Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
Ursula von der Leyen has demanded a full investigation. EU officials are considering pulling out of technology talks with the US. And negotiations over a trade deal with Australia have been put in doubt. Over the last 24 hours, the full might of the European Union has been deployed on the side of France in
45 min listen
In this week’s episode: is Brexit to blame for the rise in blue-collar wages? With labour shortages driving wages up, many have blamed Britain’s removal from the single market. However, this week in The Spectator, Matthew Lynn argues that shocks and price signals are how the free-market economy reorganises, and that we are experiencing a global
During the Brexit referendum, Stuart Rose, the former boss of Marks & Spencer, and chair of the Remain campaign, claimed that if Britain left the EU, wages ‘will go up’. This was, he added, in a rare moment of candour, ‘not necessarily a good thing’. But the idea that salaries might rise was exactly the
We are in the middle of a once-in-a-generation shift: working from home. There are skill shortages across the economy, supply bottlenecks, and empty supermarket shelves. A couple of million people are still set to come off furlough, back into jobs that may no longer exist. The labour market is in utter chaos. But, hey, here’s a good
Car workers in Sunderland are doing just fine. Construction workers still have jobs. And the food is still getting to the supermarkets, even if there are some occasional disruptions to supply. Not many of the dire warnings about the consequences of leaving the European Union have actually come to pass. There is, however, one group
An arrogant, aloof, wordy, pro-EU centrist drawn from the same narrow elite that has dominated the country for decades. It’s not that hard to see how French voters might choose to replace Emmanuel Macron with Michel Barnier. Apart from the fact he is older, his hair is greyer, and his wife is slightly younger, it is
The City has resigned itself to being locked out of the EU. The hauliers are adjusting to all the extra paperwork. Now it looks as if the lawyers will have to get used to no deal as well — and while that won’t do any serious long term damage to the profession’s booming global status,
The debacle in Iraq. The fall of Saigon at the end of the Vietnam War. The failed ‘Bay of Pigs’ invasion of Cuba. You can debate where exactly the collapse of Afghanistan ranks in the list of American military and foreign policy disasters. But one point is surely certain. It is a major setback, and
19 min listen
On this week’s episode, Jonathan Miller, author of France, a Nation on the Verge of a Nervous Breakdown talks about the French ‘vaccine passport’ protests; Financial columnist Matthew Lynn reflects on 50 years without the gold standard; and Melissa Kite tells us about her own ways of treating Covid.
The dotcom bubble. The financial crisis of 2008 and 2009. The oil price spiral of the 1970s. The launch of the single currency. It would be fun, in a nerdish kind of a way, to debate which was the most seismic economic event of postwar history. But in fact the answer would be this: the
Tapping out some code in the back garden. Working on a sales presentation while watching the school sports day. Or even better, traveling though a continent or two while still pulling down a ritzy six figure salary. Over the last year, middle class professionals have bought into the Work From Home Dream – or WFHD
It will be better for our careers. We will network more effectively, spark ideas off one another, and learn new things from our colleagues, as well as getting a reminder from time to time of how annoying they are. Chancellor Rishi Sunak took a break today from his usual occupation of dishing out vast sums
The UK is growing at the fastest pace in 80 years. The United States, fuelled by President Biden’s stimulus programme, is expanding at a breath-taking pace, while Sweden is growing at a rapid rate. Most of the global economy is bouncing back from the Covid recession at remarkable speed. There is, however, one exception. Australia.
There will be chaos at the borders. Food will run out at the supermarkets. Travellers will face long queues, and companies yet another round of disruption. As the UK lays the groundwork for breaking with the Northern Ireland Protocol, we will hear plenty of scare stories about how it might mean losing the Free Trade Agreement
A dozen hospitals. A hundred million doses of the Pfizer vaccine, and a lot more of the Oxford one. Or even a few trips in one of Jeff Bezos’s new space rockets. Even with inflation, there is still plenty you can buy with an extra three to four billion pounds. In recent days, it has emerged
They are rich boys with some very expensive toys. As Richard Branson completes his first space flight, it would be easy to dismiss the race between the Virgin founder and Amazon’s Jeff Bezos to be the first billionaire in space as the self-indulgence of a couple of tycoons with too much testosterone and too much
Two billion? Five billion? Perhaps ten billion to make it a nice round number? For colluding on diesel emissions you might think the European Union would hand out a pretty stiff fine to the big German auto-manufacturers. After all, it has hit American tech giants with huge penalties for far lesser transgressions. Yet in the end, its
The government will ‘Buy British’ whenever possible. A new law would force every public body to publish the percentage of supplies bought from domestic suppliers. And Gareth Southgate will be appointed as the country’s new management tsar, tasked with turning every worker into a winner. Okay, I admit I made that last one up. The
The economy is growing at a blistering pace, and likely to recover all its Covid losses by the autumn. Labour shortages are emerging across a range of industries, as the supply of Eastern European workers dries up. Prices are starting to edge upwards, house prices are soaring, and commodities are getting more expensive. But, hey,
In the global market for government debt, worth an estimated $92 trillion (£66 trillion), it amounts to little more than a drop in the ocean. The European Union this week issued the first €20 billion (£17 billion) of bonds to pay for its Coronavirus Rescue Fund. The money itself doesn’t amount to very much one way
