Martin Vander Weyer is business editor of The Spectator. He writes the weekly Any Other Business column.
When the solemn temples are dissolving, why are they still offering giant salaries? I had the pleasure of giving a prize-giving speech on Saturday, at a lovely school called Fyling Hall which looks out over the North Sea near Whitby. I have developed a theme which seems to go down well on these occasions: treasure
I don’t give a toss about my MP’s flat, but I’m bloody livid about council tax Next Thursday’s elections have been so overwhelmed by the scandal of Westminster expenses that candidates for the major parties have scarcely shown their faces in my part of the world. And voters, content to fulminate at the daily pageant
It’s true there are signs of an economic recovery, says Martin Vander Weyer, but we should also beware a ‘third wave’ of destruction It’s springtime in North Yorkshire, which traditionally means lashing rain and temperatures like February. But however unseasonal the weather, nature knows when it’s time to wake up: in the first few days
Eddie was a model public servant: that’s why Gordon was so rude to him In Tokyo in the mid-Eighties, I bumped into a very senior Japanese investment banker who had just been to London to negotiate an operating licence. ‘We met…’ he paused for effect, bowing slightly at the neck and adopting what I can
At last, a government response to the financial crisis that is actually working. Am I referring to last November’s VAT cut? Of course not; it has been as ineffectual as we all said it would be. Those loan guarantee schemes for struggling small businesses? Nope, still very little sign of them, I’m afraid, months after
Lloyds becomes one more catastrophe for which Brown will never apologise How Lloyds Banking Group chairman Sir Victor Blank must regret not having had a prior engagement on Monday 15 September last year, the night he bumped into Gordon Brown at a City reception and got bounced into the takeover of HBOS by Lloyds TSB.
The Prime Minister’s latest measures to shore up the banking sector will not be his last, says Martin Vander Weyer. But the market is losing patience with the government’s interventions There is a passage in The Siege of Krishnapur, J.G. Farrell’s novel about the Indian Mutiny, in which the defenders of the British residency, having
A hot new brand, a better train service and a kinder role model for harsh times Here in Old Queen Street, we have (in our editor’s eloquent phrase) said pants to recession by launching a fistful of ‘brand extensions’ this year: our Australian edition, our online Book Club, and the soaraway monthly Spectator Business. Even
My hopes for America lie less in Obama- mania, more in Vaud and the Villains Long before I became a journalist I taught myself to absorb the essence of an unfamiliar city by staying alert in the taxi from the airport: Los Angeles offers a particularly vivid first encounter. As the yellow cab barrels out
Martin Vander Weyer looks ahead to next week’s Pre-Budget Report and reflects on George Osborne’s contentious remarks about the devaluation of sterling. It looks like Gordon Brown is getting away with his borrowing binge — leaving the Tories isolated On Monday afternoon I rang a distinguished City economist and asked him a rather technical question
At this juncture, my best credit-crunch advice is to keep beside your armchair at all times an atlas of the world, a modern American dictionary and a bottle of whisky. If your constitution is strong, you might also want a copy of the Financial Times but do keep the television zapper handy, so you can
The ticking parcel I failed to spot and the oil-price prediction I got spot on Last week’s global stock market panic, the overture to this week’s astonishing round of state interventions, was in part provoked by fear of humongous losses in something called ‘credit default swaps’. These arcane inventions by Wall Street rocket-scientists are a
At the historic moment when the House of Representatives passed Hank Paulson’s bail-out bill last Friday night — thus, we must hope, despite early indications to the contrary, significantly improving the world’s chances of avoiding economic cataclysm — I was conducting some research into the Scandinavian solution. I don’t mean the policies followed by the
On Monday afternoon I rang a Wall Street friend who used to work at Lehman Brothers. ‘What’s the mood?’ I asked him. ‘Do you think this is the turning point?’ ‘Hold on a moment,’ he replied. ‘Let me just climb back in off the window ledge.’ There was a pause, then a nervous chuckle. For
The Prime Minister’s survival is pinned on a September ‘relaunch’ to ease the voters’ economic woes. But, says Martin Vander Weyer, each door through which Brown tries to escape his predicament slams in his face. His room for manoeuvre is negligible All this talk of Gordon Brown’s ‘economic recovery plan’ calls to mind the unhappy
Does Medvedev really believe in the rule of law? The fate of TNK-BP is the test Is President Dmitri Medvedev of Russia — who looks and sounds like a liberal-leaning modern technocrat — really his own man, or is he merely the stooge of his predecessor, the sinister, warmongering Vladimir Putin? The mad situation engulfing
Martin Vander Weyer’s thoughts on the world of business Shell and Barclays were the two highest-profile British companies in South Africa during the apartheid era. Both pursued non- racial business practices as far as they could, but both endured years of disrupted shareholder meetings and flak from the student Left. Shell stuck it out —
How times change: the ECB has become the very model of a modern central bank I don’t suppose many of my readers took part in the European Central Bank’s tenth birthday celebrations last week — but if I’m wrong about Jean-Claude Trichet’s taste in columnists, then bon anniversaire, monsieur le président, though I can’t quite
These days, Vesco the fugitive fraudster would have had a top job on Wall Street So farewell, Robert Vesco, the fraudster, drug trafficker and fugitive from US justice whose death last year has been ‘confirmed by Cuban burial records’, according to the Daily Telegraph. Vesco absconded with $200 million of other people’s money — $60
The Chariots of Fire moment that revealed Gordon’s 10p tax timebomb The abolition of the 10p starter rate of income tax in Gordon Brown’s last Budget has a special significance in recent Spectator history: coming only a month after our move from Doughty Street in Bloomsbury to Old Queen Street in Westminster, it was the