Society

The Euro’s badly-needed reform could finally be on the cards

Has Germany finally started to shift its position on the future of the Eurozone? Speaking today, at a conference for the German equivalent of the CBI, Chancellor Angela Merkel appeared to open the door to a new form of governance for the 19-country bloc. Since the financial crisis, the common currency zone has bounced from crisis to crisis, surviving by kicking the can down the road at each critical moment. It has long been obvious that major institutional changes were required to ensure the currency’s long-term viability. During the recent French presidential election campaign, the euro was an important political issue: Marine Le Pen proposed restoring the French franc (albeit in parallel

If payday loans are evil why can’t we come up with anything better?

There’s never been a better time to borrow money. Mortgages pegged at 1.29 per cent, 2.7 per cent personal loans, and 29-month interest free balance transfer cards are no longer the stuff of our credit-filled dreams. But the cost of short-term loans has remained stubbornly high. We’re in the midst of a cheap credit bonanza, and yet the poorest and most marginalised continue to pay the most – a challenge that the industry seems unable to tackle. Often dubbed alternative or fringe lending, in 21st century Britain the fringe has become really pretty big. A 2016 Money Advice Service study found that more than 16 million people had less than

Spend your pension pot wisely

There was an almighty hoo-ha when George Osborne introduced pension freedoms. In the biggest change to pensions in a generation, anyone aged 55 and over is now allowed to take their entire pension pot as a lump sum, paying no tax on the first 25 per cent and the rest taxed as if it were a salary at their income tax rate. I was among the naysayers and one of those who thought the then Chancellor was absolutely bananas for implementing the new rules. The temptation to blow the lot on a round-the-world cruise or a fancy car must be overwhelming, and falling back on the State in later years

Please can the bullying of Theresa May stop?

We all remember it from school, whether as perpetrator, or assistant of perpetrator, or victim: the moment when everyone turns against another pupil and it becomes legitimate to be vile to her. When she is ‘down’, it becomes more and more enjoyable to torture her and to find endless new aspects of her to be woundingly vicious about, every hour of every day. It has been like this for Theresa May in the last week. She’s the outcast in the playground, knowing that if she so much as opens her mouth to say something, she’ll receive a torrent of withering sarcasm. Please can it stop? It leaves a nasty taste

Finsbury Park attack: We need a consistent response to terror

So it seems that it has happened again. A third terrorist attack in as many months on London’s streets. Once again using a vehicle. Once again aimed at Londoners. Except that this time it seems the terrorist himself is not a follower of Isis. Indeed, reports suggest that the attacker may have been a non-Muslim deliberately targeting Muslims. On top of whatever other extremist motivations this attacker may have had, he was also unwittingly doing the work of Isis and similar groups. For if the attack in Finsbury Park was indeed aimed at Muslim worshippers as they were leaving their Mosque then this is exactly the sort of despicable attack

How to avoid a holiday from hell

As the UK basks in beautiful sunshine, it’s tempting to abandon all thoughts of a holiday abroad and opt for a staycation. But we all know the vagaries of British weather. It’ll probably be raining tomorrow. With this in mind, the financial information company Defaqto has taken a close look at potential nightmare holiday scenarios – and has advice on how to avoid them. We all want a stress-free summer break but even the best-laid plans can go awry. That’s where a comprehensive travel insurance policy is vital. But according to Defaqto, of the 918 single trip and 943 annual policies on the market, cover for those unpleasant holiday experiences varies

Home ownership fall is driving wealth inequality

Consider this: 1 per cent of adults own 14 per cent of the nation’s assets. That’s some 488,000 people in ownership of about £11 trillion. At the other end of the financial scale, 15 per cent – 7.3 million people – either own no assets at all, or are in debt. It’s safe to say this throws the UK’s wealth inequality into stark relief. These new figures come courtesy of the Resolution Foundation thinktank which attributes them to a reversal of the spreading of property wealth across Britain in the mid-1990s and mid-2000s. Essentially, the fall in home ownership is fuelling the return of increasing wealth inequality across the country. Conor D’Arcy,

Spectator competition winners: a song for Europe

This week you were invited to fill a gap by providing lyrics for the European anthem. The powers that be behind the anthem, which has as its melody the final movement of Beethoven’s Symphony No. 9, chose to dispense with Friedrich von Schiller’s words. ‘There are no words to the anthem; it consists of music only,’ says the EU website, in bold type. My request for suitable words elicited an absorbing, inventive postbag. I wondered if anyone might revisit Schiller’s 1785 ‘Ode to Joy’ and repurpose the following lines: ‘Yea, if any hold in keeping/ Only one heart all his own/ Let him join us, or else weeping/ Steal from

Freddy Gray

Corbyn copy: Why Jeremy and Trump are (almost) the same

Since the election, Jeremy Corbyn has been parading himself as prime-minister-in-waiting. ‘Cancellation of President Trump’s State Visit is welcome,’ he tweeted this week, ‘especially after his attack on London’s Mayor and withdrawal from #ParisClimateDeal.’ The message was clear: unlike ‘Theresa the appeaser’, Jeremy is willing and able to tell that climate change-denying Islamophobe across the water to get stuffed. Jez we can, Jez we can. There may be another reason why Corbyn is glad to think that Trump might not come to these shores, and that’s because the more the British see of the dreaded Donald, the more they might recognise how much he and the Labour leader have in

No, the election was not a rebellion against Brexit – or ‘austerity’

The lessons to be learned from the Conservatives’ poor showing in the election could fill more pages than the national curriculum. Don’t unleash on the public a manifesto which has not even been tested among senior ministers. Don’t think you can get through a seven-week election campaign by endlessly repeating the same mantra, especially when you are being ridiculed for it. Don’t underestimate how quickly public opinion can change. Sell yourself, your party and its ideas, rather than just attacking your opponent. Yet there is a serious danger that Theresa May and the rest of the Tory party could pick up the wrong message. There is a growing narrative that

Fraser Nelson

Those who died at Grenfell Tower were the victims of bad government

Had the Grenfell Tower tragedy befallen one of the millionaire high-rises built along the Thames recently, it would still be a catastrophe that shocked the country and the world. But what makes this disaster so numbing and sickening is to see, in the faces of the dead, some of the most vulnerable people in our society. People who were, in effect, in the care of the state – that is to say, in our collective care. If we pay taxes and vote, we’re part of a system that’s supposed to devote the greatest attention to those in greatest need of government help. And on Tuesday night, dozens of them were

Fraud hotspots revealed by Which?

Norfolk is the dating fraud capital of England and Wales, Surrey is the hotspot for investment scams, and mid-Wales suffers cold calling computer cons. That’s according to new analysis by Which?. Using the Freedom of Information Act, Which? collated thousands of fraud reports from Action Fraud, the main reporting body for UK fraud. The data also reveals Dorset as the capital of computer virus, malware and spyware scams, while Northamptonshire is the capital for online shopping and auction fraud reports. Elsewhere, Dyfed-Powys was the capital for computer-repair fraud reports. In this type of scam, a fraudster phones pretending there’s a fault with your computer and then demands a fee for fixing it.

Stavanger

The powerful tournament in Stavanger, Norway, draws to a close at the end of this week. World champion Magnus Carlsen dominated the blitz event which preceded the main competition. Sadly for the home crowd, Carlsen got off to a very bad start in the classical time limits competition that followed, with the energetic American grandmaster Hikaru Nakamura seizing the leading role. Here are some key extracts from play.   Aronian–Carlsen: Norway Chess, Stavanger 2017 (see diagram 1)   In this tense situation, where White has a mass of pawns in exchange for a bishop, Carlsen conceives of a plausible defensive plan to resurrect his dormant bishop and ferry it round

High life | 15 June 2017

I was busy explaining to a 23-year-old American girl by the name of Jennifer why the election result was not a disaster. She is a Spectator reader and wants to work in England, preferably in politics. She called the result the worst news since her father had abandoned her mother. I begged to differ. Actually, it was a far better result than it would have been had the Conservatives won a majority of 100, I told her. She gasped in disbelief, but soon enough she was hooked. Do not be alarmed, dear readers. I have not taken LSD. Nor am I suffering from populist-nationalist rage at global elites and starting

Low life | 15 June 2017

French supermarket cashiers won’t be hurried. Nor will their customers, many of whom seem caught out by a bill at the end, then laboriously write out a cheque. This might be a contrarian French anti-capitalist attitude (‘no, Monsieur: time is not money’),   which is wholly admirable, of course, except when I’m in a tearing hurry and waiting to pay. While the pensioner in front of me fruitlessly riffled through her handbag for her chequebook for the third time, I stared out of the window and was instantly rewarded by the sight of a Fiat reversing into the rear of a parked Citroën. Wallop! The drivers leapt out to view the

Real life | 15 June 2017

And so, as it must, the pilgrimage to find a local GP surgery begins. This is a great British tradition, and I have been honoured in my lifetime to have taken part in many and varied official registerings at different NHS surgeries. Having been ceremoniously relieved of my first GP in London, and invited to find another one because they had redrawn the boundaries, last year I was on the road again after they closed the second one down. I found myself at a surgery on a sink estate where the first language — and indeed the second, third and fourth languages — appeared not to be British and where

Bridge | 15 June 2017

How is it possible to be assigned four ‘away’ matches on the trot? Strange, but that’s how it was for my Young Chelsea team, competing in the National Inter-Club Knockout: lots of driving down country lanes in Essex or Buckinghamshire in the gloaming, seeking out our opponents’ houses. At last, when it came to Round 5, we were assigned our first home match. We popped down the road to play — and were promptly knocked out by Tunbridge Wells. They had a strong team (Espen Erichsen and Norman Selway among them), but then we did too (Phil King and Mike Bell), so it was a blow — especially as I’ve

Toby Young

Nick’s a visionary – he deserves a second chance

I first met Nick Timothy in July 2015. He had just been appointed director of New Schools Network, the free schools charity I now run, and wanted to talk about the future of the policy. He has been portrayed in the media in the past week as a right-wing thug, as well as a swivel-eyed Brexiteer, but that wasn’t the impression he gave as he sipped his builders’ tea. On the contrary, he was trying to think of ways to weaken the association between free schools and the Tory party, particularly within the education sector. His mission, he explained, was to create cross-party support for the policy by setting up