The coronavirus crisis is a make-or-break moment for globalisation March 6, 2020 The anti-globalisation movement is going viral. A new disease — virtually unknown, fiercely contagious, at times deadly — has put every aspect of modern life at risk. While governments grapple with the domestic realities, urging citizens to self-isolate and wash their hands while reciting Shakespeare, a larger question is looming: is this the end for [...]
National Infrastructure Strategy set to be delayed until after Budget March 5, 2020 The government’s National Infrastructure Strategy is expected to be postponed until after next week’s Budget. The delay will enable the new chancellor Rishi Sunak to refocus the strategy towards achieving a ‘net zero’ economy by 2050, after only stepping into his role last month. The detailed plan to invest £100bn by 2050 will be key [...]
Influential Treasury Select Committee slams FCA culture but backs Bailey as next Bank governor March 5, 2020 Parliament’s influential Treasury Select Committee (TSC) today unanimously backed Andrew Bailey in his new role at the Bank of England, but took the opportunity to criticise failings in his post at the City’s watchdog. The TSC pointed to recent conduct issues such as the London Capital & Finance mini-bond and Woodfood investment scandals, which occurred under Bailey’s watch [...]
Mark Carney says Bank of England and Treasury working to tackle coronavirus fallout March 5, 2020 Bank of England governor Mark Carney has said that Threadneedle Street is coordinating with the Treasury to make sure British households and businesses are protected from the economic fallout from coronavirus. Carney, who will be replaced by Andrew Bailey as governor on 16 March, refused to be drawn on whether the Bank would carry out [...]
Warren drops out of presidential race March 5, 2020 Elizabeth Warren has pulled out of the presidential race after a lacklustre showing on Super Tuesday, the Massachusetts senator announced today. Warren was considered a favourite of the liberal left and a frontrunner among Democratic candidates. However, a strong showing from rivals Joe Biden and Bernie Sanders on Super Tuesday — a day of cross-state [...]
Brexit trade talks: Michel Barnier cites ‘serious differences’ between EU and UK stances March 5, 2020 The EU’s chief negotiator has warned of “very serious divergence” between Britain and Brussels over the future relationship, following the first round of post-Brexit trade talks. Michel Barnier said he was confident a deal could be struck between the two sides, saying “an agreement is possible, even if it is difficult”. But he warned there [...]
With Bernie Sanders, the Democrats must chart a course between Scylla and Charybdis March 5, 2020 For my sins, I spent most of my early adulthood in some sort of library. Of all the topics I have had the pleasure of really studying, one stands out: Classics. Paradoxically, an understanding of Classics tells you more about how westerners behave and are today than any other discipline. The ancient Greeks seem to [...]
Huawei is uniting Tory backbenchers – but can they win over Saj? March 4, 2020 What Brexit put asunder, Huawei appears to be joining. Yesterday morning, former Tory leader Iain Duncan Smith led a debate about the Chinese firm’s involvement in the UK’s 5G infrastructure. He was joined by plenty of Conservative MPs you might expect – fellow Leavers David Davis, Bob Seely and Owen Paterson – and plenty of [...]
Exclusive: Downing Street set to parachute Bernard Jenkin into key committee role March 4, 2020 Number 10 is set to appoint veteran backbencher Bernard Jenkin to head up the key Liaison Committee, City A.M. understands, in a controversial departure from parliamentary convention. The Liaison Committee, the only committee with the power to call the Prime Minister to face questions, is made up of the chairs of parliament’s other select committees [...]
HS2: Top civil servant admits to withholding information on cost blow out March 4, 2020 Whitehall’s top transport civil servant appeared to admit to withholding information that showed HS2 would go over budget in a parliamentary committee hearing today. The Department for Transport’s (DfT) permanent secretary Bernadette Kelly answered questions from the Public Accounts Committee on the controversial project. The high speed rail line – connecting London, Birmingham, Crewe, Manchester [...]