@SkyTheViking A woman spitefully accuses an innocent man of rape. He dies horribly in ignominy while she goes on to live a long happy life and eventually gets a book out of it.
Sometimes you can read the New Statesman or listen to their podcast and think, “Yeah, they’re a bit leftie, but there are some interesting and well-constructed arguments here.” Then they go and publish this and you remember that they’re all loons.
If you ever sought out the novels of Sally Rooney in bookshops – when that was still possible – you’d know they sit in the fiction stacks adjacent to the novels of another SR whose books have been withdrawn in dastardly political circumstances. Until last week, “Rooney” and “Rushdie” had little in common beyond being shelfmates; now they have more than just a physical proximity.
@tanjil_rashid_: This is censorship by other means https://t.co/T6CQQ5ZKMR
There’s a lot of self-serving spin emanating from the UK government about how virtuous it is re fiscal consolidation.
Here are the facts.
Labour inherited an OBR budget deficit forecast of £87bn (3.1% GDP) for FY2024/25. After R Reeves’ 1st disastrous budget the actual deficit was £153bn (5.2%). Massive jump.
Labour inherited OBR budget deficit of £77bn (2.7%) for FY2025/26. After RR’s disastrous 2nd budget that turned out to be £133bn (4.3%).
So in its first two years it added over £120bn to borrowing/deficit (despite huge increase in taxes).
The OBR forecast it inherited for this FY2026/27 was £69bn (2.3%). It is now forecast to be £116bn (3.3%). That looks like an underestimate. More likely to be closer to £130bn again.
Inherited budget forecast for 2027/28: £51bn (1.6%). Latest forecast: £97bn (2.9%).
Inherited budget forecast for 2028/29: £39bn (1.2%). Latest forecast: £86bn (2.5%).
Far from fiscal consolidation Labour is forecast to borrow an incredible £260bn more over the 5 years from 2024/25 than the forecasts it inherited. Despite the tax rises.
Which will continue. Alone among G7 countries the IMF projects the UK tax burden to rise by 3.7% of GDP 2025-31. The only other country with a rising tax burden is France (0.8%). Italy is static. Rest of G7 have falling tax burden.
And let’s not forget Labour’s so-called ‘fiscal consolidation’ is all backloaded to end-decade. Unlikely to happen. So taxes will have to rise by even more.
We’ve lost an icon. Margaret Hamilton, a computer science pioneer best known for her work at MIT leading development of the flight software for the Apollo missions to the moon, has died at 90. Read about her legacy via MIT News: https://t.co/ODkbdIsoHw
Capital punishment is the theory that the same state incapable of managing budgets, patrolling borders, educating students, or buying a new IT system without inadvertently quintupling the costs can be trusted with the right to kill its citizens.
Breaking News:
The Economist to be renamed The Echo Chamber.
A new approach to journalism.
Every week the editor will consult colleagues she’s appointed.
She will ask them if they agree with her.
We agree with you, they will (unsurprisingly) reply.
Cue ponderous editorial on why I was right all along.