Economy – Page 29 – John Vincent

Next Please

There’s no celebration. No fanfare. Today, the UK get a new PM. The 4^th in 6-years. We have seen Cameron, May, come and go. Now Johnson is going in favour of Truss. If there’s a celebration, it’s that Johnson is going out of Number 10 Downing Street. The removal van is, no doubt, fully laden.

This is a transition that needs to be made as quickly as possible. For too long the Johnson cabal has been lingering and doing little of any use to the nation. However, the jobs are distributed it’s a time when decisions must be made fast, but with a degree of smart flexibility.

Truss has none of Johnson’s ability to bluff and shtick. The new PM has a delivery that’s wooden and gaff prone. Nevertheless, Tuss has beaten others who would dearly love to be in the hot seat. Although, there’s good reason to question why anyone sane would want to be PM in September 2022, given the vast size of the in-tray that is waiting.

Smaller taxes and smaller Government may have been Truss’s shop window to Tory members but that’s not what’s necessary to dig the country out of the doldrums. This is a time for intervention. We have markets that are actively working against the interests of the British people.

Denying the aftereffects of Brexit also needs to go in the dustbin. It’s only by recognising a problem that a better path can be taken.

The last thing we need is a laissez-faire leadership. The textbooks of the Reagan era do not contain the solutions to the problems of the 2020s. Immediate changes to the energy market are needed. Regulation is a major part of those changes. Not micromanagement but structural change. The accumulation of huge profits because of our peculiar regulatory structure can’t continue.

On this momentous day, change must happen. However, as a word of caution, that transformation must not disregard the real and urgent nature of climate change. If our hot summer wasn’t an indicator sufficient to catch the attention of the new PM, and whoever is appointed as energy secretary, then look at what’s happening in Pakistan[1].

Winter is coming. Short-term measures must prepare us for winter, but the long-term perspective is vital. Not only do we need to decarbonise but reducing demand for energy for heating is achievable. For too long the benefits of improving Britain’s housing stock have been neglected. We don’t need more spiel and the hands-off approach should be for the dustbin.

[1] https://www.msn.com/en-gb/news/world/pakistan-floods-more-than-450-children-killed-in-e2-80-98horror-show-e2-80-99-with-death-toll-feared-to-rise-further/ar-AA11uXnL

Platform & Mockery

It’s accurate to say that there will be a new leader of the British Conservative Party. An announcement is expected and there’s not much that can derail it. Up and down the country the members of that national political party have been twiddling their thumbs and marking ballot papers.

To me, the use of the word “new” is to stretch the langauage to the far corners of the Earth. The politician backed by the pollsters to win is nowhere new on the block. What’s fascinating is the two Conservative candidates for Prime Minister (PM) have been spending their time rubbishing the record of the last decade of Conservative Government. Funny old world.

In a huff from starting blocks The Mail, newspaper, has screamed unfair because mainstream comedians love to mock the likely winner of the Conservative Party’s selection process. This is mega silly. Mocking our leaders is as British a British can be. Recently, I was in the V&A[1] in London and I couldn’t resist a look at the Spitting Image puppet of Margaret Thatcher. If anything, in terms of mockery, we are getting tame. Leaders of any poltical creed are fair game in a free country. Often the humour is spiky but shines a light on a truth. That is so much better than the playground bickering and insults that are gaining momentum among the far right and left.

Exercising a lot of media pundits is the question of when there will be a General Election. The drop-dead date is at the end of 2024. So, practically, any new British PM will have not much more than 18 months to make a big show, and shift the agenda onto their ground. Tough task at any time.

Today’s News suggest that this natural poltical ambition will be incalculably difficult to deliver. The phrase: “Events, my dear boy, events,” comes to mind. When asked what troubles a PM, former PM Harold Macmillan[2] answered with those words. It’s become a popular quotation and so true.

Past events linger. Banking crisis, Brexit, COVID and international tensions. Current events are unpredictable. War, Energy prices, Inflation and the Climate Crisis. Future events often give no notice. None of these are small. All we need now is another troublesome Icelandic Volcano to burst into life.

By the way, Harold Macmillan was the target of wonderfully sharp mockery by a cartoonist called Vicky[3]. His works are a good study of British culture and society in the 1950s – 60s. I expect poltical cartoonists will be happy to mark this day as a good one for future work.

POST 1: There are 605 days until the 2nd May 2024, a likely date for the next General Election. The last one was 998 days ago, meaning we are 62% of the way through the current Parliament. Much can happen.

POST 2: It is my great pleasure to introduce the new British PM Liz Truss ‘Cheese Speech’ to Conservative Party Conference 2014 – video Dailymotion

[1] https://www.helenacurrycreative.co.uk/margaret-thatcher

[2] British Conservative politician who was Prime Minister from 1957 to 1963.

[3] https://www.cartoons.ac.uk/cartoonist-biographies/u-v/VictorWeisz_Vicky.html

Do something

Understanding British reticence is part of understanding Brexit. This phenomenon is not new. Not new at all. It maybe culturally embedded. There’s an array of wonderful cartoons from Punch on the theme.

The late 1950s were peppered with such an inclination to paint a colourful picture: “You’ve never had it so good[1]” but closing a blind eye to unemployment, industrial stagnation, threatening Russians, and the aftermath of Suez. Substitute inflation for unemployment and Brexit for Suez. It’s all too familiar.

The early 2020’s is the era of unwillingness to do something about Brexit or talk about its damaging impact. All the time knowing that an accumulation of evidence all points one way. The nation is playing the 3-monkeies, in pretending that the facts don’t matter. It’s a lack of moral responsibility on the part of politicians who refuse to accept facts, looking the other way or faking ignorance.

Today, we see that Britain’s Brexitism, if there is such a word, is dedicated to a permanent anti-European sentiment. We see it in national newspapers like The Telegraph all the time. We hear it from would be political leaders. I’d even say we smell it.

This is done by politicians and establishment figures to preserve the sanctity of the 2016 referendum and as a means of explaining daily political failures. There must be a wild European ogre on the horizon otherwise the danger is that people might blame Brexit.

There are more successful times when the national code was discretion, pragmatism, and realism. These options have been thrown out of the window by the true believers in power. Such wise options are seen as “lefty” or U-Turns.

Johnson’s Government has capitalised on British reticence. Indications are that his successor will do the same, if not more so. The ideology of Brexitism is an over-simple belief. Which maybe explains why it spawns so many meaningless political slogans.[2] If it was complicated or in touch with reality the ideology would be more difficult to sustain. Hence the Brexiters inclination to capitalise on British reticence.

The means to break this destructive chain, whose links go from bad to worse, is radical change. The important part is that it must be change that the British people want. I suspect the conditions of that change are brewing. The next General Election must not be more of the same but under a different colour. There must be higher matters on the table when the country next decides.

POST: For balance, I’ll put the case for the Brexiters. The Brexit project has failed because the “liberal” and “lefty” establishment and outsiders that have sabotaged it. That is the civil service, the unions, the opposition parties, the judges, lawyers, the media, including the BBC, the banks, including the Bank of England, industrialist, immigrants, local government and anyone who isn’t a Brexiter and those countries that are punishing the UK. If that doesn’t work they then blame Harry and Megan. Yes, it is that mad.

[1] Conservative slogan in 1959.

[2] Get Brexit Done. Brexit means Brexit.

Sun & Wind

My morning routine includes switching on the radio. That already marks me down as being of a certain age. News and current affairs isn’t always a cheerful way to start the day but, at least, as a result I feel a bit better informed about the world and its ways.

Listening to Vince Cable[1], at the end of the BBC’s Today programme this morning[2] I agree. [At run time 2:37]. Sir John Vincent Cable, yes that makes me even more inclined to listen to him, has a wealth of knowledge and experience and puts his case well.

Yes, we have had four major shocks to the British economy. The banking crisis, Brexit, COVID pandemic, and war in Europe. Amongst these Brexit was self-inflicted and has cost the UK a great deal. To lump on top of all that we have had incompetence in Government the like of which hasn’t been seen for decades.

The blatant idiocy of suggesting that the answer is fracking to produce more gas and more exploratory drilling is needed are the ultimate in short-term planning. The UK is not the US. Believe it or not, there is a global climate crisis and burning more fossil fuels makes it worse. Short-term planning is one of the reasons that the UK economy is underperforming. Proposing more of that approach is to further embed reckless incompetence.

Vince is right. We should make it easier to build onshore wind turbines in the UK. I’m not saying completely deregulate the planning systems. That would be entirely foolish. However, in local development plans we have ridiculous absurdities that name wind turbines and solar farms as a particular danger to the character of the landscape. So, any proposal that is brave enough to come forward gets slapped down immediately. Local politicians run for the hills.

Like all such regulatory issues, there needs to be a balance struck. There are numerous places in the UK were wind turbines and solar farms have a great deal more positive impact than negative. Proposals for renewable energy developments should be given a leg up. The UK is blessed with renewable energy assets in wind, seas, rain, and enough sun to make a difference.

I am first in-line to defend the beauty of our countryside but not everywhere is equal in that respect. Not only that but compared to nuclear power stations of any size, wind turbines and solar farms can be removed after a life of service with little sign of their former presence.

[1] https://en.wikipedia.org/wiki/Vince_Cable

[2] https://www.bbc.co.uk/sounds/play/m001bbsv

Holiday from reality

All aboard for the fantasy rollercoaster. We are in for a new season of irrational excess. The winner of the competition for UK Prime Minister (PM) is to be a character out of Westminster folklore.

Mythology is powerful. It permeates our lives in the snap assumptions, unconscious bias, and it races through the pages of the tabloid press and social media.

I’m culpable. It’s that click-bait headline that stimulates an instant response. It can be as few as six words. “PM chews gum and walks too.” Immediately, the instinct to disagree is triggered in my mind. How can that be? So, I unwittingly join an avalanche of rancour and feed the machine.

People are more than the professional polarisers would like us to think. However, the idea that is a let-out clause for preposterous nonsense is not one that should stick. A candidate who wins votes by peddling blatant right-wing gibberish is dangerous.

For all the Brexit promoting fiction he is guilty of, in this case, former Minister Michael Gove[1] is right. It’s a nice journalists turn of phrase, being “on holiday from reality”. This is addressing Truss’s proposal to cut taxes as inflation takes-off and the cost-of-living presses hard on us all.

Pertinent when the Johnson, caretaker PM is holidaying. His would-be successor likes to pretend to be a next generation Thatcher but never has such a claim been more wayward. Thatcher wasn’t an advocate of ungrounded economics.

Back to the human capacity to believe political fantasies. It’s hard for progressives and more rational thinkers to accept but it’s real. Once upon a time there was a “centrist” wing of the UK Conservative Party that would debunk childish economic fictions. With a few exceptions, those people are now mute or considering their futures.

Since the 2016 EU referendum, the UK Conservatives Party has been transitioning into a version of the UK Independence Party (UKIP). These crude libertarian junkies have taken control. Brexit is not permanent. In fact, healthy national politics is dynamic and in-tune with what people are thinking. Unfortunately, a small self-selecting constituency is picking the UK’s next PM.

Get ready, the national rollercoaster ride is about to get a lot scarier.

[1] https://www.msn.com/en-gb/news/uknews/michael-gove-says-liz-truss-is-on-holiday-from-reality-as-he-backs-rishi-sunak-for-pm/ar-AA10Rtgq

Energy cap

The letters “Of” have been used as shorthand for “Office of” in the names of several regulators in the UK. There are at least two of them that are gaining an unparalleled reputation for incompetence[1]. Maybe, I’m being unfair. Afterall, a regulator can only do what the legislation that created it will permit it to do. They are not lawmakers. They can only interpret the law in respect of their own responsibilities. That law, however amended, is relatively stationary in the face of events.

One way of explaining what has happened is to admit that the ethos and rules in place were devised to serve past times. In the world of services provided by industry, the environment has changed dramatically, in more ways than one. A cacophony of events, Brexit, recuring political ineptitude, war, and climate change have made the framework created for British regulation obsolete.

It’s like trying to use a Thatcher / Blair era computer in the world of today’s internet and mobiles.

Now, what’s clear is that we have a bunch of Ministers who haven’t a clue what to do when faced with this problem. Conservatives keep a picture of Sid[2] on their bedroom walls.

The call has come from the Greens to nationalise everything[3]. This too is an inept solution to current problems. This was the dogma that Labour once held dear. How the political landscape changes.

Despite the calamities befalling us, we must get off fossil fuels. Again, Conservative politicians are on the wrong page. Britons needs encouragement to switch and insulate[4] not to stoop to fossil fuels industry lobbyists. The notion that the solution to a painful recession is to burn the future is absurd.

Let’s get out of the rut. Defending, and being constrained by a framework of organisation that’s out of date is no use to anyone. That is why the Liberal Democrat proposal to freeze the energy price cap is a good start. We desperately need to buy time, with escalating inflation, to come up with a new regulatory scheme. One that works for customers. One that works for the environment. One that works for you and me.

[1] Ofgem – the Office of the Gas and Electricity Markets and Ofwat – the Water Services Regulation Authority

[2] To encourage individuals to become shareholders, the gas privatisation offer was advertised with the “If you see Sid…Tell him!” campaign.

[3] https://www.bbc.co.uk/news/uk-politics-62577830

[4] Home insulation has been slashed by the current Government

The past

What’s disheartening about the current political debate in the UK is that it’s so backward looking. Now, I appreciate the real impact of demographics. Yes, we have an aging population and the trend for population ageing is continuing[1]. So, the audience of voters that existing politicians are trying to seduce is predominantly over 50 years old. This shapes the message that they send out.

If I go on about how much the world has changed since my school days, I’ll bore your paints off. I have endured such stories from local Councillors, relatives, and work colleagues for many a year. Nevertheless, perspective can be lost if I don’t make a few points on this subject.

I was surprised to read that the world’s first e-mail is over 50 years old. So, that medium that has taken over our lives and practically displaced post office delivered mail and that ancient artifact, the letter, is a decade younger than me. Of course, the use of e-mails took a while to get going and so it’s the time since Windows 95 when the greatest change has taken place. The first website is just over 30 years old. Now, it’s impossible to imagine a world where everyday information is not displayed on a screen of one size or another.

The transition has been from a predominantly analogue world to an almost exclusively digital one.

What I find amusing is occasionally having to explain analogue technology. Although some long-standing devices have endured. Mechanical wristwatches continue to be valued and vinyl records are making a resurgence.

Before I get side-tracked the core of my argument is that we have been through a monumental transition in my working life. It’s happened at pace. It’s happened well ahead of political thinking. OK, savvy political operators have populated social media. Although, many campaigning efforts are derisory and ineffective. We are in an era when about 242 million iPhones are sold annually. Not doing social media is not an option.

If it’s worth engaging in political debate it should be about what happens next. What’s behind us can teach us but it’s not a pattern for the future: “The past is a foreign country: they do things differently there.[2]” Endlessly raking over the past can be a huge distraction. Thatcher, Blair, and Ashdown were of their time. The global issues they faced were of their time.

Instagram is 12 years old; Snapchat is a year younger, and we have only had TikTok for 5 years. These social media platforms are the places where younger people get their daily news. On that basis they form opinions and may act on those opinion.

The further monumental transitions that are coming our way ought to occupy, at least, a part of contemporary political thinking. That doesn’t seem to be happening. If the UK wants to play a leading role on world stage our traditional myopic attitudes need a good shake up. If we intervene on global issues promoting 19^th century views the results will be disastrous. Be warned.

[1] https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/bulletins/populationandhouseholdestimatesenglandandwales/census2021#age-and-sex-of-the-population

[2] Leslie P. Hartley (1895-1972) British novelist and short story writer

Red Tape

I know. Why explain? When people only hear what they want to hear? On the scale of right-wing political good or bad there are words that can make a slogan to suite any blank page. Shape any mood. Frame a slogan around “tax cuts” and you are at the happy end of the spectrum (blue). Frame a sentence around “red tape” and unhappy faces will appear (red).

My heart sinks when I see British newspaper headlines like: Truss pledges EU red tape bonfire[1]. It’s a celebration of ignorance and pessimism. The politics is crude. It’s kindergarten. Dam the past and paint a picture of gleaming utopia ahead. Comic book stuff. There’s never been a quicker way to appeal to the Conservative Grumpy[2] family.

In earlier articles, I’ve made it clear that 6-years of Brexit has meant more “red tape” rather than less. That is red tape that greatly impacts UK exports, imports, livelihoods, jobs, and prosperity.

For Leavers, the Brexit project was about cutting so called red tape in the belief that administration, laws and rights are the ultimate problems. However, the post-Brexit UK is presenting more complex bureaucracy, producing poorer results at a greater cost than before.

It’s always peculiar when legislators blame legislation for our ills.

When the UK was a member of the European Union (EU) countries worked together, removing trade barriers, and promoting free movement to create a better future. Now, the UK is determined to continue to reverse that good work much to its own detriment. Plainly, we are a country determined to sanction itself. All because it opens the political convenience of being able to blame others.

These years are the topsy-turvy years. A Government that tables a no-confidence vote and then cheers a discredited Prime Minister[3]. A zombie Government then limps on while a few thousand people mull over our future. Ministers boast of their achievements but then dam everything that has gone in the past.

It’s unfortunate but this generation of uncivilised minnows is in charge. At least for the moment.

POST 1: False words compound the problem of understanding. There is no EU “red tape”. The UK left the EU. What we have is UK law. Law made by the politicians that who are damming that law. Yes, parts of UK law have been derived from EU law. That is law that the UK helped make while in the EU.

POST 2: Concerns about the removal of consumer protection are being raised widely. Believe me, you will miss that red tape once it’s gone | Money | The Sunday Times (thetimes.co.uk)

POST 3: The list goes on and on UK chemicals sector hit by £2bn Brexit red tape bill | Financial Times (ft.com)

[1] https://www.msn.com/en-gb/news/uknews/uk-leadership-candidate-truss-pledges-to-ditch-all-eu-laws-by-2023/ar-AAZSeN6

[2] My coffee mug is from the Mr Men, Little Miss series (2017).

[3] https://votes.parliament.uk/Votes/Commons/Division/1351

ITV Debate

For anyone interested in public affairs watching a debate of candidates for Prime Minister (PM) should be a pleasure #ITVdebate. It’s the summer heat. Pleasure it certainly wasn’t. It was a formulaic event that was enough to make milk curdle. The toxic blue-on-blue punch-up was uninspiring. A college debating society might have made better peak time TV.

The matter of who will be the British PM in only 7 weeks’ time is important. As the first question put it, we are at the start of an actual cost of living crisis. Unfortunately, Sunday night a lot of fairy tale economics were on show. Rubishing the past took front stage. All Conservative candidates said they would not have the caretaker PM Boris Johnson in a new cabinet.

All candidates vaguely rattled on about Brexit opportunities. When asked if the winner needed to call for a General Election to consolidate their mandate they all said – no.

Tom Tugendhat MP stood on a hill shouting “clean start,” but it was as if no one was listening. He said he was in mortal fear of the leader of the opposition. He shifted around in an uneasy manner.

Liz Truss MP wanted to emphasise that she was “honest” but admitted to not being “slick” as she sideswiped the other candidates. Here neo-Thatcher stance is thinning as quickly as it arrived. Word of the night was – bold.

“Time for a change” was Kemi Badenoch MP’s mantra. Being brave and asking for unity are all designed to create good vibes. The Twittersphere has dubbed her #badenough as if to mark that as the criteria for winning. To target the giveaway candidates Badenoch said there’s “no easy option”.

As the front running Rishi Sunak MP, former Chancellor, got the most kick backs from other candidates. “I want to be honest” and responsible were his themes. He put the stress on prudent conservatism, a phenomenon that may not exist anymore.

Penny Mordaunt MP was all about saying she’s a team player but not acting like one. Asking for an innovative approach and that the system is broken is appropriate. Sadly, filling the vacuum with nothing much hasn’t helped her case. She’s the spend, spend, spend candidate. She told a fib about the state of the polls too.

Robot like, Truss wanted it known that she has “served” and will stand up to Putin. She stressed her legacy of trade deals and getting things done. Her project fear was to mention the inflationary spiral of the 1970s. Truss and Mordaunt can across as arrogant and patronising by calling for change but being unclear what change is needed.

Badenoch was not ashamed of her role in Government. Strangely for a politician she hit out at the others by saying “talking is easy” Tugendhat is a fan of nuclear power and never misses an opportunity to mention his military service.

Sunak was the only one to come across as relaxed. Open shirts are his uniform. He was unshaken as he skilfully batted back all the balls bowled directly at him. If there was a winner – he was it.

70s

There are echoes of the past in what’s happening now. One of these echoes is the exclamation that it’s getting more and more like the seventies. It’s a reaction to the turbulence and uncertainty that is all around. Especially when the spectre of inflation and recession is looming over us.

It’s easy to have mixed feelings about that decade. It can be said that the sixties were more revolutionary when it comes to the explosion of progressive attitudes and societal change.

The seventies weren’t a homogeneous period. In Britain, those turbulent 10-years culminated in a major political transformation as Thatcherism kicked-off in 1979. Romanising the seventies is foolish. That’s particularly the case when drawing comparisons between the here and now.

Life expectancy is one indicator[1]. The enormous improvement since the 70s is self-evident. What’s concerning about the situation is being put in jeopardy by a considerable slowing in these figures in recent years.

This chimes with lived experience. I remember pubs so full of smoke that the walls were stained, and a fog hung over the bar. Health and Safety legislation too. Car seatbelts and motorcycle crash helmets all helped reduce early fatalities. Workplaces have improved dramatically. Shivers run down my spin when I consider some of the toxic chemicals that were used in engineering and agriculture.

No way should anyone sane want to go back to the full 70s experience. That’s not to say there are cultural highlights that made a positive contribution to life in the UK. Punk rock coinciding with the Queen’s jubilee created a world of colour and vitality that has been lacking in the 202os.

Star Wars fans will no doubt cite Star Wars. There were some dam good movies made in the 70s. I’m seeing the mirror ball rotating, as the music from Saturday Night Fever rings in my ears.

On the technology side it was the time when the ground was broken. Microsoft and Apple own their success to the availability of early digital “chips”. A degree of that came from the strides made as the Apollo programme forced the advancement of digital technology. The Cold War played its part too.

On a personal note, motorcycles played a pivotal role in my decade. Growing up in a rural community the importance of mobility cannot be undenied. It was fun. It was freedom. It was exciting. I’d watch, and sometime marshal at road racing, grass track and motocross meetings[2]. I’m only here because a mate pulled me out of the path of an oncoming Laverda[3] side car outfit at a grass track meeting near Mere.

From 1970, to the day 1980 arrived much changed. Summing it up there were better times ahead.

POST: There were better cars ahead too. But I still have affection for my bright red Sunbeam Imp Not a Mini but a Sunbeam Imp | Articles | Classic Motorsports

[1] https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/lifeexpectancies/datasets/nationallifetablesunitedkingdomreferencetables

[2] https://www.acu.org.uk/

[3] https://laverda.club/