Boris Johnson may be in political peril but his Covid-19 strategy was worth the risk Paul Ormerod The last days have been of decisive importance in the life of this pandemic: the total number of Covid-19 cases in the country has started to fall, and is continuing to fall. Finally, we are well past the worst. Something to consider is that the figures we see in the headlines, no matter what data [...]
The mountain of debt cannot be ignored no matter how much the economy grows Paul Ormerod Politicians and regulators are increasingly concerned about one phenomenon: buy-now-pay-later (BNPL). Nearly a year ago, the government agreed to regulate BNPL lenders, with an independent review chaired by City expert Christopher Woolard warning the sector represented a “significant potential consumer harm”. A Treasury consultation on BNPL only closed at the end of last year. It [...]
Lending a hand: government loans to energy firms can’t be the final answer Paul Ormerod Some of the media seem to have become addicted to gloom. Most outfits have become cautiously optimistic on Covid-19, but the prospective double squeeze on living standards has rushed in to fill the gap. Consumers are faced with tax increases and sharp rises in energy bills. The surge in the world price of energy means [...]
Three Christmas presents for a Cabinet that lacks political grip December 22, 2021 At this time of the year hapless members of the Cabinet, and even the Prime Minister himself, are entitled to some charity. We might usefully consider the gifts we would put under their trees on Christmas morning. Top of the list could well be both a Peloton and a deckchair. Sarah Healey, permanent secretary at [...]
Precaution is a useful thing, but designing policy based on maybes is a dangerous road December 16, 2021 It is is so familiar, the script almost writes itself. Health professionals start to call for more restrictive measures at the slightest whiff of bad news. The government initially dismisses the concerns. Gradually, ministers – many of them almost wholly innumerate – are beaten into submission by projections of what might happen. If we were [...]
Schools across the country have forgotten how to teach kids to aspire to be better December 8, 2021 Omicron, the new Covid variant, has had an unexpected victim: the long-awaited White Paper on levelling up. Boris Johnson’s plans to put his 2019 election pledge into reality will not be published until New Year, to give the government more time to focus on containing Covid. The document, set to span industry, skills and transport, [...]
Unchallenged inflation will make strike action the norm in a new labour market December 1, 2021 Last Friday, London once again muddled through the inconvenience of yet another Tube strike. Another one is planned for the middle of December. They are just as much a feature of the metropolitan scene as Big Ben. Until more of the trains are automated, Tube staff will retain the capacity to cause disruption. But this [...]
Think petrol panic buying was bad? Wait til you see what’s (not) in store this Christmas November 24, 2021 It is that time of year again: ice skating, cold, clear blue skies, fairy lights decorating Oxford Street, and fears about having enough Christmas toys on the shelves. There are two key themes to this year’s scare stories. First, supply problems could lead to a deluge of children missing out on the most popular toys. [...]
New winter Covid restrictions would make it official policy to pray for a better day November 17, 2021 A trip to the Scottish Highlands is always refreshing. Despite the shortening days, the hills were in perfect late autumn condition. It clears your mind and helps you reflect on what’s not working. This time around, it was more interesting than usual: it illuminated the stark contradictions and hypocrisy of the current Covid regulations, administered [...]
Britons squeamish to spend their savings are jeopardising our economic recovery November 10, 2021 The economic recovery is under threat. British consumers are saving and not spending. The Office for Budget Responsibility (OBR) estimates that during lockdown, households accumulated a massive £180bn of so-called “excess savings”. Earlier in the year, most economic forecasts assumed that these would be run down. Lockdown had constrained people’s normal behaviour and with the [...]
