The UK has a London problem
Funding the Future
The UK has a London problem
According to the FT: London rents rose at the fastest pace on record in November, according to official data that highlights the intensifying pain...
 The UK is the only country in the developed world where the capital city has increased its stranglehold on the national economy during this century. No wonder everyone else is unhappy.
The Bank of England knew inflation was going to rise now – in February
Funding the Future
The Bank of England knew inflation was going to rise now – in February
This chart comes from the Monetary Policy Committee quarterly report to the Bank of England published in early August 2024: It shows that th...
 Looking at a year's worth of inflation forecasts, it's clear that the Bank of England knew inflation would rise now but that it would also fall again and that the rate now is lower than they expected a year ago. So, what is all the fuss about today?
Inflation is up. Should anyone give a damn?
Funding the Future
Inflation is up. Should anyone give a damn?
The Office for National Statistics has published this news on inflation in November this morning: The Consumer Prices Index (CPI) rose by 2.6%...
 Inflation is up a little bit, exactly as we knew it would be months ago. It was inevitable because of the way the inflation indices work. So why is anyone going to make a fuss?
The spying we need worry about
Funding the Future
The spying we need worry about
Try as I might, I cannot get excited by the Prince Andrew spying story. After all, if China really wanted hot gossip on the inner workings of the U...
 China spies on us. We spy in China. That's the way the world is. What we should worry about is that the UK government also spies on us.
Are the UK’s politicians frightened to stand up to wealth? The UK does not need a government run for the benefit of the wealthiest. But that is what it has got. It needs a government run for people in need, which is the exact opposite of what Labour is delivering. Is that because it’s frightened of wealthy people?
Royal Mail? Really?
Funding the Future
Royal Mail? Really?
The Royal Mail is not royal, if ever it was. It has not been an essential state-supplied service for some time, although I doubt we can survive ...
 Is profit all that really matters now? What about service? What about community? What about national control of essential infrastructure? And what is Labour thinking? So many questions, and no answers.
Something has to explain why politicians are now so bad Looking at the people who now describe themselves as politicians it’s reasonable to ask why they are pursuing that vocation because they don’t seem to have a conviction of consequence between the lot of them. Could it be that they’re a bunch of dopamine junkies, in it for the short-term fixes politics gives them?
Nationalising essential utilities – like water – should not cost taxpaye... Labour claims taxpayers would face a massive bill for nationalising the water industry. But that’s not true. If a fair price is paid for the businesses and their debts, nationalising should impose no cash cost on the Treasury at all.
Why has Rachel Reeves called in bankers to advise on the NHS? Rachel Reeves must think the only job a government has is to balance its books. There can be no other explanation for the insanity of calling in bankers to advise on the NHS.
The next crash could be much bigger than the last two
Funding the Future
The next crash could be much bigger than the last two
As the FT has noted: The UK statistics agency defines properties costing more than five years of income as “unaffordable”. The affordabilit...
 The extreme financialisation of the economy must be approaching the point where it is no longer sustainable. When that happens the crash will be of a wholly different scale to 2008, or 2020.