Down with the fake meat bubble fed by cheap money

“The addressable market may be more limited than many thought,” Deloitte concluded in a report published last week. Of course, because if inflation hits and the counterfeits are more expensive than the real thing, who would pay more? Also, the products haven’t attracted a large audience of health-conscious vegetarians — which isn’t surprising when the … Read more

It will lead to strikes and protests, but public sector wages must fall

The recent market turmoil is all the worse because it wasn’t necessary. Tax cuts didn’t have to be announced so soon, even though Liz Truss had foolishly said during the election that she would cut taxes “within days.” They could have waited for the announcement of the new fiscal framework and this announcement could have … Read more

Markets are wrong about ‘Trussonomics’, as they are about Brexit

Lowering the top rate from 45 percent to 40 percent is more controversial. But it is a sound supply policy. Higher income earners and the companies that employ them are particularly likely to respond positively to tax cuts, for example by moving to the UK. If it’s just about boosting demand quickly, it would make … Read more

Bank of England bankruptcies leave Britain dangerously addicted to cheap money

Since the global financial crisis of 2008, we have become accustomed to cheap money, with low interest rates and quantitative easing (QE). In the latter, the Bank of England has been involved in printing money to buy government bonds known as gilts. Last year QE had reached £895 billion and the Bank owned almost a … Read more

Liz Truss and Kwasi Kwarteng have driven our economy off a cliff

The reason companies are concerned about rising interest rates is not because of the necessary energy bill measures. It’s because the biggest companies got a totally unfunded £17 billion corporate tax cut that they didn’t ask for. To say otherwise is nonsense, insulting, a fraud of the British people. For the vast majority of those … Read more

This was undoubtedly an expensive procedure, but doing nothing was not an option

Cast your mind back to just four weeks ago. We received daily warnings of extreme energy prices to come. Corner shops to factories predicting carnage. Business groups fearing mass unemployment. The whole livelihood was at stake. Make no mistake, this was a very real prospect for our country. No government with any conscience would ever … Read more

Liz Truss must hold her nerves as the world plunges into a catastrophic recession

Over the past 25 years, and especially since the financial crisis, the global economy has taken a catastrophic wrong turn for which we are about to pay a horrendous price. In one of the most serious intellectual mistakes since communism, many of the world’s brightest people thought they had discovered the secret to eternal prosperity. … Read more

Quarteng may have walked straight into Gordon Brown’s bear trap

The most important supply-side measure was the announcement of 40 business zones within which the tax benefits will be significant. I suspect that these zones will succeed in improving performance in those specific economic areas. The problem with such policies, however, is that there is a tendency to divert economic activity from other places, with … Read more

Amid Putin’s roaring threats, the West has genuine cause for hope

I touch wood as I write, but can you think of anything that would go well for Vladimir Putin? Under his command, the Russian army has just lost not only a conquered territory the size of Wales, but also its aura of invincibility. If it suffers a similar defeat in the south, the end is … Read more

We just paid Belgium 50 times the going rate to keep the lights of London on – how did it come to this?

The news in July that the National Grid panicked to buy outrageously expensive Belgian electricity to avoid power cuts fundamentally illustrates Britain’s dangerous energy supply. When power demand rose during the heatwaves, the National Grid paid £9,724 per megawatt-hour, more than 5,000 percent of the normal price, to avoid power outages in London. While backbenchers … Read more