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The UK economy is barely out of first gear, so now is no time to hit the brakes


WilliamKeegan
Hurrahs for inflation reaching 2% as the economy grew gave way to panic over rising prices – and it’s all, of course, made much worse by Brexit
Trade secretary Liz Truss signs a free-trade deal with Singapore, an arrangement we’d never have needed while in the EU.
Trade secretary Liz Truss signs a free-trade deal with Singapore, an arrangement we’d never have needed while in the EU.
Sun 27 Jun 2021 02.00 EDT
It is difficult not to laugh: as the economy has been recovering, in certain sectors, from the biggest contraction in output for several centuries, the Bank of England has been desperate to “achieve” the official inflation target. Finally we learn that it has indeed been achieved – that the index of consumer prices has risen by 2.1% in the past 12 months, marginally over the target of 2% – and, hey presto, there is panic in the ranks. ....

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The doctrine of Net Zero will make mugs of us all


The doctrine of Net Zero will make mugs of us all
The real risk to society will be if the extremists succeed in foisting on us an expensive and intermittent energy system
4 May 2021 • 7:00am
A small box arrives, addressed to me. “Our children deserve a future,” it proclaims on the outside. What a moving thought! Why has no one ever said that before? 
Inside the box is a free mug. It is emblazoned with a take-off of a bank note. “10 years,” it says in the space usually reserved for £10, “to climate catastrophe”. Where real notes say, “Bank of England”, this one says, “Barclays Bank”, adding “Barclays must divest from the destruction of our planet now”. An enclosed card calls Barclays “Sharklays”.  ....

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Brexit: The Ruling Class Shoots Itself in the Foot


Brexit: The Ruling Class Shoots Itself in the Foot
Brexit finally came into force on 1 January 2021, over 4 years after the referendum of 2016. During these four years the leading bodies of the British capitalist class had fought a delaying and rear-guard type of campaign to stop it happening but failed.
Brexit appears to be against the interests of the UK capitalist class as a whole. The Christmas Eve deal, so-called Trade and Cooperation Agreement (TCA), makes the UK a “third” country and restricts trade between the UK and its main trading partner, the EU, which accounted for 49% of the country’s trade in 2019.1 Mountains of new paperwork, red tape and new charges have come into effect causing trade with the EU to drop by 40% in the first month of the new dispensation. The main sectors of British capital are certainly not happy. Manufacturing now has masses of new forms to complete to access its main market and supply chains are significantly delayed or broken put ....

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