All the latest analysis of the day's news and stories
The headline measure in the Vickers Review—the need for a ring fence between retail and investment banking—should not harm the City’s global competitiveness as it only applies to banks with a UK retail operation. For everyone else, Vickers would leave London as a relatively good place to do business: far more certain than Hong Kong
The most extraordinary row has broken out after the Prime Minister appeared to suggest that Oxford University has a racist admissions policy. He today said that, “I saw figures the other day that showed that only one black person went to Oxford last year. I think that is disgraceful.” But the university has since hit
Rarely has a production of The Tempest been as bleak, powerful and urgent as this. The drama is often billed as Shakespeare’s last play, a retiree’s lyrical contemplation of the need for redemption and reconciliation in the later ages of man. The more we learn about Shakespeare’s later career as a collaborator with John Fletcher,
“I have to accept my responsibility.” Who would have thought that Gordon Brown would ever breathe those words, let alone breathe them to a conference in America over the weekend? Our former PM has, it’s true, suggested that his regulatory system was inadequate to the financial crash before now. But here he was much more
Ignore what your council is telling you. So says no less a personage than the Prime Minister of our country, speaking at one of his freewheelin’ roadshow events this afternoon. Cameron may have been referring specifically to the red tape being wrapped around Royal Wedding street parties, but it’s still a pretty pugnacious point for
The Vickers Review into the future of banking appears to have prevented a possible coalition row. The Tories and the Liberal Democrats have had different views on what to do about the banks, with the Lib Dems keener to break up the banks come what may and the Tories more worried about preserving the competitiveness
Welcome to the latest CoffeeHousers’ Wall. For those who haven’t come across the Wall before, it’s a post we put up each Monday, on which – providing your writing isn’t libellous, crammed with swearing, or offensive to common decency – you’ll be able to say whatever you like in the comments section. There is no
Labour’s cartography department has been hard at work all weekend to produce this. It is, lest you haven’t heard Yvette Cooper today, an “interactive web-map” of the job losses announced by police forces so far, all across the country. You can interact with it in ways that include clicking to view a larger version. So
…here are some posts made on Spectator.co.uk over the weekend: Fraser Nelson says that George Osborne needs to make his case for growth, and reviews Niall Ferguson’s latest triumph. Peter Hoskin reports on the latest recommendations from the Vickers Banking Commission, and compares the politics of debt in the UK and in the US. Daniel
Just because Nicolas Sarkozy believes something does not make it untrue. The French president was adamant that Nato shouldn’t take over the Libya campaign. He preferred to run an ad hoc coalition of the willing. Britain, however, was keen for the alliance to take control of a mission that seemed too loosely-organised. Once the United
We really oughtn’t let the weekend pass without some mention of political events across the Atlantic. As you’ve probably heard, a US government shutdown was avoided on Friday evening, and all thanks to a budget compromise which saw Barack Obama slash a cool $38 billion from his spending plans. Although the debate over who has
We’ll try to get the video later, but, for now, a transcript of Norman Lamb’s appearance on the Politics Show will have to do (UPDATE: video added above). Here we had a very unusual political moment: an assistant whip, and adviser to Nick Clegg, not only calling for changes to government policy, but also threatening
The Rolling Stones have a credibility problem. It’s nothing to do with their longevity or their wealth. It’s to do with their lead singer. Granted, he is a great frontman with a distinctive voice — but his strutting persona and his dancing-by-numbers gives the impression of a politician going through the gears in a speech to the
Pause, listen, engage and … push back. That just about sums up Andrew Lansley’s article for the Sunday Express today, as well as the government’s general effort to reconstruct and repackage its shaky NHS reforms. Which is to say, the Health Secretary makes sure to mix reassurance (“There is no more important institution in this
As a general rule if you’re minded to burn books you’re probably trotting along the road towards losing whatever argument you may be having. You also look a fool. That was true of the nutters who burned The Satanic Verses and it’s true of Terry Jones and true of this chap too: A senior member
Brother Korski is right to draw attention to Rachel Sylvester’s interview (£) with Unite’s Len McCluskey and right too to note that his defence of Castro’s island gulag* is indefensible. But there’s more that’s wrong with it than that and not all of that is McCluskey’s fault. Consider these lines: He would choose tea and
Andrew Tyrie promised that the Treasury Select Committee would be an assertive, insistent body under his stewardship — and he hasn’t disappointed so far. The committee’s recent evidence sessions have been fiery affairs, particularly by the usual standards of these things. And today they have released the result: an extensive and prescriptive report into last
I worry that Coffee House sometimes fails to enrage readers sufficiently, so let me run a scenario past you, suggested to me by Rafael Behr, the Observer’s brilliant leader writer. The AV referendum is going to be the oddest vote. Turnout will be low, but how low will depend on where you live. Scotland, Northern
I have always thought “nudge” theory was an absurd excuse for a political ideology: just another way of arguing against state intervention. But Nick Clegg has almost forced me to eat my words with his comments about free internships. The Deputy Prime Minister has probably done more in one speech to improve the conditions of
Sometimes, just when you think that the craziest left-wing ideologues have gone off to tend to their gardens, up one pops. Meet Len McCluskey, the head of Unite, who tells The Times’s Rachel Sylvester (£) that Fidel Castro has been a “heroic” leader of his people. That would be the same Cuban dictator who jails
The Guardian have an odd story today. “Business chiefs who backed cuts now doubt UK growth,” runs the headline — suggesting that these sinners are now being confronted with the error of their own ideology. Who are the business chiefs? We have Archie Norman, the retired head of Asda, now part-time chairman of ITV. He
When is a split not a split? When it’s a subsidiary, of course. We learn this morning that the Vickers Banking Commission will not recommend a complete, Glass-Steagall-style separation of retail and investment activities. But it will advise that banks erect some sort of barrier between the two, to ensure that everyday savers’ (and taxpayers’)
13 years ago, The Spectator carried an interview with Nigel Lawson in which he gave his views on the EU’s Economic and Monetary Union – views that seem especially prophetic today. ‘It’s going to be very nasty’, Christopher Fildes, The Spectator 2 May 1998 The Nigel Lawson Diet now seems to suit its inventor. Gone
As Portugal bites the dust – following Ireland and Greece in asking for an EU bail-out – the most important question is still not being asked by EU policy-makers, or by the British government for that matter: will a bail-out actually solve any of Portugal’s problems? The simple answer is, it won’t. Asking the European
Here is a selection of posts made at Spectator.co.uk over the last week. Fraser Nelson calls for the schools revolution to be reinforced. James Forsyth lists the runners and riders in a possible reshuffle, and wonders why Clegg didn’t complain about Lansley’s reforms earlier. Peter Hoskin reveals who has won and who has lost, and
The Ministry of Defence is Whitehall’s last monolith. Charged with the nation’s defence, it is powerful enough to challenge the Treasury. As Pete notes, there are signs that it’s trying to defer (if not avoid) the cuts laid out the punishing strategic defence and security review. It has many ways of doing this. Obviously it
The American academic and foreign policy realist Stephen Walt has put an interesting idea on his blog: would re-introducing the draft make America less interventionist? Perhaps it would, and perhaps there’s a good case to be made for doing the same in Britain. Calling for a return to conscription might sound like a silly right-wing
Developments aplenty on the Portuguese front — the most noteworthy being that Britain is probably in for a €4.8 billion share of the €80 billion tab. Robert Peston explains the numbers here, although it basically comes down to the lending mechanisms that will be deployed. Add up our 13.5 per cent exposure to the European
Author Alison Pargeter picks up the debate about Libya and al Qaeda in this morning’s Times (£), dismissing the idea that a new “jihadist hotspot” is being created. As I wrote some time ago, it is difficult even for people who have travelled in eastern Libya to know anything for sure. I hear from sources
As one famous artist vanished in Beijing, another appeared. Bob Dylan has begun a tour of China in the same week as Ai Weiwei became the most prominent victim of Beijing’s current repression drive. Ai has been unlawfully incarcerated for what the authorities describe as ‘economic crimes’, and the cry has gone out for his
Is the defence budget the most chaotic in all Whitehall? George Osborne said as much last October — and he’s still dealing with its hellish intricacies now. The main problem, as so often in military matters, is one of overcommitment. Thanks to various accounting ruses on Labour’s part, large parts of the MoD’s costs were
I’ve not been hugely impressed by Scyld Berry’s tenure* as editor of Wisden and his decision to name just four rather than the customary five Cricketers of the Year this season merely confirms that. It’s either a cop-out or a dishonourable play for extra publicity. Neither explanation reflects well upon the venerable Almanack. For the
I’m most grateful to Selena Gray for publicising Glenda Jackson’s response to the notion that volunteers might run a library that Brent council has threatened to close. I don’t think, however, Selena goes nearly far enough. Firstly, it cannot be pointed out too often that any library closures are the responsibility of councils, not central
Toby Young’s piece in the latest issue of the Spectator magazine captures one of the problems facing the Big Society. It’s not that people don’t want to donate their time to fill in the cracks left by the cuts – it’s that they’re often blocked from doing so. Toby highlights the case of Kensal Rise
