I'm sorry we never got a chance to meet, but getting this note from Dolly really had a an impact on me. She definitely didn't have to take the time to do it. Even for a kid who mostly listened to rap music, she was an icon. A superstar in every sense. Rest easy Dolly. And thank you for the kind words.
Economics 101: Repeat after me:
A fall in the inflation rate does not mean prices are falling overall. It means prices are not rising as fast as they were.
But most previous prices rises are baked in and that prices are still rising.
Petrol prices at the pump are falling but that’s a global phenomenon and nothing to do with the government.
Food prices still rising — up 3.6% in January on a year ago. A slowing in the rate of increase but still an increase.
Got it?
Well we should all look forward to Keir Starmer’s reply to this devastating missive from David Wolfson. Looks like the PM has seriously misled Parliament. I doubt he’d dare to repeat his remarks outside Parliament.
How do libertarians overcome the problem that, despite govt failing over and over again, most default to the romantic fairytale that the state is a benevolent, competent, public interest-driven entity?
Do we really have to plunge to Argentinian outcomes before the penny drops?
📣 Planning to stand with our farming community next Tuesday 19 November in Westminster? #WeJustWantToFeedYou
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I've been trying to ignore this from Carol Vorderman @carolvorders but it's now got over 12k 'likes', so here goes... 🤓
Both the figures and (far more importantly) the narrative is wrong.
Public sector net debt excluding public sector banks was £2,671.4 billion at the end of November 2023. (ONS data identifier HF6W.)
The same measure was £1,046.6 billion in May 2010. That was an increase of £1624.8 billion.
Cameron became PM on 11 May 2010 – so 4,962 days before the end of November 2023.
The average increase was therefore about £327 million per day, not £380 million.
Of course, that’s still an awful lot of money. But these figures are distorted by inflation – and Covid.
The more sensible way to look at the data is debt as a share of national income (or GDP). (ONS code HF6X.)
This is what I do in the chart below. This shows that the Tories inherited a rising debt burden from Labour after the GFC but this was levelling out by 2015, before the impact of the pandemic.
Ps. debt has risen since 2010 by a similar amount (as a % of GDP) in many other countries, including the US, Japan, France, and Italy.
Sir Bobby Charlton RIP.
The saddest news.
The greatest English sportsman ever, world champion, European champion, league champion, FA Cup winner, Ballon d’Or, such a wise club director, a gentleman and a gentle man.
Thoughts with Sir Bobby’s family.
The venue (Leith Arches) has cancelled our gig this Thursday following pressure from censorious activists
Is there an #Edfringe venue that believes in free artistic expression that will host us?