, Walthamstow and Waltham Forest didn't match up to that on Saturday in Tottenham, it still involved fires, missiles and clashes between rioters and the police. Reading the reports and watching the footage online, looting appears to have been one of the most popular sports of the evening. In terms of the short-term politics — as opposed to the slightly more medium-term politics of what can be done to properly fix these problems — two issues stand out.