Fraser Nelson is a Times columnist and a former editor of The Spectator.
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James Purnell is the welfare and pensions secretary – the title ‘work and pensions’ is a bit of a euphemism. Britain isn’t a planned economy, the government doesn’t set employment levels, so the ‘jobs summit’ today is based on a false premise. We ain’t Cuba. Yet Brown wants to play up to the narrative that
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Gordon Brown’s trick is setting the parameters of debate, and fooling the opposition into accepting them. And in the next few weeks, he has a mission: to define the Obama bailout for the British media. He must teach them to see it as a Brown-style stimulus – thus allowing him to be quoted, without criticism,
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Even though it’s deemed America’s second most influential book, there are plenty in Britain who haven’t heard of Atlas Shrugged – or Ayn Rand, its Russian-born author who had such a profound impact on American conservatism. Now is a very good time to read it, because – as Stephen Moore argues in the Journal today
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More defections from Tory HQ: Natalie Kirby, Cameron’s assistant head of media, is off to run the press at….. McDonald’s UK. Before Coffee Housers snigger, I’d like to point out that McDonald’s corporate debt has a lower risk rating than UK government bonds, so the markets are in no doubt about which is the dodgier
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As expected, base rates are down half a point to 1.5% – so, yet again, drinks are on those lucky few with variable mortgages. I suspect they’ll hit 1% before Easter. Then what? “Nobody is talking about printing money” says Alistair Darling – but this is a little Brownie. Quantitative Easing – the equivalent of
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Ed Balls never gets enough credit for the Brownies that he cooks up. One was served today, when he spent an interview with the Beeb denouncing those Tory plans to axe 220,000 apprenticeships. As he put it: “There is a choice for our country – a choice between a Government which says we must act
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With neither Labour nor the Tories saying much about Israel, Nick Clegg spotted an opportunity in venting outrage today. His party love it – but a little too much. Here is an extract from the blog of Chris Davies, a Libdem MEP: “It is time for Liberal Democrats to call a halt to the attempt
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The VAT cut may have been economically and electorally irrelevant, but might all these interest rate cuts deliver for Gordon Brown? History will be made tomorrow when the Bank of England cuts rates to the lowest in its 315-year history – probably by half a point, to 1.5%. And even that will probably fall to
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Only when Tony Blair popped up on the airwaves did it become clear just how different it is this time. Israel is again at war — yet, unlike 2006 there are no MPs clamouring for Parliament to be recalled. There is no Prime Minister who regards himself as a peacemaker offering his opinion to the
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As Waterford Wedgwood goes bust and its obituaries written, it’s worth noting its contribution to an area for where it gets little credit: outlawing the slave trade. Much rot is spoken about the abolition campaign, mainly due to the vanity of MPs who like to portray it as the result of a parliamentary initiative. Rather,
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Like James, I applauded Cameron’s tax-cutting plan – the right cut, in the right direction, for the right people. But there is one slight hitch. It is promised only if there’s an election this year. The 2009-10 budget starts in April, by which time Cameron probably wont be in power. If there’s an election next
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Will anyone take Gordon Brown’s claim to create up to 100,000 jobs seriously? As a statistician will tell you, “up to” includes the number zero. And as any economist will tell you, government can’t create jobs. The best it can do is move jobs, from the private to the public sector via tax – or
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I’m fairly pessimistic about the prospects for sterling – or the GBPeso as some CoffeeHousers have dubbed it. But as a counterbalance to the stuff I’ve been posting recently, here is a forecast from Royal Bank of Scotland which reckons sterling has been oversold, the turning point has arrived and that we will be able
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No.10 has come up with an ingenious solution to what could have been a yearly presentational problem: to have Gordon Brown’s New Year’s Message as a disembodied voice, with no video at all. You can listen to it here. And that voice observes that an “old era of unbridled free market dogma was finally ushered
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Another day, another plunge for sterling – it’s at E1.022 and the slide shows no sign of tailing off. The world is beginning to worry that the kids are running the sweet shop in the British economy – and that mum has gone to Iceland. Well, not quite, but the Reykjavik-on-Thames scenario – while still
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When David Cameron agreed last June to let his chief strategist work from California for six months, it seemed a timely break from what was threatening to become a dull job. Gordon Brown looked finished, and his party too weak to depose him. British politics threatened to be a comedy of errors stumbling on until
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As Matt says in his column today, only fools or knaves make predictions nowadays. So it’s with the caveat that prediction is a mug’s game that I make an A-Z of predictions for 2009 in my News of the World column today. Having said that, it’s by no means a pointless exercise to say how
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I said that Gordon Brown’s VAT cut was too small to notice – yet I have just saved £15 on furniture imports from Bali. Of course, £15 is a serious, noticeable amount of money. Problem is, it only helps people who have £600 to fork out on furniture. And here this is another defect of
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It’s not just the Germans. The IMF today has poured scorn on Gordon Brown’s useless VAT cut for reasons that any corner shop owner could have explained to the Prime Minister. Here is what Olivier Blanchard, the IMF chief economist, said today. “Temporarily cutting VAT, a measure that was adopted in Great Britain, does not
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Is biofuel a cause worth dying for? Or, more specifically, is the West so sold on the idea that we’re willing to let the poor starve as we fill our cars with the grain it would take to feed a man for nine months? This FAO report from the United Nations counts the damage: 75