All the latest analysis of the day's news and stories
Bankers make estate agents look popular and so any government deal with bankers that doesn’t involve kicking them is politically tricky. The Treasury, acutely aware of the politics of all this, are very keen to stress that the government ‘played hardball’ with Barclays, HSBC, Lloyds and RBS in the Project Merlin talks. The actual deal
Plenty of personality at today’s PMQs. Not much policy. Miliband opened with one of his stiletto questions. Short sharp and deadly. ‘How’s his Big Society going?’ he asked the prime minister. Potentially this is tricky ground for Cameron and he rose to a barrage of Labour jeers. At least he’s had time to rehearse his
Earlier today, the government unveiled Project Merlin, its attempt to link executive pay in banks to institutional lending, whilst driving down bonuses and increasing the Treasury’s revenue take. Here are its key components: Osborne welcomed ‘the most transparent pay regime in the world. Executive pay will be linked to targets for gross lending; remuneration for
VERDICT: A rowdy session, but constructive. Miliband went for the Big Society, which is in severe difficulty at present. He was very effective, but his attacks lacked absolute coherence. He failed to establish a link between his examples and his wider political point that the agenda is mere packaging for latent libertarianism. So, Cameron had
Today’s PMQs threatens to be overshadowed by the statement on Project Merlin, the government’s deal with the banks, expected at one o’clock. I suspect that Cameron will try and push away any questions on banks with the line that Miliband should wait for the Chancellor’s statement. But PMQs will still be a far livelier affair
Presently, the waves of bad news are as relentless as biblical plagues. The latest trade figures show that Britain’s trade gap opened in December; the seasonally adjusted deficit stood at £9.2bn, a rise from £8.5bn in November. There are plenty of explanations as to why the export-led recovery failed to jump customs, despite the comparatively
Some attacks hurt more than others. And the attack launched by Chris Simpkins, the director-general of the Royal British Legion, on the government’s approach to the military covenant will be particularly painful. For it comes after a Defence Review that left few happy, and when the nation is engaged in a war from which many
These are hard times for the government and there is no respite. Today, parliament will debate a prisoner’s right to vote, in accordance with the wishes of the resented European Court of Human Rights. The Guardian’s Patrick Wintour writes what many suspect: on the back of a free vote, the House will deny prisoners the
Cambridge University’s decision, leaked to The Guardian’s Nick Watt, to start charging fees of £9,000 a year from 2012 is an irritation for the Liberal Democrats who did not want any university to move to charging the highest fee possible straight away. It also threatens to overshadow Nick Clegg’s efforts to increase the social mix
An ungodly alliance has converged on the Big Society. From the left, The Voice of the Mirror, the Unions and Steve Richards have published diverse critiques; from the right, Philip Johnston has joined Peter Oborne in suggesting that the policy is suffering a near-death experience. The Local Government Association and councillors have added their disgruntled
Foreign Secretary William Hague has arrived in Tunisia in order to support to the pro-democracy movement. Unlike his previous visit to Syria, which I think was poorly timed, this one is perfectly-timed. It could even end up looking like George Bush Snr’s visit to Poland in July 1989 when the US president publicly backed the
Balls is a bit like a vampire – he has bite, but he works best in the darkness. In the House of Commons, with those lights shining on him, his powers drain. George Osborne had the better of him in their brief exchanges at Treasury Questions. Balls led on the snow joke. But Osborne had
Here is a dispatch from the north-east by Andrew Hankinson, one of the best feature writers around, who wrote a superb piece on the effects of the crash of 2008 on the young. It sums up one of my worries about Labour’s awful response to David Cameron’s speech on the need to revive liberal values.
In October last year, Osborne announced a new levy on banks’ balance sheets. It was 0.05 percent for this calendar year, before rising to 0.075 percent from 2012 onwards. But, today, the Chancellor has announced that the ‘introductory’ rate has been abolished – so banks will be charged the 0.075 percent rate on all liabilities.
In continental lore, it is Britain that is often seen as the greatest impediment to EU integration. The government’s EU Bill initially caused horror in the rest of Europe. Would Britain have to vote for each treaty change, even those needed to enlarge the Union? Before the text of the bill became clear, every self-respecting
The morning after the day before, it seems that some of the murk around Abdelbaset al-Megrahi’s release has lifted. In particular, one thing is explicit that wasn’t before: that the policy of the Brown government was to “do all it could” to facilitate the convicted Lockerbie bomber’s transfer to Libya. We might have surmised the
This morning’s newspapers would have made grim reading for the government. The Department for Transport has been forced to reverse its helicopter privatisation plan, there are doubts that the baccalaureate will suit Michael Gove’s education reforms and diverse packs of hounds have converged on the Big Society fox – and this is a cruel bloodsport.
Not to grant him guru status or anything but I’m glad that Reuel Marc Gerecht has at last weighed-in on the Egypt Question. I’ve mentioned his writing before and think him one of the most interesting, and in some ways provocative, middle-east analysts. Even if you disagree with him, his ideas are worth serious consideration.
November 8th, 1994 is one of the hinge moments in modern American politics. If you wanted to write a counter-factual chronicle of recent American politics you could do worse than begin with the night George W Bush was elected Governor of Texas and Jeb Bush was defeated by Lawton Chiles in Florida. The 63,940 votes
Tomorrow is the first Osborne Balls Treasury Questions clash. It should be a fiery encounter. There’s little love lost between the two men, they are both aggressive despatch box performers and the two of them know that their clash over the economy is likely to be the major factor in determining the next election result.
We at The Spectator have not had much company in criticising Mervyn King for the failure of his monetary policy. The Bank of England governor has a status like the Speaker used to: someone whose position must command respect, otherwise the system collapses. And yet there are Octopuses with a better track record in inflation
“No man but a blockhead ever wrote, except for money,” declared Dr Johnson. Boswell did not like the maxim and explained it away as an example of Johnson’s lazy nature. “Numerous instances to refute this will occur to all who are versed in the history of literature,” he puffed. If they were numerous in the
Thursday’s debate on the backbench motion on prisoner voting tabled by Jack Straw and David Davis is set to be a real parliamentary event – a rare occasion where the will of the elected legislature might just make a big difference. The real news will not be how many endorse the ban, but which MPs
After a difficult few weeks for the Big Society, culminating in Liverpool’s nakedly political ‘withdrawal’ from the vanguard projects, Peter Oborne has already drafted an obituary for the Conservative’s policy agenda. As Oborne says, the Big Society goes to the heart of this government’s reason for existence, and its (real or perceived) failure would
The Independent has a remarkable story today which shows just how public money gets wasted. The paper reports that the Department for Energy and Climate Change has employed a firm of headhunters to find it a new chief economist. Tom Peck writes that the headhunters then approached Vicky Pryce about the job. Ms Pryce had
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
The popular uprisings in Egypt and Tunisia have exposed as nonsense the notion, held in many quarters, that Middle Easterners – be they Arabs, Persians, Muslims and Christians – are uncommonly uninterested in democracy. But as former CIA agent and Middle East expert Reuel Marc Gerecht writes in the New York Times: ‘A revulsion against
…here is a selection of posts made at Spectator.co.uk over the weekend. Quentin Letts gives his bluffers guide to Egypt. Fraser Nelson says that No.10 needs to get a grip. James Forsyth defends Cameron’s muscular liberalism speech, and hopes for an orderly transition of power in Egypt. Peter Hoskin asks how much we spend on
We shouldn’t have believed the hype. For all of Tony Blair’s earnest focus on Anti-Social Behaviour Orders, this flagship policy was barely in effect at all. By the latest figures, only 18,670 ASBOs were issued between April 1999 and the start of 2010. According to this Policy Exchange report – the best on the subject
Interviewed by the Times, Frank Field fails the Canute Test: Mr Field said that it was not good enough for the Government to say there was enough money in the budget to maintain the existing Sure Start centres. “The Government needs urgently to step in,” he said. “At some stage they are going to have
The gushing nonsense that has accompanied the centennial of Ronald Wilson Reagan’s birth can be no surprise to anyone even if, no especially if, you consider it mildly unseemly. “A Republic, if you can keep it” said Benjamin Franklin and Reagan’s beatification is another reminder that the United States long ago became a republic in
When the Tories were in opposition, non-aligned friends used to complain to me that the party’s front bench was unimpressive. Labour politicians had walked the political stage for more than a decade; many were household names, while the Tories were unknown. But eight months in and Labour’s top team is a largely unknown entity, with
For once, I am in total agreement with Nigel Farage: the best way for Sally Bercow to help her husband is to take a vow of silence. Her recent Cleopatra act diverted attention from the persistent indignity of parliament’s relationship with IPSA, but it has done little to raise the diminutive Speaker’s diminutive reputation. Flushed with embarrassment,
David Cameron’s speech yesterday was one of the most important he has given as Prime Minister. I’d urge you to read the whole text just to see how absurd some of the opportunistic, party political attacks on it have been. As I say in The Mail on Sunday, they’ll be a huge amount of resistance
