London

Tanya Gold reviews Balthazar

Balthazar is a golden cave in Covent Garden, in the old Theatre (Luvvie) Museum, home to dead pantomime horses and Christopher Biggins’s regrets. It is a copy of a New York restaurant, which was itself a copy of a Parisian brasserie, and it is the first big London opening of the year. This means diary stories and reviews and profiles of the co-owner (with Richard Caring), Keith McNally, the most ludicrous of which was in the FT, and was an interview with his house, which is in Notting Hill. It wasn’t quite as ridiculous as: F.T. What are you proudest of, Keith McNally’s House? Keith McNally’s house Guttering. But it

The birth of the Walking Book Club

In they stride, in muddy trainers or wellies, swirls of cold air caught on their clothes, children in off-road buggies, dogs bedraggledly in tow. I’ve always been thrilled that so many of our customers at Daunt Books in Belsize Park and Hampstead come in fresh from Hampstead Heath. Growing up in north London, I’ve spent many an hour walking on this scrubby land, as wild as London will get. Every November I march a group of friends across the Heath for an ‘annual birthday stomp’; in the summer I swim in the icy ponds and laze in the hot grass afterwards. Many of my friends think I’m quite dotty for

Martin Vander Weyer

Europe’s cap on bankers’ pay is merely a harbinger of the Great Persecution to come

‘Possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire,’ was Boris Johnson’s assessment of the proposal to cap bankers’ bonuses at 100 per cent of base salary, or 200 per cent with shareholders’ approval. This blunt exercise in market interference was tabled by a committee of MEPs led by a British Lib Dem, Sharon Bowles (perhaps in revenge for the fact that she didn’t win the Bank of England governorship, for which she applied) as a condition of agreeing a new set of bank capital reforms. With the support of all member states other than the one

Investment special: Gaining from a housing recovery

The long period of dormancy for Britain’s housing market looks as if it is coming to an end — though there are huge regional differences. Central London remains exceptional, with the influx of overseas buyers into Kensington, Chelsea and adjoining neighbourhoods creating a microclimate of surging prices that has little to do with economic fundamentals — and has the political left salivating at the thought of a ‘mansion tax’ on properties worth £2 million-plus, even if that means turfing elderly widows out of family homes. Some five years on from the financial crisis that brought many lenders and house-builders to their knees, there are signs of a broadly based recovery.

PMQs sketch: Miliband packs a punch, and Cameron punches back

Whooo that was nasty. Today’s was the most vicious PMQs of the last twelve months. Easily. Ed Miliband started by quoting the case of a Londoner called ‘John’ who was concerned about living standards. ‘John’, however, wasn’t a disabled pensioner but a City fat cat concerned that next year’s bonus might be capped at two million pounds. ‘What’s the prime minister going to do to help him?’ Nifty tactics from Miliband’s team. Cameron might have floundered here but his reply matched the full force of Miliband’s attack. His government, he declared, had cut bonuses to a quarter of what they’d been under Labour. ‘And we aren’t going to listen to

How much will Britain change in the next 10 years?

In the latest issue of Standpoint magazine I have a longish piece on the census for England and Wales. The story made the news for a couple of days at the end of last year, but I thought the census results deserved to be dwelt upon a little longer. I hope readers find it interesting: ‘Imagine yourself back in 2002. The census for England and Wales, compiled the previous year, has just come out, showing the extent to which the country has changed. You decide to extrapolate from the findings and speculate about what the next decade might bring. “The Muslim population of Britain will double in the next ten

The new Design Museum: Prince Charles will prefer it. But should we?

Twenty-five years ago I went to St James’s Palace to ask the Prince of Wales if he would open the new Design Museum. Before us was the model of the building, an elegant, austere, uncompromised white box that was very much along Bauhaus lines. We knew that ‘modern’ no longer meant ‘of-the-moment’ but had become a period style label. Even at the time we acknowledged the layers of irony in this historicist gesture. The Prince, sounding pained, I recall, asked, ‘Mr Bayley, why has it got a flat roof?’ And that was the end of that. Next time it will be different. The Design Museum is moving from a creatively

Rory Sutherland

Hailo matters more than HS2 – but we just can’t see it

One of Britain’s exam boards was attacked last year for a question in a GCSE religious studies examination: ‘Explain briefly why some people are prejudiced against Jews.’ Is this really a theological question? Or does it belong in biology? Or psychology? Or economics? The Canadian evolutionary psychologist Steven Pinker in The Blank Slate devotes a few pages to the issue of prejudice, including not only anti-Semitism but also hostility towards trading groups and intermediaries everywhere: from Chinese shopkeepers in Malaysia to Armenians, the Gujaratis and Chettiars in India and Korean store-owners in the United States. Pinker partly attributes this to what economists call ‘the physical fallacy’. We have evolved an

Why no conservative should support a mansion tax

The Government is expected to raise around £550 billion in tax revenue this financial year. The Centre for Policy Studies estimates that a mansion tax (of £20,000 on properties of £2 million), would raise at most £1 billion, less than 0.2 per cent of revenue. The tax is, however, likely to weaken the market and reduce prices – reducing receipts from other taxes; so even the CPS’s static analysis is probably optimistic. This proposed tax would be a huge burden on those forced to pay. The rate is not 1 per cent of the property’s value. The standard lifetime of a lease on a new build is 125 years, over

Rooms with a view

I do like a Shard story. My recent revelations about the prevalence of hanky panky at the top of the tower graced every national paper. Now I hear that the tower has become a giant pawn in a bitter property battle. The word is that one of the many members of the Qatari royal family, who are currently buying up most of London, is locked in a bidding war with the Duke of Westminster for one of the tower’s larger apartments. The Shard is the perfect vantage point from which to survey one’s vast estates in central London. I understand that the duke is not enjoying the new competition.

Shard toilets: trouble on high

Terrible news reaches me from the top of the Shard. The viewing platforms at the top of the 1,016ft glass wonder, which is the tallest building in western Europe, are set to open to the public in the coming weeks; but preview guests and party goers have reported a rather shaming interior design flaw. My mole says that complaints have been submitted about the reflective glass in the loos, which is causing havoc, discomfort and embarassment to users. It seems that the trendy designers did not appreciate that the reflections bounce off the ceiling and walls, and into and out of the cubicles. How very, very modern. The Shard team has, as of yet,

Historical directories: Street View for time-travellers – Spectator Blogs

Fancy a walk into London’s past? How about a stroll down Fleet Street in 1895? Or Oxford Street in 1899? It can be done. I can’t promise pictures, but I can offer more detail on the residents of each building than Google would risk publishing today. The secret: from the mid-1830s, a man named Frederic Kelly employed agents to call at every address in London and to record the people or businesses within. Kelly was a postal official, and his agents, at least to begin with, were postmen. There was some scandal about that. Because this wasn’t an official census, conducted every ten years and then locked away for a

Banking Commission to force Chancellor’s hand on reform

As is becoming increasingly clear to David Cameron, the problem with answering calls for an inquiry into a scandal in one industry or another is that at some point that Inquiry will report back with a bunch of recommendations which may or may not be politically expedient to implement. The Parliamentary Commission on Banking Standards came up with proposals last week for an electrified ring fence, which the Treasury politely said it would look at, and Vince Cable rather more bluntly said the government should ignore, preferring instead that ministers get a move on with implementing the Vickers proposals, rather than opening up the whole debate again. But the really

An electric fence to keep the City of London’s light from dimming

The Parliamentary Commission on Banking Standards was conceived in those tumultuous days following the first Libor revelations. At the time, some hoped that its report would lay the blame squarely at the feet of a certain former city minister. But the cross-party committee of peers and MPs has produced a sober report this morning which makes for relatively comfortable reading for those Labour politicians whose regulatory system saw the birth of Libor rigging as it does not name them. It is slightly less comfortable for the Coalition, which now has to consider whether to beef up its existing plans for banking reform. It doesn’t contradict the spirit of the Vickers

The Census demonstrates the importance – and benefits – of immigration – Spectator Blogs

I suppose the confirmation that 13 per cent of the present population of England and Wales were born overseas will be the cause of some eye-brow raising and much spluttering from the usual suspects. It’s too late to repel the foreign hordes. They are inside the castle already. Some 7.5 million people born overseas now live in England and Wales (but mainly England). Lucky old England, says I. Immigrants are drawn to and then help create economic prosperity. It is not, I suspect, a coincidence that depressed parts of northern England are also often those parts with the fewest numbers of foreign-born inhabitants. This makes sense: why would you leave Poland

The City: a beacon of diversity

Now, what would those in the Equalities industry say to an industry so diverse that it has — in proportion — seven times as many Hindus, five times as many Indians, three times as many atheists and three times as many gays or lesbians as the rest of the country? And that this was achieved not by a positive discrimination employment strategy, but by sheer hard-headed hunt for the best talent? It would likely be hailed as an exemplar of diversity, an example of how Britain is the most tolerant country in the world. But if they happen to be bankers? Well, that’s another issue altogether. The study from Astbury

Camilla Swift

No ifs. No buts. Heathrow must have a third runway. Or must it?

‘No ifs. No buts. Heathrow must have a third runway.’ This was our motion of the evening at last night’s Spectator debate, but when it came to kick-off time, it appeared the audience was there for the taking. The pre-vote count found a majority of nine votes against the motion, but with 21 undecided attendees, everything was still left to play for. Graham Brady – Chairman of the 1922 committee, and MP for Altringham and Sale West (with Manchester Airport on his doorstep, he added) – opened the debate by speaking for the motion. With more than a nod to David Cameron’s conference speech in Birmingham, Brady argued: ‘We are

No ifs, no buts, we need a decision on Heathrow now

The Prime Minister presumably believes we face a critical shortage of airport capacity in London. Why else would he signal a possible U-turn on what was a headline pre-election promise? He knows that one reason west London voters backed the Conservatives in the last general and local elections was his decision to rule out any prospect of building Labour’s 3rd runway at Heathrow. But if that is how he feels, why on earth would he commit to doing absolutely nothing for three years? I am yet to meet anyone who believes an airport review should take anything like so long; indeed the majority of options have been studied to death.

The great City of London exodus gathers pace

Why not tax the bejesus out of the City and tighten regulation? Yes, the bankers will moan — but it’s not as if they will go abroad. The tax rate may be low in Zug, but do our pinstriped friends want to actually live there? The City’s elite have their kids in British schools, the time zone is right for business and the global phenomenon of Planet London has attractions that outweigh marginal tax rates. So let bankers moan: they’ll stay. This is, more or less, the argument that you hear from MPs on all benches as they take a carving knife to the golden goose that is the City