Fraser Nelson is a Times columnist and a former editor of The Spectator.
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
In opposition, one of David Cameron’s strengths was the speed at which he dumped bad ideas. But, now, he is starting to acquire a habit for U-Turns – especially those called for by minor celebs. We’ve seen Scottish school milk, NHS Direct, BookStart, school sport – and soon, I suspect, forests, World Service cuts and
What to think about Egypt? Pick up most newspapers and you see a flood of words, but a trickle of information. Not so with this week’s Spectator, which has everything you need to know – and nothing more. Here are some pieces that I thought may interest CoffeeHousers. 1. What you need to know. Our
It will have been a quiet morning in the Balls household. Fresh economic indicators suggest that the British economy is not in some cuts-induced recession but, instead, doing rather nicely, thank-you. As I said last week, economic health is assessed by all manner of indices – and the ONS (which is forever having to tear
The Guardian’s Sarfraz Manzoor was on Aled Jones’s show on Radio Two this morning (titter ye not – it’s great Sunday music) discussing how members of his Muslim family shunned him after he married a Christian. He had this to say: “It hasn’t made me doubt my faith. What it’s made me do is feel
I wish I could be more enthusiastic about the events in Egypt and Tunisia – but, as I say in my News of the World column (£) today, the citizens of the Arab world all too often have a choice between a Bad Guy and a Worse Guy. Egypt looks like its choice is between
The new issue of The Spectator is out in the shops today – subscribers can read it online, or on Kindle/iPad – and here are a few pieces that I thought might interest CoffeeHousers. 1. The death of meritocracy. Social mobility – or the lack thereof – is a subject that no political party
“Recession here we come, a snow-dabbed double-dip” tweeted Faisal Islam, Channel Four’s economics editor. He summed up much of the hysterical reaction. It may spoil a good story, but here is what I suspect the broadcasters won’t tell you today. 1. Erratic GDP swings are common when recovering from a recession. Remember how stunned everyone
To the chagrin of CoffeeHousers, I have long rated Ed Balls and his abilities. He has a degree of brilliance, albeit tragically deployed in the services of a destructive economic agenda. But as we welcome him back, it’s worth reminding ourselves that his abilities are of a specific type. He understands economics (even though
So, who’s next after Andy Coulson? This question is oddly important, and will certainly influence the direction of his government. It shouldn’t, but you have to understand the way the Cameron operation works – and of how life looked before George Osborne persuaded Coulson to come on board (hoodie hugging, husky-riding, etc). Coulson was an
Balls is back. The author of Gordon Brown’s economic policies for 15 years. The man who bears more responsibility for anyone else – other than Brown – for the asset bubble and the consequent crash. But I suspect that, right now, Theresa May is doing cartwheels and George Osborne cursing. Balls, for all his many
How big does inflation have to get before our politicians admit that it’s a problem? Once again, it has “surprised” on the upside – the CPI index stood at 3.7 percent for December, against a supposed target of 2.0 percent. And the RPI index, which the nation called “inflation” until Gordon Brown asked the media
Ed Miliband has had three launches in three months – but, much as I hate to admit it, things are getting better for him. His party are now consistently ahead in the polls, so in my News of the World column today I look at what’s going right. Here are my main points: 1) Cameron’s
The latest issue of The Spectator is out today, and I thought CoffeeHousers might like to read the cover story by Nick Cohen. Its theme is brilliantly captured by Jonathan Cusick’s cover image (left) of the yellow Lib Dem bird shot through its heart with a Tory arrow – but there’s more to it than
If Mervyn King and his team are trying to deal with Britain’s debt crisis by letting inflation rip, I do wish they would just say so – rather than go through this monthly farce. Yet again, base rates have been left at an absurd 0.5 per cent, in an economy expected to grow by a
Is Michael Gove’s school reform a hideous distortion of the Labour Academies programme, as Ed Balls put it, or the fulfillment of that agenda? Until now Lord Adonis, the architect of the Academies programme, has kept silent on the issue. But he’s interviewed in The Spectator tomorrow by Matthew Smith, editor of Attain magazine. Here
It’s not all politics at Westminster. There’s a pretty good think-tank scene too, with lectures on topics that you’re unlikely to read about in the newspapers. One took place today: the Adam Smith Institute hosted a lecture by Steven G. Horwitz, from St. Lawrence University, entitled “An Austrian perspective on the great recession of 2008-09”.
David Cameron was on Marr this morning (with yours truly doing the warm-up paper review), talking about the “tough and difficult year” ahead. Others have been through the interview for its general content. What interested me was its economic content: not the most sexy subject in the world, I know, but, as Alan Johnson unwittingly
How much bigger does Britain’s inflation have to become before Mervyn King realises it’s a problem? The VAT rise should have lifted prices by 2.1 percent – but shopkeepers over Britain have been applying far larger rises. Why? Because one of the most important factors in economics – expectation of inflation – is back. People
Today marks something of a milestone for Michael Gove’s school reform agenda. Free schools – i.e. ‘Academies’ which are independently run, yet within the state sector – now account for more than 10 percent of British secondaries. This is what I have always thought of as a tipping point – where independent schools offer real
