[Re: We are stuck in a disastrous spiral of misplaced interventionism, Friday]
I couldn’t agree more with this diagnosis of political failure. But I think rising rent is largely a London problem. When I was younger, the idea was you bought a small two bed terrace and moved your way up the ladder. That’s impossible in London now, partly due to the high cost of moving thanks to stamp duty. And if by some miracle we do manage to build enough homes that people want, thereby reducing the cost of an average house in an area, what about the people who bought at the peak? It’s very depressing.
[Re: We will not apologise for defending British worldbeaters like AstraZeneca, yesterday]
I find Chuka Umunna’s attitude to the potential Pfizer-AstraZeneca tie-up troubling. While he denies being opposed to a foreign takeover per se, the implication is that we should be concerned about non-UK companies buying up Britain. In fact, we should be glad Pfizer is interested. First, capital will be sent to Britain. More importantly, the value of Pfizer-AstraZeneca to consumers wouldn’t be in the tax it paid, or the R&D it did in Britain, but in how successfully it provided the products we want – lifesaving pharmaceuticals.
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