This week’s column starts with me in a Porsche Taycan on the M40 and ends with a joke about Christ’s foreskin | Jeremy Clarkson, patron saint of the Great British bore
"You could say to young people: 'Right we'll knock a bit off your student loan debt if you come and take part.'"
Sir David Lidington expresses the need for both 'a stick' and 'a carrot' to draw young people into conscription, and makes some suggestions himself.
Job news: I'm taking over The Economist's British politics column, Bagehot, from January. Please get in touch and tell me things about British politics.
HS2 was/is amazingly bad at framing the costs of the project. It was a few billion a year over a few decades. Gov budget is about £1,000bn or so. In household terms, it's roughly equivalent of a Netflix sub for the year.
A train named after Sir Captain Tom Moore was stuck for two hours after it hit a trampoline just outside of Cardiff Central station.
It comes as amber weather warnings are issued across the country for
#StormDudley
.
Follow live updates:
There is this insane idea in British politics that if you cut the biscuit budget enough and force your chancellor to stay in Il Premiere Inn, you will have enough cash left over to fund Our NHS
🚨 Exclusive: Grant Shapps was forced to abandon a trip to Odesa after British intelligence revealed there was a credible threat he could be targeted in a Russian missile strike
I spent three days embedded with his team in Ukraine - here is what I found:
This week’s column: UKSA! UKSA! UKSA!
Westminster’s obsession with America leads to bad policy, silly economics, dull conversation and homogeneous bookshelves
Better yet: throw open student loans to all young people. Everyone gets £30k, with less usurious rate, to spend how they please. You wanna go to university, buy a house, go travelling, start a business? Go for it.
Incredibly easy for businesses to ignore laws in Britain. National minimum wage barely enforced. Sweat shops in plain sight. Dodgy sweet shops on premier shopping streets. Hand car washes seen as amusing productivity problem rather than law-breaking
One of the most striking charts here on the incredibly weak enforcement of the minimum wage
Today's report suggests the detection rate for min wage underpayment is no higher than 13% putting the entire system deep in the red zone. No incentive for employers to comply
Fun angle is that little has changed. The by-elections are just confirmation of Labour’s big, consistent lead in the polls (which has been solid for a year now). But the excuses for ignoring that poll lead have now disappeared
The perversity of all this is that if the UK had more gas storage this would be an ideal time to replenish it, locking away the gas ahead of a grim winter. Instead, we retired our biggest storage reservoir a few years ago and have next to no space to put all this cheap gas
IFS's
@PJTheEconomist
on
@TimesRadio
on HS2:
"This whole thing makes me want to weep... it makes me despair. The original sin was agreeing to do it in the first place."
But he says having started it, should look at added value of connecting to Euston+Manc, otherwise more waste
Easy to forget that most of the bad stuff hasn't happened yet, from a consumer perspective. Boilers yet to be switched on; new mortgage bill yet to be locked in; effect of inflation won't properly be felt until the annual payrise fails to make up for it...
Writing about false economies in the British state. What’s your favourite example? Big or small. From no tea and biscuits for civil service to banjaxing the NHS by not funding social care
"Sunak stayed in the five-star Hotel Danieli in Venice when attending the G20 meeting of finance ministers in July 2021 as chancellor, with more than £4,500 spent on accommodation for Sunak and his aides." This is pointless tight-fistedness.
Nick Clegg promoted at Meta (Facebook). Will now be president of global affairs, was previously vice-president.
This puts him at the very top table with Zuckerberg and Sandberg, demonstrates how central a figure he's become.
Seeing "Network North" start to unravel is good for my theory that infrastructure budgets aren't really fungible. It's the politics that's hard, not the money.
Tabloids a fine example of unpopulism. They maintain influence because they shape elite opinion - among ministers and the BBC - not because they speak for the people, who no longer buy them. (Favourite troll stat: Britain's most popular red top is now The Economist.)
Seems like an odd time for the Government to put its new Vaccine Manufacturing Innovation Centre up for sale.
“Things are tight and so they’re looking for a way to recoup some of the [£215m] cost.” 🤔🤔🤔
Extra taxes for average zoomers. If this goes through a 25 year old grad on 25k faces marginal de facto tax rate of 40ish%. 69 year old doing same job would pay 20%
Exclusive: The threshold above which graduates have to pay back student loans is set to be lowered by the Gov.
Currently £27k. Ministers looking at £25k or as low as £22k. Announced within weeks. Would save Treasury billions… but squeeze grads further.
Cranking up National Insurance under Brown (and now Sunak) rather than just raising normal tax was a massive error. It's just an unfair income tax (pensioners don't pay it, while very rich stop paying it) and people think it's a pot of money with their name on it.
Britain has a shadow tax system. So headline rates are still a bit below European peers, while real rates are same/higher when things like tuition fees or childcare - which are provided free, or subsidised elsewhere - are included.
My favourite dumb policy idea is just letting every 18 year old borrow 60k from the government, which they can spend on whatever they like. Uni? A business? A big holiday? Whatever they want
Americans often mock Europe for not embracing air conditioning, despite our summers becoming hotter annually.
Turns out the London Plan specifically warns local planning authorities against permitting air conditioning systems in new developments.
Crazy stuff
Raab: “There was speculation that the May 20 party was held in my honour to thank me, it’s just ridiculous.”
@KayBurley
: So it was a party!
“No, exactly, er, no, er, the, no no no no. This is the claim that was made, it was nonsense, I wasn’t invited and I didn’t attend.”