Category: Trade

The Power of Numbers

If I was to give advice to a politician in power, it would go like this: numbers matter but don’t let them dictate the right course of action. Of course that’s fully loaded advice. The right course of action is subjective. That can mean expert or non-expert judgement of such a great wide range of felicity that it doesn’t bear thinking about.

For a long time, there was a mantra that organisational policy should be data driven. There’s quite a bit of wisdom in this statement as an alternative to arbitrary opinion and volatile reactivity. There’s no doubt an organisation is better off if it has a few able number crunchers.

I can recollect times when I’ve been advised to look favourably upon one way of presenting information as opposed to another way. Not that either was in error but that one way would reflect better on the management of an organisation. This is a perfect example of Lies, Damned Lies and Statistics[1]. Which is often nothing to do with lies but rather the presentation of information. Some would say manipulation.

Sacking a head of a Bureau of Statistics because the numbers their technical people produce are not favourable, well that’s one way to go. It’s the sort of action that’s take in devoutly authoritarian countries. Better not be embarrassing the higher ups at any cost.

Suddenly, I’m taken back to my “O” level history lessons. Our enthusiastic secondary school teacher who wanted us to love the Russian revolution as much as she did. It’s a fascinating but brutal period for Europe. Here I’m thinking of Stalin’s Five-Year Plans. A Russian official, in the late 1920s, would have been very unwise indeed to produce anything other than favourable statistics. However, for all the cruelty and suffering Russia did archive a rapid industrialisation.

Numbers matter. My dictum. If they are wildly inaccurate or manipulate numbers, they are worthless. Even presentational they are worthless because few will believe. Credibility is key but that’s often the issue. Who do you trust?

My domain has been aviation safety numbers. The analysis of these numbers can be of significant consequence. Going back to that data driven philosophy, if the numbers are wrong the direction of travel will be wrong. When policy making has an objective basis then it’s much easier to justify to a wide audience. There are advantages in having trustworthy numbers.

In the ideal world, a degree of independence is essential. This is so that the producers of statistics and associate information can endeavour to be accurate and unbiased. Doing this without fear or favour to any interested party can take some resolve. It’s only possible in an environment that is both inquisitive and respectful.

I say “degree of” as an observation. Just as investigators often follow the money trail, it’s as well to consider who is paying the bills. The analyst’s salaries must come from somewhere. Again, in an idea cultural environment where integrity and trust are valued, it’s not those who are funding the number crunching work that should determine (dictate) the results. Let the numbers speak.

The ideal world doesn’t exist but it’s clearly unwise to swerve away from it at speed.

[1] https://www.york.ac.uk/depts/maths/histstat/lies.htm

Why 12,500 Pounds?

Regulation is a strange business. It often means drawing lines between A and B. Bit like map making. Those lines on a map that mark out where you are and the features of the landscape. You could say that’s when all our troubles start but it’s been proven unavoidable. As soon as our vocabulary extends to words like “big” and “small” someone somewhere is going to ask for a definition. What do you mean? Explain.

For a while you may be able to get away with saying; well, it’s obvious. That works when it is obvious for all to see. An alpine mountain is bigger than a molehill. When you get to the region where it’s not clear if a large hill is a small mountain, or not then discussion gets interesting. Some say 1000 ft (about 300 m) others say much more. There’s no one universal definition.

[This week, I drove through the Brecon Beacons. Not big mountains but treeless mountains, nevertheless. Fine on a clear day but when it rains that’s a different story. This week Wales looked at its best].

Aviation progressed by both evolution and revolution. Undeniably because of the risks involved it’s a highly regulated sector of activity. Not only that but people are rightly sensitive about objects flying over their heads.

For reasons that I will not go into, I’ve been looking at one of these lines on a regulatory map. One that’s been around for a long time.

I cannot tell you how many discussions about what’s “minor” and what’s “major” that have taken place. That’s in terms of an aircraft modification. However, these terms are well documented. Digging out and crewing over the background material and rationale is not too difficult, if you are deeply interested in the subject.

The subject I’m thinking about is that difference between what is considered in the rules to be a “large” aeroplane and a “small” aeroplane. Or for any American readers – airplane. So, I set off to do some quick research about where the figure of weight limit: maximum take-off weight of 12,500 pounds or less originated for small airplanes (aeroplanes).

I expected someone to comment; that’s obvious. The figure came from this or that historic document and has stuck ever since. It seems to work, most of the time. A confirmation or dismissal that I wanted addressed the question, is the longstanding folklore story is true. That the airplane weight limit was chosen in the early 1950s because it’s half the weight of one of the most popular commercial transport aircraft of that time.

There is no doubt that the Douglas DC-3[1] is an astonishing airplane. It started flying in 1935 and there are versions of it still flying. Rugged and reliable, this elegant metal monoplane is the star of Hollywood movies as well as having been the mainstay of the early air transport system is the US. Celebrations are in order. This year is the 90th anniversary of the Douglas DC-3[2].

What I’ve discovered, so far, is that the simple story may be true. Interestingly the rational for the weight figure has more to do with economic regulation than it has with airplane airworthiness. The early commercial air transport system was highly regulated by the State in matters both economic and safety. Managing competition was a bureaucratic process.  Routes needed approval. Thus, a distinction established between what was commercial air transport and what was not.

POST 1: There is no mention of 12,500 pounds in the excellent reference on the early days of civil aviation in the US. Commercial Air Transportation. John H. Frederick PhD. 1947 Revised Edition. Published by Richard D. Irwin Inc. Chicago.

POST 2: The small aircraft definition of 12,500 pounds max certificated take-off weight first appears in US CAB SPECIAL CIVIL AIR REGULATION. Effective February 20, 1952. AUTHORIZATION FOR AIR TAXI OPERATORS TO CONDUCT OPERATIONS UNDER THE PROVISIONS OF PART 42 OF THE CIVIL AIR REGULATIONS. This was a subject of economic regulation in the creation of the air taxi class of operations.

[1] https://airandspace.si.edu/collection-objects/douglas-dc-3/nasm_A19530075000

[2] https://www.eaa.org/airventure/eaa-airventure-news-and-multimedia/eaa-airventure-news/2025-07-17_dc3_society_celebrate_90_years_douglas_dc3_airventure25

Tariff Turbulence

Tariffs are back in the daily News again. In fact, they never went away it’s just that more attention getting events have been happening. Tariffs were something specialist trade negotiators talked about before this year started. Now, the word is commonplace.

The simple assumption is always made that everyone knows what the word means. Apparently, the origins of the word are Arabic[1]. Linked to information. Now, it’s a fee that someone must pay. The important bit being “must”. In this context it’s about the import and export of goods. The relations between countries.

A presumption made by politicians, who like these bureaucratic instruments, is that they can help protect a nation’s domestic industry from competition from other countries. Thus, tipping the balance away from investments made abroad to those made at home. This chimes with nationalistic instincts.

If only it were as simple. Globalisation is a reality. Kicking against it has its attractive points, if it weren’t for the overall benefits that it has delivered in recent decades. Much of the technology we take for granted is available at low prices because of where and how it’s manufactured.

One advice given out by banks is to avoid knee-jerk reactions. In other words, the ups and downs and on and offs of changing tariff regimes may seem to demand an immediate response. However, it could be wiser to ride out the turbulence of these early months of 2025. To sit back and let the dust settle.

Politically driven efforts to disrupt global trade are likely to impact both importer and exporter. It doesn’t take more than a few minutes walking around a large warehouse store to see goods originating from all over the world. That is quality goods that are offered for sale at astonishingly low prices. It astounds me that I can easily buy a perfectly good basic kitchen microwave for £50.

I hate to say it, but I don’t think there’s anyway whatsoever that a domestic manufacturer could compete with that electrical product’s price and quality even if there was a 100% tariff placed on its import. The story vacuum cleaners is one of designs emanating from Britain but being made in Asia. Globalisation is a reality.

I will make at least one concession. That’s the environmental one. Shipping vast qualities of raw materials and goods around the globe has a real cost. An environmental cost. So, it would be wise, at least, to investigate if domestic production is a viable prospect before automatically assuming an import is better. This is a matter for both industry and public policy.

Not only this point but for some critical products, say steel and semiconductors, there should be a domestic capability even if it’s only aimed at meeting a fraction of the potential demand. Strategic needs are not trivial.

Are tariffs a good way to shift the global balance sheet? To me the answer depends on adopting either a short-term or long-term perspective. Certainly, in the later tariffs are a foolish measure. My recollections come from the history of subsidised industries in the 1970s and the poor products that resulted. It a sorry saga of designed decline. One quick look at the story of the British Leyland Motor Company (BLMC) is a good lesson.

I know for a liberal I sound Thatcherite but competition brings better outcomes than protectionism. That generally depends on a level playing field. Yes, tariffs are a form domestic protectionism and that’s much like a permanent subsidy. Trouble is that permanence is never permanent.

Trump maybe a part-time socialist. If not by word then by action. For the time being the tariff humbug will continue to command attention. In the longer term – I think not. Relearning what has been learnt in the past.

[1] https://blog.collinsdictionary.com/language-lovers/the-fascinating-journey-of-the-word-tariff/

Probabilistic Predictions

Uncertainty is the only certainty. Not a radical statement. As long as I live, dealing with uncertainty is inevitable. Unavoidable everywhere. I wouldn’t have it any other way, even if it can be uncomfortable.

Prominent Ancient Greeks may have travelled to Delphi for advice as to what the future may hold. There’re those three enigmatic witches who warn Macbeth of his fate. History and fiction are littered with references.

For me, I can pick-up a newspaper and look for a daily astrological prediction. One I like. I can flick around social media and see more prophecies than ever. Mostly gibberish. There are those convinced of their foresight.

Despite a cynical disposition towards the above, science can be applied to the world of uncertainty. Generally, the proposition is that an element of the past and present will be reproduced in the future. This is not absolute. However, human engineered systems tend to behave with a degree of predictability.

Empirical methods, where society collects data from the past and present, can be useful in trying to forecast what may happen next. The more deterministic the systems under study, the more useful acquired data can be. For these, forecasting challenges mount for the new, novel, or radically altered.

I’m writing this given the interest there is in probabilistic safety. There are figures that hit the headlines that are almost incompressible. If the rationale behind the numbers is not clear then incorrect assumptions result. Tiny numbers from 1 x 10-6 to 1 x 10-9 are quoted in the News (SI Units). What do they mean? Let’s start with simple probability.

If an occurrence is certain then a numerical value of “1” can be given to it.

Absolute certainty is a rare thing. I can say that the Sun will rise tomorrow, and most people will take that as a statement of certainty. Intriguingly there’s the most incredibly improbable case where the solar system is thrown into instability and the Sunrise isn’t as expected.

If an occurrence never happens then a numerical value of “0” can be given to it.

Absolute impossibility is only possible with absolute knowledge. So, again it’s rare. I can say that human time-travel, to and from the distant past, is only fiction to next discover that a way has been found.

Let’s say we live in a world where the probability of occurrences ranges from the 0.99999, with ever more “9s”, to a number as small as 1 x 10-30[1]. A quecto.

These extreme numbers are nice for physicists and astronomers to play with, but they are outside normal engineering practices. As yet, we do not have the means to operate at the level of these limits. Time will tell. Or I maybe wrong.

By the way, I used the word “occurrence” above to denote anything that can happen in an instant. When talking about undesirable happenings, that can mean an incident, accident, mishap, slip, failure, or error. Each of these has a definition. Often more than one.

Next. I’ll go back to the tiny numbers more commonly quoted.

POST: For extraordinary numbers we need look no further than the nimble electron. So far, the best measurement for the life of an electron suggests that one now will still be around in 66,000 yottayears (6.6 × 1028 yrs). That’s about 5-quintillion times the current age of our universe. 

[1] https://www.nist.gov/pml/owm/metric-si-prefixes

A Day at the Bath and West Agricultural Show

It’s a part of my childhood. It’s fascinating to see how it has changed over the decades. There’s hardly a year go by when I don’t go to at least one agricultural show in the UK.

Last year, I visited the Lincoln show and the Newbury show for the first time. Most of the summer rural shows in the UK have a long history that is kept going by an Agricultural Society. The bigger ones have dedicated show sites and some permanent buildings. The smaller ones can be a large field that’s set aside for a couple of days a year. Each show reflects the nature of the farming, the crops, the animals, in its region.

This Friday, my day out was a trip to the Bath and West show[1] in Somerset. The show site is large. Spread over a south facing gently sloping hillside. To the south of the town of Shepton Mallet, at the base of Prestleigh Hill.

That’s my family connection. My mother grew-up on a small farm in Prestleigh. It’s not named on the map anymore as a couple of the buildings are now dwellings. Yew Tree Farm was situated on a dangerous bend on the main A371 road where traffic must veer right as it comes down the hill. The alternative being to hit a wall and end up in the farmyard. If I remember correctly, my grandad got free tickets to the Bath and West as they used one of his fields for a car park. As children we would hop over the fence to go straight to the show.

This year, the ground was as hard as rock underfoot. Spring has been unusually dry. There’s more dust than mud. That’s good for the show. There have been years when the wind and rain have swept the exposed show site and blown down tents and made mini rivers. Making welly boots mandatory.

What has changed? Although this annual event is predominantly a showcase for West Country food and farming it’s gone beyond that formula to become an atypical half-term family day trip. It’s no longer a place where local farmers strike deals with machinery salesman or learn about the latest breeds or cropping methods. That post-war image of mucky tractors and trailers turning up in droves is for vintage postcards.

What’s nice is that there’s something for everyone with an interest in the English countryside. Beekeepers, cider markers (and drinkers), cheese makers, traction engine enthusiasts, rare breeds, heavy horses along with tea and cake in the WI tent.

Sheep started big this year. Cattle and pigs less so. Again, the word is enthusiasts. Breeds rare and commercial ones all cleaned up for display and judging. Handlers, young and old, parading their animals for picky judges to prod and score. Then colourful rosettes displayed with pride.

It’s not a cheap day out for townsfolk and county people anymore. Car parking might be free but the price of entry and just about anything on-site can quickly rack up. Everywhere, even in a field, we have become a cashless society. A tap here, a tap there, no longer do we dig into our pockets for loose change.

For the good weather and crowds, I expect this year’s 3-day event will be evaluated as a great success. Keeping the tradition going.

[1] https://www.bathandwest.com/royal-bath-and-west-show

Peaceful Border

It’s superfluous to say so. Canada is not the US, and the US is not Canada.

It quickly becomes clear. I’ve been fortunate to visit places east-west and north south. Although not the far snowbound North. The two countries do share geography. Rocky Mountains stretch across the North America. From British Columbia to New Mexico. The Great Plains span North America. A stark contrast to the mountains, as a huge expanse. In the East, the rolling landscape of the Appalachian Mountains runs from Newfoundland to Alabama.

It’s not the same with social and economic geography or history. A profound difference has been forged by Canada’s citizens over a couple of hundred years.

If we look back to the late 17th and early 18th centuries the new world was a hugely different place than it is now. Britain, France, Spain, and their allies were fighting over vast territories. European conflicts translated into competition and trade wars. Eventually, America colonialist brought about a revolution, so there would be no need for royalty, aristocracy, or an imposed church. Rejecting their British masters, even if they did keep their system of laws.

At the start of the 19th century, the US did invade Canada with a couple of conflicts. So, the idea that the US may wish to annex a part, or all of Canada is not entirely new. I’m going to have to read up on the Battle of Stoney Creek of 1813. It seems a namesake of mine played a pivotal role in preventing the US from taking Canada[1]. No relation – I’m (almost) sure. Irish heritage.

My assumption is that US President Trump is doing what he has done times before. Mark out an extreme position from which then to shape future negotiations. That’s not so mad as it might appear. It’s not nice when considering the cordial relationships that have characterised so much of the recent past. Kicking at the sides of an ally.

Stretching over thousands of kilometres (or miles if you prefer), the boarder between the US and Canada is one of the most peaceful in the world. To reignite conflicts of a couple of hundred years ago is not a wise option. I’m sure Canada could call upon a great deal of support if the worst-case scenario were to prevail.

Mutuality may not be fashionable. It needs to be made fashionable, again. The notion of a win-win scenario where both parties benefit, it’s real, it’s not mythical. Both US and Canada are sovereign. It’s best for the world that it stays that way.

[1] https://www.biographi.ca/en/bio/vincent_john_7E.html

Relationship with the EU

Monday, Monday[1]. It’s a wonderful 60s song. Harmonies and mood are perfect. I wonder if the harmonies and mood will be perfect for the Prime Minister (PM) on Monday. Already the Sunday Press are setting the stage for Monday’s performance.

Reset, recalibration, reheat, rekindle, re-whatever. It’s a moment when relations between the UK and the European Union (EU) can make realistic progress[2]. In world full of uncertainty (could be a song in that one), for once the direction of travel is a constructive and positive.

I think the word “deal” is getting overplayed. Indications are that there’s no fundamental shift from Brexit meaning Brexit, as one former PM liked to say. In fact, the current PM is being highly cautious in the light of his Party’s reading of the latest opinion polls. For no sane reason I can think of, the swivel-eyed loons of the far-right are making hay.

It’s astonishing me how dim-witted the Conservative Party is in objecting to something when they don’t even know, for sure, what it is. Mind-blowing. And the rum cult of Reform Party doing the same with extra bile. What a load of prehistoric fruit loops.

Brexit supporters are spreading misinformation, again. Saying that UK has no influence. It’s true, the UK doesn’t have votes in the European Council or Parliament, but significant influence can be exercised on standards, and regulatory guidance, nevertheless. A better “deal” can bring much greater influence. Absolutely vital in the digital world, and for the UK, a country with a services-based economy.

Brexit has cost the UK dearly. The UK Treasury would have billions more in its coffers if the 2016 referendum had never taken place. The standard of living of every person in the UK is lower because of Brexit bungling. Ideally, that great mistake is an event to be written up for the history books and then forgotten.

On top of the above, uncharacteristic moves in the US, with Trump tariffs there’s nasty hit at the UK’s future prosperity. There couldn’t be a better time to repair relationships with the UK’s nearest neighbours. The countries with which we share most of our long history.

Even for those on the political right, practically, the EU is never going away, so until the day the UK rejoins the block, it’s wise to have the best possible relationship in all matters. Goods, services and people need to connect as a case of mutual benefit.

It’s time for hope. An optimistic tone should be set. A smile. Let’s hope we are singing Monday, Monday so good to me, Monday morning was all I hoped it would be. Naturally, that there be no crying, come Monday evening.

[1] https://genius.com/The-mamas-and-the-papas-monday-monday-lyrics

[2] https://www.independent.co.uk/news/uk/politics/brexit-uk-eu-reset-trade-deal-starmer-b2752285.html

Sustainable Aviation: Innovations and Challenges

Gas guzzling continues to be one of aviation’s problems. Combustion remains that the heart of most aircraft power plants. Taking large amounts of fossil fuel. Squeezing energy out of every drop of gasoline. Gobbling up more day after day. Pushing out emissions.

As I look out across the garden, I see gliding effortlessly as the warm air rises, a Red Kite[1] gracefully circling. Wings outstretched they hardly move them as they climb. They’re a distinctive small bird of prey, easily spotted because of their forked tail. Now, that’s what I call efficient flying. Using all that nature provides and wasting little energy.

Human attempts at flying are a million miles behind these magnificent birds. There’s still so much to learn about aerial navigation. It’s a matter of control. The sensing of ambient conditions and the precision movements needed to ascend and dive at will.

The search is on for effective change. There’s no pretence that the way commercial aviation operates is unsustainable. It’s true that the gas guzzlers of the air guzzle less gas now than they ever have but the physical facts remain.

None of this is new. I’m about to send a book called “Towards Sustainable Aviation” to a charity shop. It’s not that there’s anything wrong with it. The book is full of pertinent analysis and observations. Trouble is that it’s dated 2003.

I’m led to ask – what’s changed in over 20-years? In answering my own question – quite a lot but not enough. Discourse has moved on from academic quarters to the political sphere. Aircraft have become more fuel efficient. Driven by economic imperatives as much as any concern for the climate. Research initiatives are generously funded to come up with answers. Solutions like hydrogen, electric propulsion, and SAF (sustainable aviation fuel) are slowly moving from theory to practice. A few prototypes are flying. Limited supplies of SAF are flowing.

Unmistakable that’s where the problem lies. For all the hype, policy and government funding the pathway to genuinely sustainable aviation disappears way off into the horizon. There are setbacks too. Gas guzzling is back in fashion. Certainly, in Trump’s America.

We could make a much more of the technology that’s currently available. Yes, there are costs involved. Change is not a free ride. That said, sticking with the status-quo isn’t free either. Legacy costs mount up. One reason why older jets disappeared from fleets so quickly.

The next generation of commercial aircraft must make major steps forward. Since the life of a typical aircraft type can easily extend to 30-years, then change must happen in design now.

Typically, commercial aviation moves with graduated change. There’s an inherent conservatism in the system, as might be expected when safety and security are paramount. Facing this global challenge, there’s a need for a degree more radicalism.

Since high impact disruption is also in fashion, it’s time for airlines and manufacturers to adopt a pioneering spirt. It’s been done before. In the 1960s, that pioneering spirt gave us the Boeing 747, the Jumbo jet. That opened flying to a whole generation.

[1] https://www.rspb.org.uk/birds-and-wildlife/red-kite

Europe Day Highlights the Need for Unity

Keeping the peace is never easy. There’s an irrational propensity to conflict in human nature. Keeping the peace is not a passive task. First, it requires communication and engagement. When those two go, trouble is not far behind. It’s by expressing concerns that each side knows where the other stands. Escalation can come when ignorance and propaganda take over.

After the second world war, institutions were established to ensure that communication and engagement became a non-stop affair. With only a small number of exceptions, the countries of the regions of the world engaged in these institutions. Those measure have contributed to making a more prosperous world.

“Never again” are two words that refer to the atrocities of war. The moto is to remind everyone that the worst can and does happen, and that perpetual effort is needed to ensure that history does not repeat itself. The concept of “lessons learned” is essential for safety and security. This is as much true for micro day to day activities as it is for the macro events that shape the path global ahead. Taking teaching not from narcissistic demigods and snake oil salesman but from the pages of history. Appeasing tyranny is not an option.

This week has been a reminder of the lessons learned from the world wars. For most people it’s been a continuing commitment to ensure such events never happen again in Europe. Sadly, let’s not be coy. Despite an overwhelming desire for peace, conflict in still Europe is a reality. But the lesson is there in black and white, appeasing tyranny never works.

Today, Friday 9th May is Europe Day. That’s because a speech by Robert Schuman[1] changed the course of European history on this day. Five years after the war in Europe had come to an end, he put forward a proposal that would make a future similar conflict impossible. The idea was to create an interdependence that would secure peace, unity and solidarity.

It worked. His proposal led to the creation of a European Coal and Steel Community. That measure lay solid foundation for what would later become the European Union (EU). Behind this is move is the echo of “Never again”. Europe has seen centuries of war. This was a moment in time to bring that to an end.

For now, 75-years on, this has been a success. It’s not a regional project with a defined end, even if it has a defined beginning. Where the EU chooses to go next is in the hands of its Member States and its citizens. Changing the course of European history doesn’t stop because the EU exists. Without the cooperation and dialogue, it provides there’s always a chance that ancient rivalries will be reignited. In fact, unscrupulous right-wing politicians[2] are trying to do that just now.

Sadly, in the UK, we stand on the sidelines, looking across the water at continental Europe. Brexit has done a great deal of damage. But as I have said, nothing is static, the world is entering an ever-uncertain phase. The opportunity for the UK to restore EU relations is open. I see the wisdom in the words of the Governor of the Bank of England. He has said the UK now needs to “rebuild” Britain’s relationship with the EU. Amen to that.

[1] www.europa.eu/!9JbCd9

[2] https://www.politico.eu/article/germany-spy-agency-walk-back-extremist-label-afd/

Finding Balance

Regulation can be a contentious issue. That’s an understatement. A spectrum of views extends from the complete libertarian to the past soviet model. Citizens shouldn’t be encumbered by any restrictions to the State has the right to dictate every aspect of life. Clearly, there are immense downsides to either of these extremes. Luckily, although not everyone will agree, the set of political choices available in the UK covers the wide range from the far-right to the far-left. These labels are deficient when it comes to the detail. Often these two camps are similar in their authoritarian ways and means.

Rejecting the extremes, being a liberal, means finding a balance. That means a minimal number of rules and regulations to achieve the prosperity, safety and security goals that most people happily support.

A pendulum swings in the British political cycle. Never quite sure what the cycle time is on this one. What’s for sure is that our society’s tendency is to go from urges to tighten-up rules and regulations to impulses to eliminate or relax them with gusto. Often, the aim is to tweak or protect economic stability or tweak or promote economic growth. After the banking crisis of 2008 it was the first of these, now it’s the second.

Brexit is a strange oddity. Although, great claims were made for the loosening of the ties that bind us, the reality has been much onshoring of past rules and regulation. The forces of continuity have some good arguments.

It’s reported that Prime Minister Starmer is considering dynamically aligning UK regulations with EU regulations, as if that’s not happening pragmatically and piecemeal already. OK, this is not consistent across every sector of the economy. It’s a mixed bag. Politicians banging the drum but not doing much.

Let’s say the financial services market goes a different way from the technology sector. One has a history as long as your arm the other is being made-up as we speak. Clearly, there are risks in both deregulation and overregulation. Thus, I get back to that notion of finding a balance.

To hardened Brexiters EU and UK rules constrain. To their supporters they enable, facilitate and transform.

Now, what’s difficult to discern is where do Starmer and Reeves stand?

A direction of travel, to encourage investment in the UK, has been touted. That implies alignment rules. Investors rightly seek the largest market on offer. Like it or not, the UK is not the US, or even the EU when it comes to the size of its economy. Maybe, it’s taken Brexit to realise that we align as a matter of common interest. Mutual benefit.

Most of our safety and security goals are not subjects of intense competition. If you fly internationally, why would it make sense to compete on safety or security? The general expectation is that common high levels of safety and security are desirable.

As the weather improves so we are heading towards a year of the Labour Party in power. There’s disappointment and concern about the timidity of their actions. The word “reset” is banded about. A ridiculous word. Press the reset button to restore a past condition. No, choices need to be made. Closer alignment and partnership with the EU are the rational choices.