Ross Clark is a leader writer and columnist who has written for The Spectator for three decades. His books include Not Zero, The Road to Southend Pier, and Far From EUtopia: Why Europe is failing and Britain could do better
To nobody’s surprise, the Bank of England has hiked its base rate, and, equally unsurprisingly, it has chosen to do so by a relatively modest 0.25 per cent, bringing rates to 1.25 per cent. In 25 years of its existence, the Monetary Policy Committee (MPC) has never raised rates by more than 0.25 per cent
Ukraine’s ability to defend itself against the Russian invasion has surprised almost everyone outside the country, none more so, presumably, than Vladimir Putin. As for the West’s efforts to harm Russia through sanctions on its fossil fuel exports, that is a very different matter. Sanctions have not been entirely useless. According to a report by
First the good news: the Office for National Statistics figures released today show that pay is rising at its fastest rate in two decades, with regular pay up by 4.2 per cent in the three months for February to April compared with a year earlier. Now the bad news: such is inflation that, in real
Should we cover Britain with greenhouses so that we can be self-sufficient in tomatoes? That seems to be the latest thrust of the government’s see-sawing farming, environment and food policy. Government advisers appear to have been looking longingly across the North Sea to the Netherlands, which has become one of Europe’s leading salad producers thanks
Could Rishi Sunak really have saved the taxpayer £11 billion by insuring against higher interest rates last year? That was the extraordinary claim made by the National Institute of Economic and Social Research (NIESR) and in the Financial Times on Friday. The NIESR claims that the government could have saved the money had the Chancellor
Does Boris Johnson have the faintest idea what he and his government are trying to achieve anymore? I ask because of the Prime Minister’s ‘grow for Britain’ strategy which has been leaked to the Daily Telegraph. The strategy, due to be launched on Monday, apparently demands that farmers grow more fruit and vegetables to make
As if Boris Johnson was not in enough political trouble already, the latest surge in oil prices is threatening to overwhelm the government. This week, petrol prices in some filling stations have crossed the symbolic threshold of £2 per litre. This would be a problem for any government, but, for a Conservative administration which owes
It isn’t hard to understand why the government should want to revive the spirit of Margaret Thatcher’s right-to-buy, which was credited for creating a whole new class of homeowners – and in the process Conservative voters. While the right to buy has never gone away – and survived the Blair and Brown years – it
In what other industry could demand collapse by a tenth and yet the staff still think that they have a right to an above inflation pay rise and no job losses? Rail privatisation was supposed to put an end to union militancy and to relieve taxpayers of the financial risk of running the railways. Patently,
Who could argue with the words of the EU’s internal market commissioner Thierry Breton when he says: ‘a common charger is common sense for the many electronic devices in our daily lives’? No longer, it seems, will we have to fiddle around with several different cables, and curse when we have brought the along the
There is a school of thought, expressed by Fraser Nelson here this morning, that the Prime Minister’s Tory opponents have shot their bolt too soon, that they should have waited for a couple of by-election defeats and for the emergence of a clear front-runner to replace Boris Johnson, before sending in their letters of no
How disappointing. Come Jubilee time and the Guardian can usually be relied upon to lead the way in publishing sour pieces moaning about ‘jingoism’, attacking the extravagance of a royal procession and trying to claim that the people who turn up to watch and join in with the celebrations are somehow outnumbered by people who
When Putin’s tanks rolled into Ukraine on 24 February there was a conceit that this might be the first war which the West could fight – and win – by sanctions alone. The EU’s latest efforts to stop importing Russian oil show just what a folly this was. Donations of military equipment to Ukraine are
Let’s be honest: is there anyone out there who has faith in the ability of the World Health Organisation (WHO) to tackle a future pandemic? Any lingering hope that the WHO might be an organisation fit to be trusted with global heath concerns has pretty well evaporated with the election, by acclamation, of China as
Imagine if we gave the rail unions what they really wanted, and renationalised the railways. Would they then leave us alone and get on quietly with the job of driving trains, clipping tickets and so on? Like hell they would. Thankfully, Nicola Sturgeon has just tried this very human experiment, so that the Westminster government
Ah, well, it was a lovely idea, born of the age of liberal-democratic triumphalism that was the 1990s: the ‘Golden Arches theory’, which held that no two countries that had McDonald’s franchises had ever been – or would ever go – to war. Remarkably, it wasn’t the product of McDonald’s PR department but the work
What an heroic stand for freedom and justice Jacob Rees-Mogg has just made by criticising the system of Fixed Penalty Notices (FPNs). According to the Brexit Opportunities minister, the reason this form of summary justice “goes against British tradition” is that an FPN “assumes you are guilty until proven innocent because you have to go
First, the good news: US inflation is down. Now the bad news: US inflation isn’t down by as much as a lot of people were expecting. Cue quite a lot of confusion on the markets. First, the S&P 500 plunged by 0.5 per cent, then it rose by 1 per cent, then it was more
Is this the end of climate activism from pension providers and other institutional investors? BlackRock, which manages $10 trillion in assets, has toned down its enthusiasm for blocking company boards that are not sufficiently committed to a carbon-free future. In January 2020, BlackRock’s CEO Larry Fink shook up the world of investment by writing an
Just when you thought Prince Harry’s post-royal career couldn’t get any more absurd, he manages to make it so. His latest venture is a service which supposedly tells you how many carbon emissions will be emitted as a result of an airline passenger’s journey by various airlines and routes – helping travellers choose the most
