The Spectator

to 2343: Rats!

From our UK edition

The perimeter quote is by Nietzsche (taking the 1 in the top left corner as the first word). Other unclued lights were anagrams of stars: 18A Vega; 19A red giant; 20A Altair; 27A Castor, 33A nova; 26D Rigel.   First prize Angus Ross, Old Portsmouth, Hampshire Runners-up Mrs R.J.C.

Trotsky’s audacity

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From ‘News of the week’, 16 February 1918: Last Sunday M. Trotsky announced at Brest-Litovsk that Russia would fight no longer, and would demobilize her armies without signing a peace. In a wireless message issued that day he had the audacity to impute the blame for his miserable surrender to ‘the silent co-operation of the English and French “bourgeoisie”’ with the German capitalists, bankers, and landlords. That, of course, is the very reverse of the truth. The Allies would have supported any Russian Government which would fight, but the Anarchists destroyed the Army, and made an armistice without consulting us. They are now reaping the fruits of their folly.

Full text: Boris Johnson’s Brexit speech

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The other day a woman pitched up in my surgery in a state of indignation. The ostensible cause was broadband trouble but it was soon clear – as so often in a constituency surgery – that the real problem was something else. No one was trying to understand her feelings about Brexit. No one was trying to bring her along. She felt so downcast, she said, that she was thinking of leaving the country – to Canada. It wasn’t so much that she wanted to be in the EU; she just didn’t want to be in a Britain that was not in the EU. And I recognised that feeling of grief, and alienation, because in the last 18 months I have heard the same sentiments so often – from friends, from family, from people hailing me abusively in the street – as is their right.

Oxfam scandal: Helen Evans’ Channel 4 interview, full transcript

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HE: I think it was about a year into the role. We were putting in place new reporting procedures [and] training, and the allegations started to come in. And at that point we realised there' had been quite systemic under-reporting and I became concerned about whether we had resources in place to tackle the number of allegations we were getting in.  By 2013/14 it was 39, and it increased significantly after that. CN: You went off for maternity leave, and when you came back in 2014 the number of allegations concerning Oxfam staff overseas really escalated didn't they. So tell us about the sense of scale.

The Germans are right to be suspicious of government manipulation of money markets

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This piece was first published in this week's issue of The Spectator. It is easy to mock the most strident critics of capitalism, like Bernie Sanders and Jeremy Corbyn. It’s harder to ask whether they might actually have a point. Consider the past ten years of evidence. Since the collapse of Lehman Brothers, wages for ordinary workers have been on the floor — even today, the average pay packet in Britain is lower than it was before the crash. The main response to the crisis has been to print money, through quantitative easing and ultra-low rates. This artificially inflates assets. And who benefits? Those who have the most assets: in other words, the very rich.

Barometer | 8 February 2018

From our UK edition

How to sell snake oil Ex-cabinet secretary Lord O’Donnell accused Brexiteers of ‘selling snake oil’. How do you sell snake oil? Some eBay listings: — Original snake oil. £11.99 for 125ml. ‘Natural hair treatment. No chemicals. Feeds the hair and protects from precipitation. Free from alcohol. Country or region of manufacture: Saudi Arabia.’ — Snake oil strengthening hair mask with mamushi snake oil. £25.22 for 500g. ‘The effective remedy of supplementary hair care. The mask is perfect for dry and damaged hair.’ Some listed ingredients: aqua, cetearyl alcohol, paraffinum liquidum, cetrimonium chloride, mamushi oil, parfum’ (no actual snake oil).

Portrait of the week | 8 February 2018

From our UK edition

Home Stagecoach and Virgin could only manage to run the East Coast rail franchise for a few more weeks, Chris Grayling, the Transport Secretary, said, because ‘Stagecoach got its numbers wrong. It overbid.’ To cut 2,000 Royal Marines and the Royal Navy’s two specialist landing ships, a plan considered by the Ministry of Defence, would be ‘militarily illiterate’, the Commons Defence Select Committee said. Northamptonshire County Council gave notice that it would undertake no new expenditure because it expected to be overspent by £21.1 million by the end of this tax year; last year it opened a £53 million headquarters. The government proposed changes in the law that prevents heterosexual couples forming civil partnerships.

A return to normality

From our UK edition

It is easy to mock the most strident critics of capitalism, like Bernie Sanders and Jeremy Corbyn. It’s harder to ask whether they might actually have a point. Consider the past ten years of evidence. Since the collapse of Lehman Brothers, wages for ordinary workers have been on the floor — even today, the average pay packet in Britain is lower than it was before the crash. The main response to the crisis has been to print money, through quantitative easing and ultra-low rates. This artificially inflates assets. And who benefits? Those who have the most assets: in other words, the very rich. Since the crash, the amount of wealth in Britain has risen by more than £4 trillion — almost half of which has accrued to the richest 10 per cent of households.

to 2342: Decorative

From our UK edition

The key terms are ART NOUVEAU (12) and JUGENDSTIL (19). One indicates 24 and 28D, and the other can be divided into JUG (defining 14 and 21), ENDS (31 and 41) and TIL (4 and 22). First prize John Kitchen, Breachwood Green, Herts Runners-up P.D.H.

Donald Trump has a genius for damaging his own reputation

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It’s easy to see why Donald Trump gets angry. He is presiding over a robust economy, growing at the fastest rate of any major economy. His recent tax cut has encouraged jobs and investment to come back to the United States. Apple alone is redirecting an extra $38 billion in tax towards the Treasury’s coffers. Other employers are using the tax cuts to pay workers a bonus: AT&T is handing 200,000 of its staff a payout averaging $1,000 each. There’s so much economic optimism that even Democrat voters say they feel better about the economy than they did under Barack Obama. But Trump isn’t taking much credit. He is still very much blamed — and his approval ratings are still very low, worse than any other President going into his second year.

Barometer | 1 February 2018

From our UK edition

Tight money Ingvar Kamprad, the founder of Ikea, was worth an estimated £40 billion. Yet the eighth richest man in the world drove an old Volvo, flew economy class, bought his clothes in flea markets and had his wife cut his hair to avoid the cost of a barber. Some other wealthy tight-fists: — The oil entrepreneur J. Paul Getty, worth $6 billion when he died in 1976, famously installed a payphone for guests at Sutton Place, his home in Surrey. — Wall Street financier Hetty Green was worth $200 million when she died in 1951. It would have been a little less had she not lived in a small apartment, used charity health clinics (leading, it was said, to the amputation of her son’s leg) and only washing the hems of her dresses to save on soap.

Portrait of the week | 1 February 2018

From our UK edition

Home The EU published its negotiating position on Britain’s period of transition, from 30 March 2019 until 31 December 2020. Britain would have to abide by the rules of the single market, customs union, free movement and decisions of the European Court of Justice, as well as new EU laws. Britain would have no representatives at the table. Jacob Rees-Mogg, the chairman of the European Research Group among the Conservatives, said: ‘This will be the first time since the Norman Conquest the UK has accepted rules imposed by a foreign power without having any say over them.’ The UK economy expanded by a half per cent in the last quarter of 2017 according to the Office for National Statistics, which was better than expected.

Trump vs Trump

From our UK edition

It’s easy to see why Donald Trump gets angry. He is presiding over a robust economy, growing at the fastest rate of any major economy. His recent tax cut has encouraged jobs and investment to come back to the United States. Apple alone is redirecting an extra $38 billion in tax towards the Treasury’s coffers. Other employers are using the tax cuts to pay workers a bonus: AT&T is handing 200,000 of its staff a payout averaging $1,000 each. There’s so much economic optimism that even Democrat voters say they feel better about the economy than they did under Barack Obama. But Trump isn’t taking much credit. He is still very much blamed — and his approval ratings are still very low, worse than any other President going into his second year.

Could Michael Gove be the one to fix Britain’s tax problems?

From our UK edition

Sir:  Sir James Dyson is right (Letters, 20 January). We need big farming; that is where our food comes from. But the elephant in the room is tax — inheritance tax and roll-over relief — which of course he conveniently skirts. Farming at this level needs subsidy precisely because land is too expensive for food production to give an economic return through income. And why is this? Because so much money chases land for tax reasons.  The massive distortion of the allocation of capital due to tax reliefs is one of the fundamental problems of the UK. The solution is not more tax, it is to reduce tax to a level so that the economic case , not tax, drives decisions; and then remove reliefs.

Donald Trump’s interview with Piers Morgan: full transcript

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PM: Mr President, how are you? DT: I'm good thank you, Piers. PM: It's been a while! DT: It has, since you became my Champion on the Apprentice. PM: Well that was 10 years ago. DT: Can you believe it? It's a long time but I appreciate all the nice things you've said, and every once in a while a hit, but that's OK. PM: I always say that you don't mind criticism if it's not hysterical. DT: That's true. PM: You don't mind listening to criticism, do you? DT: That's true. No I don't, if it's real. If it's fake, I don't like it. I mean when they give you false stories, and there's so much of it in the media, but you've always been very fair. And you really are a talented guy.