Category: Economics

Johnson poll-axed by the Tory Red Wall

If the Tories are pinning their hopes of re-election in 2024 on retaining the Red Wall seats they wrested from Labour in 2019, at least one opinion poll suggests their efforts are already doomed to failure

Note: Longer and updated version of the article published at The Conservative Woman on Wednesday 06 January 2021.

In folklore and mythology, the Grim Reaper appears wearing a dark, hooded cloak and carrying a scythe, to warn that nothing lasts forever, not least life itself. In political reality, however, his contemporary equivalent arguably comes clad in an Armani suit or skinny jeans, and bearing a laptop with unfavourable opinion survey results.

Or so the ‘Conservative’ Party might reasonably fear, after the Focaldata poll published over the weekend of 2nd/3rd January.

Reported and analysed in The Sunday Times, the poll’s findings were startling. They showed that, were a general election to be held now, the Tories would lose entirely the 80-seat majority which they secured only just over a year ago, putting us in hung Parliament territory and therefore almost certainly presaging a Labour/SNP coalition government.

The findings obviously need to be treated with caution. After all, it’s only one poll, the fieldwork for which was done during December and mostly before the conclusion of Johnson’s EU negotiations and his pre-Christmas announcement of his Brexit trade deal; and yes, nearly four years have to elapse before the next general election.  All the same, for Johnson, in a mere 12½ months, to go from an 80-seat majority to an indicated hung Parliament is some collapse, as the eight percentage point vote loss shows.

Significantly, however, that projected 81-seat loss would include no fewer than 35 of the 43 Midlands and Northern Red Wall seats which in December 2019 voted Conservative either for the first time in decades or in some cases for the first time ever.

Perhaps, though, one should not be too surprised.

Three months ago, I argued that the bricks were already falling out of the Tories’ Red Wall, citing both evidence that voter opinion in those seats was already turning against them, and a growing body of opinion that those constituencies’ Tory MPs should recognise the extent to which their newly acquired support was already becoming restive.

If, as the  Focaldata poll suggests, the Tories’ star is already waning electorally and the prospects of them retaining that raft of crucial Midlands and Northern seats are commensurately reducing, then Johnson has only himself to blame.

It’s those Red Wall voters who are disproportionately bearing the brunt of his SAGE-deferential, economy-damaging, authoritarian response to Covid. An Office for National Statistics analysis found that 17 of those 43 newly-Tory seats were in the top fifth of areas whose labour markets were most reliant on the sectors at prime risk from the impact of the government’s lockdown response. High-Street retailing in those areas has been badly hit, creating not only an unemployment effect but a broader adverse economic impact on local area prosperity.

Moreover, with a higher ratio of people in working-class and lower-middle-class employment not conducive to home-working than in the relatively affluent South-East, Red Wall voters are arguably more exposed to the virus itself. They’re suffering the exacerbation of the class divide which is a direct consequence of the Johnson government’s approach.

Not for many of them the pleasurable convenience of using a laptop in the kitchen and communicating with colleagues via Zoom in one of the middle-class cognitive-focused professions, while occasionally ordering food and other necessities online. If not already furloughed on a fraction of their regular pay, those newly-Tory Red Wall voters are relatively more likely to be found in the warehouses despatching the orders or the vans delivering them, or in any number of increasingly precarious workplaces that require physical attendance and face-to-face communication. You can’t work from home via Zoom if you’re a garage forecourt attendant or a self-employed carpenter.

At the same time, their children are more likely to be among those harmed by the growing educational inequality caused by the continuing school closures so insisted upon by the teaching unions, most of whose full-time members have continued to receive full pay, or even an inflation-busting pay rise, in return for not teaching.

In contrast to the children of the affluent middle classes who can afford private education, for whom online substitute education has reportedly been rigorous and fairly successful, 20 per cent of all State school pupils have been doing less than one hour of schoolwork a day, and 93 per cent of them have had four or fewer online lessons a day. They’re also less likely to come from households with the requisite technology or devices to benefit from what online teaching there is for them.

A half-generation of children is having its education blighted, with dire consequences for its future employment prospects or social mobility.

No wonder those Red Wall voters who lent their support to the Tories are now, according to their opinion-polling responses to Focaldata, withdrawing it in droves. Their jobs are at risk of disappearing, their small businesses are at risk of failing, their towns and neighbourhoods are at risk of declining, and their children are being denied their education.

And as if all that wasn’t bad enough, what do they see the same PM to whom they lent their vote in a leap of faith doing when – apparently mesmerised by the lockdown enthusiasts who ruefully but mistakenly thought they’d never get away with imposing in Europe the authoritarianism of a communist one-party state – he’s not levying on the economy and society draconian restrictions unprecedented in peacetime?

They see a Boris Johnson seemingly in thrall to the eco-fanatic Green lobby and the World Economic Forum’s globalist-elite, anti-democratic, technocratic-totalitarian Great Reset – and make no mistake, his use of the movement’s standard and sinister ‘Build Back Better‘ slogan is a dead giveaway – and looking forward eagerly to the crony-corporatism benefiting boondoggles designed to promote and accelerate its malign agenda.

No doubt some of them also recall a Boris Johnson who seemed, if not to go AWOL, then at least to be somewhat reticent in 2020 when it came to standing up against the anti-capitalist cultural marxism and anti-white racialist identitarianism of the extreme and even so-called ‘Liberal’ Left.

As well as being unimpressed with his Covid measures, maybe those Midlands and Northern voters also aren’t keen on Johnson’s apparent reluctance to challenge and reject the Woke-Left identity-politics intent on trashing their culture and national history, or on his slavish embrace of the Green agenda likely only to make their energy scarcer and more expensive, and they see little chance of his making their 2021 any better.

As long ago as last mid-October, I remarked of Johnson that seldom in modern political history can so much newly acquired electoral advantage, and with it a rare opportunity to re-align UK politics, have been so recklessly and needlessly squandered in so short a time. This now seems to be the verdict also of the Conservative-leaning think-tank Onward, whose recent research concludes that unless the Tories fulfil their ‘levelling up’ promises to their new electoral demographic, they risk forfeiting their 80-seat majority.

If the Focaldata poll over the weekend of 2nd/3rd January turns out to be accurate, it looks like Red Wall voters have already pre-empted them. And who can blame them? Johnson’s obsessive adherence to the SAGE-authoritarian and Green eco-globalist agendas respectively is repelling his new Red Wall voters, and he doesn’t seem to care.

On past form, the Tories’ most probable reaction will be an arrogance-driven either dismissal, complacency or condescension, but they should resist the temptation to indulge in either. A hint of the latter has already been seen in the patronising assumption that those votes can in effect be bought back merely by throwing taxpayers’ money at the areas concerned, but the reasons for voter dissatisfaction discussed above appear too deep-rooted to be amenable to that convenient solution.

Relying on upcoming boundary changes to deliver extra seats to compensate them for any loss looks unlikely to be enough, with only ten additional seats in prospect. Moreover, the vote boost gained from former Labour voters in those Red Wall seats being repulsed by the leadership of hard-Left Jeremy Corbyn should be regarded as a one-off phenomenon. For all his flaws and inadequacies, its new leader Sir Keir Starmer is considerably more electable.

It’s even possible that the revolt will expand and intensify, once greater awareness of Johnson’s failure to curb illegal cross-Channel immigration spreads, and the flaws which lie in his Barebones-Brexit deal, despite his hyperbolic spinning of it, finally become more and more apparent.

Polls are, of course, inconsistent and unreliable. The first full test of electoral opinion in those Red Wall seats should be coming at May’s 2021 local elections, including the local elections postponed from 2020 because of the first Covid-19 lockdown; “should”, because both now look likely to be delayed. Johnson’s ‘Conservatives’ seem to be keen to put off an encounter with the electorate for as long as possible. Perhaps their private polling is closer to that Focaldata poll result than they care to admit.

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Brexit-Watch: Friday 17 July 2020

Beware the resistance of the Whitehall Continuity-Remainer Blob  

Note: this article was originally published at The Conservative Woman on Thursday 16 July 2020

Choosing four recent Brexit-relevant media articles which, while not necessarily meriting a full-length article, nevertheless warrant two or three paragraphs of comment, rather than merely a couple of lines.

NB: (£) denotes article behind paywall

 

It’s time to agree to withdraw from the Withdrawal Agreement Centre for Brexit Policy

The relief and praise in equal measure which greeted Boris Johnson’s ‘renegotiation’ of the seemingly renegotiation-immune EU Withdrawal Agreement were justified – but only partly.  Despite the modification he achieved, its numerous flaws which his predecessor Theresa May signed up to out of either dullard ignorance or Remainer perversity persist.

Notwithstanding the current negotiations being conducted on our future trading relationship with the EU, provisions in the Withdrawal Agreement relating to, inter alia, the continued applicability of EU law, customs/border procedures, and Defence/Intelligence/Security issues, will, unless changed, effectively ensure the EU will continue pulling strings in Britain for years to come.

The Centre for Brexit Policy’s comprehensive report, on how various areas will continue to be adversely affected by Brussels’ malign influence, support its conclusion that the Withdrawal Agreement as currently structured cannot be allowed to stand, and must be replaced.

Interestingly, this proposal is being supported by one or two of the former Brexit Party MEPs who defected back to the ‘Conservative’ Party before the last election because they disagreed with the former’s position that the Withdrawal Agreement was fundamentally deficient and needed wholesale renegotiation, not modification. Depressingly, though, it’s difficult if not impossible to imagine Johnson’s inept and struggling government conjuring up the political courage even to address this, let alone do anything about it.

 

Michel Barnier tells Mark Francois that Brexit is pointlessDaily Telegraph (£) 

‘Resistance is futile’ seems to be the subtext of Barnier’s message.  Now, to be fair, Tory Brexiteer MP Francois is a bit of a buffoon – although one who attracts far more odium from his detractors than does the equally buffoon-ish Euro-fanatic Guy Verhofstadt – but I suspect he’s achieved the essentially mischief-making purpose of his original missive to Barnier, by provoking precisely the kind of haughty, ponderous, humourless response that so typifies the Eurocrat grandee.

Barnier has once again unwittingly revealed firstly, his total inability to understand how any country could possibly not want to remain part of the institutionally anti-democratic pan-European supranational project for which he evinces a near-sacerdotal reverence, and secondly, the EU’s continuing negotiating intransigence that sees him still insisting, even at this stage, that the UK must abide by the cherished ‘level playing field’ on EU (over)-regulation. It’s a bit rich of him to be accusing the UK of a ‘lack of respect’.

He shows why continuing negotiation is in effect a dialogue of the deaf, and why we would be better off cutting our losses, announcing that no further purpose is served by persisting in the charade, and devoting all our resources to preparing for the end of Transition without an agreement in place.

 

UK faces extra €2 billion EU pensions bill – Euractiv

To which demand the first response should surely be the question: why?

When the UK agreed to pay roughly €39 billion in a combination of severance and contribution to future liabilities under the original Withdrawal Agreement, included in that amount was approximately €9.75 billion for future EU staff pension liabilities. However, the EU’s estimate of those specific liabilities has suddenly jumped by about 22 per cent in one year, as a result of which we are being asked to stump up an extra €2 billion.  If that can happen to one element of our severance settlement, it raises the question of whether it could also happen to others, and whether a one-off payment somehow has the potential to morph into a never-ending commitment.

Given that the Withdrawal Agreement, for all its faults, was signed, why are we liable at all, when we have already legally left? And why was the amount not capped in the negotiations at the original €9.75 billion, to prevent us from being gouged for further increases? We should have no hesitation in either refusing, or securing a valuable concession elsewhere as the price of agreeing.

 

Brexiteers be alert – Whitehall is still trying to scupper a real Brexit – Briefings for Britain

Accustomed as we should be by now to the machinations of the irredeemably Europhile Westminster and Whitehall Remainer Blob which, four years on from the 2016 EU Referendum, continues to try and thwart or at least dilute its outcome, the Blob’s capacity to open a new front in its ongoing war against democracy should never be underestimated.

If you can’t stop it, review it” comes straight out Sir Humphrey’s (or perhaps Sir Mark’s before his welcome but overdue departure) playbook.  With the Department of Trade and Industry fully engaged in actually negotiating new, non-EU, trade-deals, the timing of the announcement of a review into the DTI’s modelling of trade deals looks anything but coincidence.  The suspicion of bureaucratic sleight-of-hand is heightened by the appointment, as chairman of the review, of an economist described as ‘close to very vocal Remainers‘.

The membership of the new agricultural commission to advise on food standards and trade policy looks similarly compromised, being stuffed full of the same people who, pre-Referendum, were prominent in scaremongering about produce standards and food imports in the event of leaving the EU.

Additionally, talk has emerged of the DTI joining the Department for International Development (aka Overseas Aid) in being merged into the Foreign Office, long regarded, and with reason, as the epicentre of Whitehall’s Remainer Resistance,  and with a dismal record of achievement when it was responsible for trade prior to the formation of the DTI.  How Sir Humphrey would approve!

Johnson, or at least Cummings, should be all over this like a rash, killing it stone dead. That the former isn’t, given the profound disappointment he is turning out to be as PM, isn’t surprising.  That the latter isn’t is worrying.  Is another Chequers-type BRINO in the making?

 

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Brexit-Watch: Friday 19 June 2020

Barmier from Barnier with a jibe at London

Note: this article was originally published at The Conservative Woman on Wednesday 17 June 2020

Choosing four recent Brexit-relevant media articles which, while not necessarily meriting a full-length article, nevertheless warrant two or three paragraphs of comment, rather than merely a couple of lines.

NB: (£) denotes article behind paywall

 

London should not be a European financial hub after Brexit, says Michel BarnierTelegraph (£)

This smacks more of either petulant obstructionism or even desperation from Barnier, rather than a credible threat.  However, it’s rather disturbing to see some UK commentators appearing to fall for it, by suggesting we should sacrifice both what’s left of our EU-decimated fishing industry and autonomy over our sovereign territorial waters in return for financial services.

I believe that this is both a false dichotomy, and an empty threat.  Compare the amount of EU-related financial business going through London with that going through, say, Frankfurt, which is the only even possible alternative. There’s no comparison.  And in any event, the EU’s intention to introduce a disastrous pan-EU Financial Transactions Tax would act as a massive disincentive for business to move from London to Frankfurt.

On this, Bottler Boris needs to hold his nerve and hold the line. 

 

Any more Brexit delays would be an affront to democracyDaily Express

In focusing on the nuts and bolts details of the negotiation process, it’s easy to overlook the underlying electoral politics.  Arguably, they mattered less while the Tories were continuing to post polling-leads in double digits, despite misgivings about their mishandling of the COVID19 crisis.  Now, however, with Keir Starmer providing more effective opposition to a visibly struggling Johnson, and with widespread reservations over the Tories’ timidity over exiting lockdown, they start to matter more.

Against this background, the Centre for Brexit Policy has released its new paper entitled Do Not Delay Brexit – The View from the Red Wallwhich backs up its Chairman Owen Paterson’s Express article by showing the extent to which the Tories’ December 2019 election landslide was largely due to ex-Labour voters in the Midlands and the North trusting the Conservatives to deliver a genuine Brexit.

The significance of this, of course, is that, with the opinion polls now tighter, and the proponents of an extension to the Brexit transition period trying to leverage the Coronavirus outbreak as justification for it, a failure to complete the implementation of Brexit on time will rebound adversely on the Tories electorally.  They would do well not to rely on the next election being 4½ years away and think they can take their recently acquired new electorate for granted.   

 

The Economic Case Against Extending the Brexit Transition –  Briefings for Britain

The case against extending the Brexit transition period isn’t only political.  As economist Julian Jessop points out, any theoretical adverse impact from the completion of Brexit on time, even based on exiting on WTO terms if a Free Trade Agreement cannot be reached, is dwarfed by the economic impact of COVID19 and the tremendous costs Johnson’s government has incurred in trying to mitigate it.

As Jessop also points out, the global economic downturn from COVID19 has also slashed borrowing costs still further, to the point where some gilts yields are negative.  This means that any additional Government borrowing as a result of completing Brexit on time may actually have been made cheaper by the Coronavirus crisis, apart from becoming relatively less significant when set against the extent of COVID19 borrowing as a whole.  There is simply no convincing case for deferring completion of Brexit on economic grounds.

 

Free trade is the key to Britain’s success. We can’t let our farmers and fishermen hold us backThe Times (£) 

The fact that this article is far more about farming than it is about fishing, which gets a mention only in regard to a possible trade-off against financial services, made me wonder if the Times‘ sub-editors took a small liberty with the headline to garner more clicks, fishing being such a touchstone issue.

Whether the case or not, the premise for that trade-off is questionable; firstly because the EU’s ability to hold the UK and City of London to ransom over financial services is limited, as I explain in the first link commented on in this article, and secondly because Brussels is now reported to be backing down on access rights to British waters anyway.

The validity of an argument linking farming with fishing, as though they were but two sides of the same coin, looks suspect in any event. Even taking into account the self-sufficiency case for, and the anti-protectionism case against, giving farming and agriculture special treatment, the two aren’t the same.  Fishing isn’t just a trade issue; given that it involves the ‘ownership’ of national territorial waters, it’s far more a sovereignty issue that it is merely one of trade and commerce, and if Johnson has succeeded in forcing Brussels to accept that it is ‘off the table’, that can only be a good thing.

 

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Brexit-Watch: Friday 12 June 2020

The EU has reason to fear the implications of Britain’s historic Hong Kong connections in negotiations over future UK-EU trade relations   

Note: this article was originally published at The Conservative Woman on Friday 05 June 2020

Choosing four recent Brexit-relevant media articles which, while not necessarily meriting a full-length article, nevertheless warrant two or three paragraphs of comment, rather than merely a couple of lines.

NB: (£) denotes article behind paywall

 

EU: Trade with China Trumps Freedom for Hong KongGatestone Institute

It should by now be clear that, having either deliberately released the COVID19 virus or negligently allowed to it escape (the jury is still out on that one, so take your pick), China intends to take advantage of the rest of the world being both distracted by it and intimidated by its dependency on China for PPE, to advance the Chinese Communist Party’s own agenda.

So far, the UK has reacted honourably to the Chinese threat to Hong Kong’s freedoms by suggesting the grant of a 12-month UK visa, as a ‘pathway to citizenship’, for the roughly 3 million Hong Kong residents who qualify for British National (Overseas) status.  The EU, on the other hand, shows no inclination to do anything which might jeopardise its trade links with China.

The UK must resist any moves by the EU in Brexit negotiations to capitalise on a potential future reduction in UK-China trade by being even more intransigent on future UK-EU trade relations.  The EU has more to lose.  Not only would the arrival in Britain of up to 3 million from one of the most dynamic and entrepreneurial economies on Earth be a welcome boost to Britain’s post-COVID19 recovery; the prospect of Hong Kong-style low tax, free market, small-state attitudes growing and thriving only 22 miles off the declining, sclerotic EU mainland would put the fear of God into it. 

 

History will judge Brexit on how the fisheries issue is settledGlobal Vision

This Brexit-Watch series has mentioned on several previous occasions how British commercial fishing has a symbolic, almost talismanic, political status as a proxy for Britain’s surrender of economic and territorial sovereignty since joining the then EEC in 1973, even if that status is out of proportion to the industry’s economic significance.

So the article author Hjörtur Guðmundsson is right to warn that the UK must maintain its stance of refusing to lump fishing in with all other aspects of a UK-EU trade deal – assuming one can be reached at all, which looks increasingly doubtful, though not necessarily harmful – and instead continue to insist that it be treated separately.  UK chief negotiator David Frost has so far also been adamant that EU intransigence on access to UK fishing waters will heighten the risk of the UK walking away from a trade deal, and this pressure too should be maintained.  Playing hardball may be paying off.

The greatest danger here, paradoxically, may arise from Johnson’s reported intention to involve himself more closely in the minutiae of negotiation.  Never a details man at the best of times, the risk that, amid some typically Boris bluff’n’bluster, a disadvantageous trade-off or concession might be made purely to achieve a deal for political purposes but whose baleful effects could reverberate, couldn’t be discounted.  In that case, Brexit would indeed be judged on how the fisheries issue was settled, and Johnson would be in the dock. 

 

No-deal Brexit holds fewer fears for a Covid-ravaged economy – Financial Times (£)

Even the irreconcilably Continuity-Remainer FT tacitly, albeit reluctantly, acknowledges what many have been saying ever since COVID19 first appeared on the horizon.  Set against the costs to the UK economy of the pandemic, or more accurately, the costs of the Government –

  1. putting the economy into the deep freeze;
  2. placing millions on the State payroll;
  3. borrowing upwards of £300 billion; and
  4. restricting civil liberties to an extent unprecedented even in wartime,

all of which it was panicked into taking in response, the costs in comparison of a No-Deal Brexit pale into insignificance.

Not only would the likely scale of the inevitable-in-any-event decline in economic output ameliorate any adverse economic consequences of reverting to WTO terms on a No-Deal final exit, but COVID19-induced unemployment might even be lessened by the recruitment of personnel needed to operate new border controls.

The FT of course quotes the usual anti-Brexit Jeremiahs in abundance, but for it to admit it may not be all doom and gloom is quite something. It’s an ill wind. . . .

 

Free trade with America will see our farmers prosper Centre for Brexit Policy

Considering how the iniquities of the EU’s Common Agricultural Policy, and the importance of the UK re-acquiring the ability as an independent sovereign nation to conclude trade deals, were among the significant issues aired during the 2016 EU Referendum campaign, it’s sometimes surprising how they appear to have receded in the public mind since then.

Yet, as this article by former Environment Secretary Owen Paterson makes clear, the calls to maintain EU-amenable levels of trade protectionism, particularly as regards agricultural products, have not gone away, merely re-surfaced under ‘animal hygiene’ or ‘animal welfare’ labels.

To end being told by countries, into whose legislatures we have no democratic input, what regulations we must apply domestically is one of the reasons we voted to leave the EU.  Paterson is undoubtedly correct to say that free trade, policed by reputable global organisations overseeing regulatory equivalence rather than imposing regulatory harmonisation, offers us a better chance of benefiting from our decision while improving animal welfare than does the alternative of continued trade-protectionism.

 

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Professor Lockdown: Wholly Hubris or Partly Honey-Trap?

The circumstances of the extra-marital romantic assignations for which the architect of lockdown broke his own recommended social distancing rules are enough to prompt suspicion that initiation of the relationship might have been neither entirely his, nor entirely for purely personal reasons

Note: updated version of the article originally published at The Conservative Woman on Monday 18 May 2020

Definition of honeytrap

When the scandal of Imperial College’s Professor Neil Ferguson’s breach of the COVID-19 lockdown social-distancing rules for his amorous dalliances with his married mistress Antonia Staats broke, it was not only understandable but also totally justified that the main focus of public attention by far was on his own gross professional and personal hypocrisy.

After all, here was arguably the principal architect of the SAGE advisory group’s ‘expert’ ‘scientific’ advice, which prompted the Government to –

  1. restrict personal freedoms to an extent unprecedented in peacetime;
  1. in effect shut down the economy; and
  1. put half the nation’s entire workforce on the public payroll,

flagrantly doing precisely the opposite of his own recommendations.

The disastrous effects of the Government’s panicked U-turn from mitigation to suppression, so as to follow the SAGE/Ferguson recommendations slavishly, are all too familiar.  The excessively heavy-handed authoritarianism of the Police in enforcing lockdown rules.  The deliberate inducement of the worst recession for 300 years.  A level of budget deficits which will take years to recover from.  They need no more than a brief mention here.

Neither is this the place to debate either the merits or demerits of Lockdown per se, which have been impressively covered elsewhere, or Ferguson’s private morals, which are of no intrinsic concern to us.

However, given the sheer hypocrisy of his personal conduct compared to his professional scientific advice, and the baleful consequences of the Government’s following the latter, it’s not unreasonable to wonder whether there are any underlying political factors which influenced Ferguson’s specific choice of paramour?  Or, possibly, which influenced his paramour’s particular selection of him as the object of her attention and beneficiary of her favours?

Primarily on Ferguson’s ‘expert advice’, a formerly-‘Conservative’ Party government has created a weaker, static, travel-shunning society cowed into acquiescent submission by lurid pandemic scaremongering, and a weaker economy dependent on massive State intervention. It’s pursuing policies which wouldn’t be at all out of place in an election manifesto produced jointly by Momentum and Extinction Rebellion.  No wonder the State-Socialists and the Green anti-capitalism eco-totalitarians are crowing that Lockdown has become the new normal.  So what part, if any, might his inamorata have played in influencing that advice?

It didn’t take very long for the Guido Fawkes website to uncover ‘left-wing campaigner’ Ms Staats’ political affiliations, which turned out, with a wearisome predictability, to be eco-socialist, anti-Brexit, and anti-capitalist.  As to Ms Staats’ other links, including to the US-based online globalist-activism Avaaz, these were set out very succinctly by Janice Davis in the penultimate paragraph of her own The Conservative Woman article of Wednesday 13th May; it needs no repetition or elaboration from me, except perhaps to note the allegations of funding connections with the Moveon.org organization funded by George Soros

Antonia Staats 1, 5, & 6

To those of us disinclined to believe in fairies and unicorns, this all started to ring warning bells, and still does.  A hard Green-Left anti-Brexit, globalist, eco-activist, who just happens to have been bedding the very man on whose ‘expert advice’ coincidentally the Government has been inveigled into trying to re-make the economy and society in ways very similar to what the anti-Brexiteers, the far-Left, and extreme-Greens demand?  Can we totally exclude the possibility that Ferguson and Ms Staats connected by some process other than pure chance?

How long has the relationship been going?  Does the apparent willingness to breach the lockdown rules for the amorous assignations – in Ferguson’s case hypocritically so – suggest that it might still be in its first flush of ardour and therefore of comparatively recent origin?  The pair are reported to have hooked up via the match website OkCupid, but which of the two actually initiated it?  Is Ferguson subject to the Official Secrets Act in relation to divulging via post-coital pillow-talk any confidential information to which he might be privy by virtue of his official role?

Now, it must be said that, from Ferguson’s track record, it’s entirely possible to conclude that his recommendations to the Government via SAGE were formed without any external influences.

Professionally, his history of wrong predictions with disastrous consequences has been mercilessly dissected.  The coding on which his modelling is based has been shredded.  With only small adjustments to inputs on his model, very different outputs emerge

In his personal capacity, he has not been notably reticent about his political views, either.  In 2016, he co-authored a paper on the allegedly terrible consequences of leaving the EU.  Immediately after the 2017 General Election, he greeted effusively the capture of the Oxford West and Abingdon constituency by the spectacularly misnamed ‘Liberal’ ‘Democrats’ who, ever since the 2016 EU Referendum, have consistently campaigned on a pledge just to ignore its result and unilaterally overturn it.

Ferguson - Moran

It’s worth reading in detail this article on Ferguson for The Critic by journalist and founder of Lockdown Sceptics, Toby Young.  It’s worth, too, listening to this James Delingpole/Toby Young ‘London Calling’ podcast of 6th May for the Young’s excellent monologue summary (from 06:36) of how Ferguson so egregiously epitomises the dangerous serial failings of the ‘liberal’-left, authoritarian-statist, fiscally incontinent, groupthink-conformist quangocracy.  His apparent assumption that lockdown rules on social distancing were for the little people to follow, but not necessarily himself, could well stem from an elitist hubris that’s entirely self-generated.

So it’s entirely feasible that little, if any, external influence was actually necessary for him to make up his mind in the direction he did.  After all, his recommendations were hardly inconsistent with his previous positions; it was not as if he’d reversed policy direction by 180 degrees.

But perhaps any influence, if influence there was, was of the more subtle kind, in the form of flattery, or validation, which might just have prompted him to strengthen them in a particular direction?  Would it have been akin to gently pushing on an already open door?

Both in reality and fiction, the honey-trap has a long and chequered history.  Betty Pack, as MI6 agent ‘Cynthia’, used her feminine allure to help Britain covertly abstract from the Poles the key to the German Enigma codes.  In Frederick Forsyth’s The Day of the Jackal, a young female OAS agent deliberately becomes the mistress of de Gaulle’s much older security adviser, to inform the would-be assassin of the action being taken in the hunt for him.  Former LibDem MP Mike Hancock employed as his parliamentary researcher, with access to sensitive Defence papers, the Russian spy Katia Zatuliveter, 40 years his junior, with whom he was also having an affair.

We have no reason to assume the practice doesn’t continue.  And in a world populated by many more non-state actors, there is equally no reason to suppose that sexual entrapment, not undertaken for criminal blackmail purposes but with the aim of either obtaining intelligence or exerting influence in a particular policy direction, doesn’t occur outside government agencies, and is never used by either supranational bodies or well-funded NGOs.  Or, indeed, online activist organisations?

It was intriguing how much the initial reaction to the Daily Telegraph‘s exposure of Ferguson’s liaison almost bordered on the incredulous; based on the first, and most glamorous, photograph of Ms Staats which it published to illustrate it, comment along the lines of ‘What on earth did she see in him? She’s a bit out of his league, isn’t she?‘ was frequent.  At the risk of being un-gallant, subsequent pictures may now have, ahem, modified this impression somewhat; but was he possibly, because of his position & influence, selected as a target for some kind of subtle honey-trap operation?

Antonia Staats 2, 3, & 4 comp

One of the few certainties about the whole COVID-19 imbroglio is that there will eventually have to be a mammoth public enquiry.  Are there not sufficient grounds for a full security enquiry to be held within its ambit?  To investigate whether there exist, not merely ‘questions to be asked’ or even ‘reasonable grounds for suspicion’, but actually something more than either of those?  Were Ferguson’s lockdown recommendations and his own subsequent flouting of them based entirely on scientific certitude and elitist personal hubris?  Or something more?

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Is Boris’ Irish Border Backstop Plan Bluff or Breakthough?

Bluff – but bluff by whom, and targeted at whom? There are several possible candidates for both.   

Note: Extract from article first published at The Conservative Woman on Tuesday 15 October 2019  

Those, maybe, are the real questions, because this drama has multiple actors, all of whom have interests and agendas that may be colouring their reactions.

Though Boris has, since last Thursday remained fairly tight-lipped about the details, some kind of, in effect, double customs union, involving keeping Northern Ireland in a de facto, if not de jure, customs union with the Republic, appears to be the basis for this tentative rapprochement.

RoI-NI

But when 85% of Northern Ireland’s exports are to the UK, with only 5% and 3% to the Republic and the EU respectively, it’s hard to see why Northern Ireland would burden itself with onerous EU costs and regulations for such a small proportion of its trade, and risk disruption to the flow of the major part of it.

Which might explain why, as early as last Friday, the DUP’s Nigel Dodds had already rejected the double customs union as ‘unrealistic’, asserting that the Province staying in a full customs union with the UK was non-negotiable, and that for the ongoing ‘tunnel’ talks in Brussels to disregard this pre-condition would be counter-productive.

Presumably, Dodds had already perceived what other commentators have since come round to concluding – that, far from negotiating in good faith, the EU is actually trying to squeeze Northern Ireland into a NI-only backstop, a view which Barnier’s rejection of Johnson’s proposals and demand for more UK concessions does little to dispel.

The technical assessments of Johnson’s proposals are not especially favourable. Anand Menon of The UK in a Changing Europe reckons the long-term economic impacts are negative, and potentially more damaging than the deal negotiated by Theresa May, but the chart below appears to acknowledge that they do give the UK more independence and flexibility. ALR readers are recommended to visit the UKinCE website for themselves and make their own judgement of its pro or anti Brexit stance.

N Ireland May Deal vs Johnson proposals

Theresa May’s former Europe Adviser, Raoul Ruparel of Open Europe, however, is more sanguine. There are some concerns, he says, but they can be managed. ALR readers should visit OE’s website https://openeurope.org.uk and make their own judgement about its pro or anti Brexit stance, too.

As former Northern Ireland Secretary Owen Paterson points out, a double customs union would also potentially be a breach of the Belfast (‘Good Friday’) Agreement, and a violation of the Principle of Consent which was enshrined within it.

We also know, because former Secretary-General to the EU Commission Martin Selmayr was indiscreetly frank about it, that it has long been the EU’s position that relinquishing economic sovereignty of Northern Ireland is the price the UK must be made to pay for leaving the EU. It would be unwise to assume that the reactions of both Brussels and Irish Taoiseach Varadkar, who has shown himself regrettably ready to pander to nationalist Republican revanchism, scrupulously disregard this.

Bluffing about seeing a way forward would certainly be in Boris’ interest, and the Conservative Party’s. The almost exclusive focus of politicians, media and public on the Northern Ireland backstop serves to obscure the suspicion that, ultimately, he will try to get what otherwise is essentially Theresa May’s (non)-‘Withdrawal’ Agreement through the Commons. Its numerous flaws remain as serious as ever they were.

But Boris knows that, if he fails to achieve Brexit by 31st October, the chances of both his own survival and that of his government, are damaged. As political scientist and Professor of Politics at the University of Kent, Matthew Goodwin, points out, the votes which, because of May’s defenestration and Boris ascendancy to Number Ten on a Brexit do-or-die ticket, have come back to the Tories from the Brexit Party after its resounding victory in the European elections, could once again vanish.

Brexit Election Tracker Goodwin mid-Oct 2019

So he has every incentive to play up the chances of a deal after all, and exaggerate its significance, if it can be presented as something which warrants getting a soft-Brexit over the line. The recriminations can come afterwards.

Brussels and Dublin equally have an incentive, to understate  the significance. The EU will be calculating that, by playing hardball, it increases the chances of a Remainer Parliament, which has already passed the Benn Surrender Act, forcing Boris, failing a 31st October Brexit, to seek an Article 50 extension on humiliating terms, probably involving conceding a second referendum.

In short, almost none of the actors in this drama has an incentive to be 100% genuine. Safer, perhaps, to assume that none of them are?

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The Fight for the Soul of the Tory Party

By deposing the Leader and Prime Minister largely responsible for its current ideological paralysis, the Conservative Party must resolve its intellectual vacuum about what modern conservatism stands for

Note: this is the longer and updated version of the article originally published at The Conservative Woman on Monday 1st October 2018

“There are some of us, Mr Chairman, who will fight, and fight, and fight again, to save the party we love”.

In 2018, 58 years after they were addressed by its then Leader Hugh Gaitskell to the 1960 Labour Party Conference, opposing its move towards the hard-Left and its embrace of unilateral nuclear disarmament, those words need once again be addressed to a party conference. Only this time, to the Conservative Party Conference, and moreover not by its Leader, but at her.

As if Theresa May’s duplicitous preparation and imposition on her Cabinet of her now justly infamous Chequers Plan were not bad enough, she has carried on championing it even after its crushing, personally humiliating dismissal by the EU.

May humiliated Salzburg Summit 3She continues to cling obstinately, not only to Chequers as the sole Brexit option she is prepared to consider, but also, incredibly, to Olly Robbins, her thoroughly discredited No 10 Brexit adviser, whose brainchild it was, and on whose ‘expert’ advice that the EU would accept it she persists in relying, to the exclusion of all others.

Yet not merely other, but superior, alternatives exist, being urged on her constantly by allies and opponents alike, which both better reflect the desire manifested in the Brexit vote for clear political, judicial and economic separation from Brussels, and give better opportunities for a newly-independent post-Brexit Britain to forge new trading links around the world.

The Institute of Economic Affairs’ Plan A Plus maximises the scope for eliminating damaging tariffs and regaining control over our fisheries, as well as facilitating new Free Trade Agreements with the world’s dynamically-growing economies outside the stagnating and scelerotic EU: Chequers keeps us tied into it as closely as possible.

IEA Plan A Plus Launch Sep 2018The Canada Plus arrangement gives us total freedom of control over immigration policy, and independence from the EU’s ‘Common Rule Book’: Chequers gives us neither.

Yet they fall on deaf ears. May has her Chequers Plan, she insists that nothing else is acceptable, and that, for her, is that. To the evidence, both that it is less popular than No-Deal, and that its unpopularity exacerbates that of herself and her party, she is impervious.Unpopularity of Chequers dealBut there is worse to come. May’s obdurate adherence to Chequers is being compounded by her acceptance at the very least, or even endorsement if not something more, of a grotesquely cynical ramping up of Project Fear.

The scaremongering operation born out of the Treasury’s pre-Referendum antipathy to Brexit is now being pushed once again by May in full Stockholm-Syndrome mode – on new ‘expert’ advice from her preferred source? – but this time against a No-Deal Brexit as an alternative to Chequers, as part of a deliberate “Chequers or Chaos” strategy.

We saw a foretaste of it in the run-up to the early-July Chequers Summit, with Airbus warning of an exodus from the UK in the event of No-Deal, very soon, curiously, after discussions with Business Secretary and arch-Remainer Greg Clark. But since then, there have been plenty other examples. To quote just two or three:

After having previously instructed them to spend their summer holidays touring Europe to drum up support for her Chequers Plan, May was in early September ordering Ministers to stress to the public that there was no alternative to it

Or try the Association of British Insurers’ warning that it would become illegal in the event of a No-Deal Brexit for insurance-based pensions to be paid to UK-nationality recipients resident in the EU. Fortunately, fairly easy to demolish.

Then, as recently as last week, May’s government theatrically appointed a Food Supplies Minister, “to oversee the protection of food supplies in the event of a No-Deal Brexit”. Such an appointment has previously confined to wartime and was not even deemed necessary in the rolling strikes and disruptions to distribution experienced in the 1974 industrial crisis and the 1978-79 Winter of Discontent.

In summary, not only do we have a Remainer Prime Minister sticking resolutely to a Brexit plan already rejected out-of-hand by an EU no doubt confident that further concessions can be wrung from a desperate Theresa May in deep political trouble, but shunning all other, and better alternatives. We also have a Remainer Prime Minister colluding in, if not directing, a co-ordinated attempt to frighten the British public into accepting it.Project Fear 2018

It’s perhaps hardly surprising that 56 per cent of those polled by Sky Data think Brexit will be worse than expected. The Remainer dominated media and political elite, including even the Governor of the Bank of England, have done little for the last 28 months except attempt to talk the nation into a state of catatonic panic. Mrs May must be so pleased.

Were Brexit the sole source of the Conservatives’ predicament, the crisis might – just – be containable. But overlying May’s Brexit shambles is the Party’s severe ideological vacuum, epitomised by the instinctively statist, authoritarian, May, devoid of any discernible guiding philosophy, personality, or leadership ability, and of which her self-inflicted Brexit shambles is arguably merely a part – its apparently total inability to come up with any ideas, vision or policies to counter the 1970s-throwback, reheated hard-Left socialism of Corbyn’s Labour.

Not before time, commentators have been lining up this past week to highlight the depth, and cause, of this malaise, and rightly condemn it.

In The Daily Telegraph, Allister Heath correctly laid the vast majority of the blame for Corbynomics being so ostensibly popular with Middle England on the faux-‘Conservative’ Party which has largely stopped countering it and in effect capitulated to it.

McDonnell’s Mad Marxism is very likely to be an electoral winner, warned Maggie Pagano at Reaction, not because of any intrinsic merits, but thanks to Theresa May’s Tories’ timidity & incompetence.

The Conservatives, observed Ryan Bourne accurately, also in The Daily Telegraph, have now spent so long agreeing with Labour’s negative portrayal of our economic system, and even imitating its policies, that they have now deprived themselves of any effective criticisms of them.

Ministers like Philip Hammond, noted The Spectator editor Fraser Nelson, are incapable of fighting back other than with left-wing prescriptions like surreptitious tax rises or expensive new spending projects, so that Corbyn is actually leading the nation’s intellectual conversation.

The Conservative Party must re-embrace freeing individuals & businesses from creeping Nanny-State paternalism & authoritarianism, in favour of aspiration, opportunity & meritocracy, pleaded former International Development Minister Priti Patel MP, writing in the Parliamentary magazine The House.

Red-Labour has been made electable by the pseudo-Tories, fumed Gerald Warner at Reaction, condemning the so-called ‘modernised’ Conservative Party for squandering the once-in-a-lifetime chance given to it by Brexit to cease being an empty, principle-free shell.

The Conservatives, fulminated The Spectator editorial in its pre-Conference edition, are functioning as Corbyn’s Useful Idiots: years of failing to make the case for basic liberty and the free enterprise system, of stealing Labour policies in pursuit of electoral advantage, have left them unable to explain why Corbyn is wrong.

And when usually loyal Conservatives like Charles Moore and Tim Montgomerie legitimately ascribe culpability for the Party’s ideological paralysis to May and call for her to go, in effect saying, rightly, that she is all but guaranteeing the advent of a hard-Left Labour government led by Corbyn and McDonnell, her days are surely numbered.

So in Birmingham, over the next two days, there are parallel Brexit and non-Brexit battles taking place. The unofficial, but never far from the surface, impending leadership contest is almost immaterial, because the ideological struggle over the shape, not only of Brexit but of Conservatism, will determine its outcome.

Will the Party continue on its present ever-Leftward drift, preoccupied with fashionably politically-correct social-justice and identity-politics, and convinced, bizarrely, that the only way to stop full-strength Corbyn economically is to offer diet-Corbyn instead? Or will it somehow re-discover the moral and intellectual firepower to oppose Corbynism absolutely and offer a distinctive and optimistic vision of a freer, less-taxed and better-off society?

For anyone wanting the latter, an irredeemably intransigent, incompetent, inflexible Theresa May, a disaster for her party, the country and arguably democracy itself, and who ideally should not even be giving the Leader’s Speech on Wednesday at all, must be forced to declare that it will be her last. If ever there was a need for a repeat-in-reverse on Tuesday of Macmillan’s Night of the Long Knives, it’s now.

Drastic though it is, the present circumstances do justify a palace coup – whereby she is told by a co-ordinated procession of individual colleagues visiting her one by one as with Thatcher in 1990, and in no uncertain terms, that the game is up: that she cannot lead the party through Brexit, much less into the next General Election which could follow a failure to get her Brexit deal through Parliament before March 2019: and that her only alternative is to resign, with effect from the conclusion of her speech, in favour of a pro-Brexit caretaker Prime Minister.

Labour Party Conferences may well be mainly characterised by a succession of extreme-Left demagogues delivering two-minute rants from the platform on arcane and largely indecipherable motions. But at least policy is discussed and even voted on, albeit after a fashion.

But in almost comically stark contrast, the obsessively stage-managed, anodyne, debate-free rallies of the slavishly-loyal, listening dutifully to ministers’ set-piece speeches, which now comprise the formal proceedings of Conservative Party conferences, have become notorious – rightly mocked even by The Daily Telegraph as merely “paying through the nose for the privilege of clapping”.

Conference audience dutifully applauding

If the Party, despite its current dire ideological and political predicament, yet again prefers to close ranks, eyes and ears, and contrives to hold a synthetically-orchestrated, reality-ignoring Conference: and if the pro-Brexit, anti-May dissenters yet again recoil from openly mounting a challenge, both to her conduct of Brexit specifically and her party leadership generally: then a Corbyn government is a near-certainty, and they will have no-one but themselves to blame.

That modern-day equivalent of Gaitskell’s “fight for the soul of the Party” needs to be taking place. In Birmingham. Here and now.

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Blueprint for a Peaceful, Legal, and Non-Violent Civic Resistance

How the Continuity-Remain Government’s and political class’ anti-democratic determination not to deliver the Brexit which 17.4 million voted for could be resisted and defeated

Note: this is the longer (and updated) version of the article originally published at The Conservative Woman on Saturday 11th August 2018 

Just after the 2016 EU Referendum, I speculated on Twitter that, despite the clear majority vote to leave, the overwhelmingly anti-Brexit ‘Liberal’-Elite, New-Class Establishment would not willingly respect and implement the electorate’s democratic decision without a fight, so that we might have to take to the streets, preferably non-violently, to achieve it.

In hindsight, even that pessimistic prediction was an under-estimation, but the revelations from Theresa May’s now infamous Chequers Summit, and developments since, serve only to exacerbate fears of an impending massive sell-out and a soft-Remain, Brexit-In-Name-Only, at the very least. In my view, even May conceding a second referendum, as the price of the EU’s agreeing a limited or even indefinite extension of Article 50, can’t be ruled out.

Assuming that supposedly Brexiteer Tory MPs continue to sit on their hands, and that the burgeoning grassroots revolt doesn’t grow sufficiently large or irresistible to force her resignation and replacement with a committed Brexiteer, the question arises: what next?

I don’t believe that May and her sycophantic majority-Remain government should be allowed just to ride roughshod over democracy itself. I hope there’d be huge outrage across the country, particularly among the 17.4 million who voted for Brexit, not least on the Government’s promise to implement their decision. But: to be effective, what tangible form should it take?

The ‘Liberal’-Elite Remainer Establishment would undoubtedly love us to take to the streets, so that we could, with the willing assistance of its similarly-inclined compliant media, be painted as ‘violent far-right’. Something more subtle would be required. To quote Sun Tzu in ‘The Art of War’ – ‘the wise general never fights a battle on ground of the enemy’s choosing’.

My provisional blueprint for a rolling programme of peaceful, non-violent, civic-resistance has as its inspiration the fuel price protests of 2000. A maximum of a mere 3,000 people, by cleverly strategically blockading the main fuel refineries and distribution facilities, and skilfully eliciting public support, not only credibly threatened to, but very nearly did, bring the country to a halt, but also, crucially, and as was admitted only later, very nearly brought Blair’s first government down.

Fuel Protests 2000 v2

We’ve become accustomed to believing that, between elections, we’re comparatively powerless. I’m not so sure. True, we may not have direct political power. But what 17.4 million of us in aggregate do potentially have is economic power, and in spades. There are several ways we can exert substantial unconventional political influence, and by wholly peaceful, legal means.

Mass, rent and council-tax strikes can adversely affect local authority finances very quickly. The key is in numbers. They can’t possibly sue and/or prosecute everyone, because that would overwhelm most local authorities’ meagre legal resources, as well as clogging up the Courts; moreover the cash-flow problems it would cause most councils would be damaging on their own. Imagine if council staff couldn’t be paid because of a mass rent and council tax strike.

The next option is for a mass boycott of the corporates who’ve joined in anti-Brexit scaremongering, whether of their own volition or at the Government’s request. 17.4 million is a lot of customers. . . .

Alternative supermarket chains to, for example, Morrison’s, or Sainsbury’s whose Blair-ennobled Lord (David) Sainsbury donated £4.2 million to the Remain campaign, are available. Watch their share prices start to tank if costs rise from un-sold or perishing stock, as sales slump and profits start to slide.

We don’t need to choose, or continue to use anti-Brexit Branson’s Virgin-branded trains, banking services, or satellite TV. Not only are there alternative online retailers to Amazon available, but can we not do without most of what we buy from Amazon for three months?

Because it could take as short as that. Remember, the modern mass retailing business model is predicated on just-in-time delivery for high-volume sales, thus minimising stock-holding and warehousing costs. A significant interruption to the constant flow of high-volume sales, via a mass customer boycott, has the potential for major logistical problems, a build-up of non-shifting stock, and with all the attendant cost ramifications and effect on profit.

And that has the additional possible effect of reducing the State’s tax take, both from VAT on sales and from corporation tax on company profits further down the line.

You can probably think of many more:  but this final one might, I suspect, be a potential clincher. It exploits the old adage that if you owe the bank £50,000 and can’t repay it, then you have a problem: but if you owe the bank £50,000,000 and can’t repay it, then it’s the bank which has a problem. Because a mass withholding of mortgage payments can affect the entire banking system faster than you might think.

This is where it gets a bit technical, but please bear with me.

It’s all to do with the extra capital which, under international banking standards, a bank must retain, once a mortgage goes into non-performing mode for two or three months. Not only that, but banks then also have to increase the provisions they set aside against default and losses too, so it can be a double-whammy. Provisions are a charge against profits, so it means lower profits, no new lending permitted, & in extremis, restrictions on withdrawals, because liquid deposits can form part of the (greater) capital that suddenly has to be retained.

When a bank lends money, it creates an asset of its own –its right to receive repayment, or the indebtedness of the borrower to the bank. But under those same international banking standards, the bank must assign that asset a risk-weighting, which in turn dictates the amount of capital the bank has to retain against it, and which therefore cannot also be lent.

Lending to sovereign governments, particularly those with good credit ratings, can typically be risk-weighted low. Governments, after all, have the power to tax their citizens, backed by the threat of State coercion, to stump up the money to meet their debts, and so are considered a good risk.

Likewise, lending to good-quality corporates, especially those with a high Moody’s, Standard & Poor’s, or Fitch credit-rating, can be risk-weighted only slightly higher than medium-quality sovereign debt.

Basel II Risk Weights

Residential mortgages are typically risk-weighted at 35 per cent to 40 per cent: which means that, for a residential mortgage portfolio totalling, say, £500 billion, the bank must retain, and therefore not lend, a capital base of between £175 billion and £200 billion to support it.

But if a residential mortgage goes into default through non-payment, its risk-weighting has to rise substantially, and can double, to at least 70 per cent to 80 per cent. If a whole £500 billion residential mortgage portfolio went into payment arrears, then the bank would immediately have to set aside between £350 billion and £400 billion against it, not between £175 billion and £200 billion. That’s between £175 billion and £200 million which, suddenly, is no longer available for lending on other, new borrowing, and at a profitable interest-rate margin.

I used to be involved in ‘What If?’ modelling for this kind of contingency: the planning assumed increased mortgage defaults from a major economic crash, but the effects from a mass withholding of mortgage payments aren’t dissimilar.

Clearing banks & building societies, as prime retail lenders, especially, are more vulnerable than often assumed. The shock of a significant part of an entire residential property-mortgage lending book suddenly needing double the previous capital base just to support it is a potential nightmare scenario, particularly for primarily-retail lenders.

And if that newly-doubled capital base is comprised partly of liquid deposits, whose withdrawal has to be restricted, then depositors may start to worry that they may not be able to get their money out. And then you have all the ingredients in place for a bank run. Remember Northern Rock?

It doesn’t stop there. Say the bank decides to foreclose on a mortgage and sell the asset which comprises its security. But banks aren’t in the residential property management business, and don’t want bricks and mortar assets sitting on the books, so they will typically go for a quick sale, even at well below market value, to recover their debt quickly.

Now imagine a small residential close of 20 houses, average market value, say £300,000, but including two whose owners are in default on their £200,000 mortgages, and which the bank as mortgagee is therefore threatening to re-possess and sell.

Residential close

The bank wouldn’t be bothered about market value: it would merely want to recover its debt as fast as possible. So suddenly, two allegedly £300,000 houses are potentially coming up for sale at only £220,000 each. What happens to the market value of the other eighteen? And how do their owners feel about that? Translate that on to a national scale, and suddenly you’re looking at a potential house-price crisis as well.

But, and as Sun Tzu himself might have said, you don’t actually have to create a bank run and/or a house-price crisis – you just have to create the plausible prospect of a bank run and/or a house-price crisis.

To my mind, the ironic beauty of this kind of overall strategy is that, instead of challenging the Remainer Establishment-Elite directly, on the streets, as it would prefer, it instead targets, and in its key aspects – rampant retail consumerism, fractional reserve banking, cheap credit, and a property bubble – the very system which the crony-corporatist globalist oligarchy has created and encouraged at least partially to enrich and empower itself, and then uses it as a weapon against its own creators. Sun Tzu, I suspect, would approve.

These are merely the economic measures. There are others. For example, it needs only six vehicles travelling sedately, but perfectly legally, at 40-50 mph in a horizontal line across all six lanes, to induce motorway gridlock.

In 2000, we saw what just 3,000 people – a mere 0.02 per cent of 17.4 million – so nearly achieved by boxing clever. Just like Sun Tzu favoured, they targeted their opponent where he least expected it, at a point where he was weak, and would have preferred not to fight.Fuel Protests 2000 v1

Imagine what pressure could be brought to bear on a Brexit-denying government and political class by a concerted, concentrated mass participation in a rolling programme of peaceful, non-violent, civic resistance on the same basis.

It feels increasingly unlikely that we’ll succeed in getting our democracy-disdaining political class to implement the democratic result they promised to respect and honour by appealing to their principles, or to their hearts and minds.

But then, as a shrewd, if cynical, man reportedly once said: ‘If you’ve got them by the balls, their hearts and minds will soon follow’. 

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Bring on a General Election: and yes, even a hard-Left, Corbyn-led Government

A General Election would provide the opportunity, both for the Conservative defeat needed for it to lance the boil of its own Left-‘Liberalism’, and for the experience of a hard-Left, Corbyn-led Government necessary to lance the boil of Socialism.

Note: this is the long (and updated) version of the article first published at The Conservative Woman on Friday 22 June 2018. 

That Theresa May, on Wednesday 20 June 2018, survived that afternoon’s vote on Tory arch-Remainer Dominic Grieve’s amendment to the EU Withdrawal Bill, which sought to give the House of Commons power in effect to halt Brexit in the event of no deal being agreed with the EU, was no victory, but yet another fudge, kicking the can down the road.

It was preceded by a Prime Minister’s Questions of quite staggering awfulness, not only from her, but from almost the entire House, with both sides first fawning over an Imam whose public utterances at the very least imply he wants any criticism of Islam banned, then competing furiously to virtue-signal their achingly politically-correct Left-’Liberal’ credentials at every possible opportunity.

That, plus the long-evident reluctance of most of its overwhelmingly pro-Remain membership to accept and implement the EU Referendum result, finally convinced me. The present Chamber is moribund, even rotten, led by a Prime Minister who is Dead May Walking, and another election is needed.

Why am I so keen on a General Election now? Or, if not keen, nevertheless reluctantly convinced of the necessity for one, despite the potential baleful adverse consequences? For three reasons.

Firstly, with both political attention-span and memory being relatively brief among the vast majority of the public who wisely don’t pay much day-to-day attention to politics, by the time 2022 comes round, many people will have largely forgotten the 2017-18 attempted, if not actual, betrayal of the 2016 EU Referendum result.

Not to mention, also, being bleakly realistic, that some of those now most angry about that betrayal and thirsting for the chance to wreak electoral revenge may, by then, no longer be around to vent that anger at the ballot-box. An early election would mean that voter frustration with both parties has an outlet before it subsides.

Next, the current Vichy-‘Conservative’ Party needs to suffer a heavy defeat, along the lines of the 1906, 1945, and 1997 landslides, to bring about either a split with, or a purge of, its Cameroon-Blairite Left-‘Liberal’ wing, whose current ascendancy is driving the Party Left-wards, both economically and culturally, with dire results.

Remember, in the last year alone, Theresa May has proposed having the State fix the price at which energy suppliers can sell their product: signalled an intent to intervene in the price/demand side of the housing market instead of liberalising planning controls to incentivise supply: threatened to crack down more on ‘hate-crime’ and ‘Islamophobia’, aka free speech: promised to control and police the internet: approved lifestyle and behaviour-nudging taxes: resiled from tackling mass uncontrolled immigration: and proposed throwing another £20 billion at an unreformed NHS while praising it fulsomely in ever more reverential terms.

And that’s before we consider the Miliband-Lite Tories’ eager appeasement of the Green Climate-Change lobby, the racial and religious grievance industries, an increasingly corrupt and partisan United Nations, and, above all, a vengeful and intransigent European Union over Brexit.

This resolute Leftwards march is no temporary expedient, but merely the latest phase in a process which has been going on for years, even decades. The great failings of the ‘Conservative’ party since the end of World War II, with the exception of the 1980s which sadly must now be viewed as an aberration, have been its reluctance to counter the Left intellectually, and its consequent willingness to accept the Left’s policies, especially when attractively packaged, for the sake of occupying office.

Indeed, the writer Peter Hitchens recounts remarks by YouGov’s Peter Kellner, man of Labour and the soft-Left through and through, to the effect that from time to time a Conservative government must be allowed to occupy office, so as to maintain for the electorate an illusion of pluralism and choice, but provided that it does nothing to unravel previous Labour administrations’ policies. Wittingly or unwittingly, the ‘Conservative’ Party has been happy to comply.

The Party therefore needs an unequivocal electoral defeat and period in opposition, to force it to re-think from first principles what it stands for, then devise a portfolio of policies that aren’t merely politically-promising, but intellectually-consistent, in order to be able to capitalise on it when the Corbynite-Labour bubble bursts.

Finally, the boil of Socialism now seemingly infecting so much of the electorate needs to be lanced. But with the increasingly soft Left-‘Liberal’ ‘Conservative’ Party having totally abandoned making a robust case for low-tax, small-State, civil-libertarian, free-market conservatism as the engine of prosperity, freedom and growth, in favour of timidly apeing Socialist-Labour in the vague hope of a few Corbyn-Lite policies enticing voters back, I  cannot see that happening without a new generation of voters experiencing for themselves the malign reality of a hard-Left government.

Psephologically, before the 2017 General Election, the Labour-to-Conservative crossover point – the age at which people switch to voting Conservative rather than Labour – was assumed  to be roughly 34. 

Age predictor UK politics

But the 2017 General Election, the first with Corbyn as Labour leader, changed all that. The post-election analyses moved that crossover point back by an entire decade or more, to somewhere between 44 and 49 . . . . . 

UK GE2017 voting by age groups comp

. . . . . and Labour now enjoys majority support in all voter age groups between 18 and 45, including the highest-ever ratings among under-30s since 1964.

Hist under-30s support Labour & Sep 17 vote intent by age comp

This shouldn’t be altogether surprising. It’s now nearly 40 years since Britain last had an economically-Left Labour Government (in contrast to the culturally-Left governments of all parties which we’ve had for about 35 years), so that almost no-one under the age of, possibly, 55 at least, has any memory or experience of actually living under one.

Add to that two more factors: firstly, the predominantly Left-leaning sympathies of the UK mainstream media, which means Corbyn’s socialist policies are seldom subjected to the critical examination and questioning directed towards their smaller-state, lower-taxes, and free-market leaning equivalents: and, secondly, the left-wing bias of the Education profession by which two generations have been indoctrinated . . . . . .

Teachers voting intentions 2015 & 2017 GEs comp. . . . . . . . and it’s arguably astonishing that Corbyn’s socialist prescriptions, superficially so enticing to those who’ve never suffered them in practice, aren’t even more popular. 

This is why reminders of hard-Left Labour’s insalubrious history of either supporting or at least excusing tyrannical Communist dictatorships – even while it simultaneously condemned the West of human rights, free speech and the rule of law as fascist – cut no ice. The past is truly another country.           

Corbyn does support some bombingThis is why pointing out Corbyn’s uncritical support for the IRA throughout the 1970s and 1980s, even as it was blowing up British women and children on the streets of the United Kingdom, doesn’t resonate. To today’s devotees of the Corbyn Cult, this is ancient history. It’s 30 years since the end of the Cold War, isn’t it? It’s 20 years since the Good Friday Agreement, isn’t it?

This is why warnings of strikes, power-shortages, punitively-high taxes, and fiscal mismanagement from Labour runaway spending and borrowing, have so little political cut-through with voters, from Generation X-ers through Millennials to Generation Z-ers. They’ve never actually seen it in Britain, so they just don’t believe it: and in my view, nothing short of experiencing for themselves the horrors of living under a left-wing Labour government will dispel their illusions.

In short, we’ve arrived at one of those points which seem to occur every 40 years or so, where a major political upheaval is needed to generate political resuscitation and renewal.

Yes, of course there are risks, and very serious ones, from a hard-Left Labour government, and as someone who abhors every manifestation of Leftism, I’m the first to acknowledge them. The Corbyn-McDonnell Terror won’t be pleasant. But capital markets, via demanding higher borrowing rates, and threatened or actual capital flight, via reduced tax receipts, have a habit of curbing the worst excesses of economcally-Left Labour governments.

In any case, is that really so worse than the alternative? Of years of a Continuity-May ‘Conservative’ Party, ever more in thrall to mushy Left-‘Liberalism’, governing hesitantly and ineffectively while the hard-Left poses self-righteously as Salvation Denied?

Just as, to cure a malignant cancer, painful chemotherapy has to be endured, so rejuvenating conservatism and defeating Socialism may require some temporary hurt. But the sooner the treatment starts, the less painful it is, and the sooner comes the cure.

Fortune favours the brave. Bring on that election.

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The Tories Don’t Deserve To Win – Labour Deserves To Lose

Neither the Tories, with their statist, triangulating Manifesto, nor Labour, with its destructive socialist vision, deserve victory in this General Election

In a few hours, this General Election will be all over bar the results and their consequences.  Yet the usual anticipation of Election Night is muted by an almost palpable sense of relief at the approaching end of a campaign offering such a lacklustre, uninspiring choice.

For Theresa May and the Tories  it was supposed to be the Brexit Election: where, wanting both a bigger Parliamentary majority and her own popular mandate to implement it, she would offer a vision of a Britain mitigating the risks but also exploiting the advantages from recovering political and economic sovereignty.

Both, paradoxically, dictate some loosening of State and regulatory shackles on the economy, a facilitation of innovation and entrepreneurship: especially as the economy inevitably goes through a period of uncertainty and flux as powers are repatriated and trading relationships either reset or forged from new. But that isn’t what we’ve got.

The first intimations were reasonably heartening, But then came the Manifesto.

2017 Manifesto on Core Beliefs

Disparaging talk of “untrammeled free markets”, belief in “the good that government can do”, and abhorrence of “inequality”. The context leaves little room for doubt that the offer to voters is one of an interventionist State, concerned not so much with opportunities, but with outcomes.  

Further on, we are promised an Industrial Policy, a National Productivity Investment Fund, worker representation on boards, and a commitment to continue spending 0.7% of GDP on virtue-signalling foreign aid.

Finally, we get to this Greenery-gullible horror. Yet it accompanies a pledge to give British voters “the lowest energy costs in Europe”, notwithstanding that those two aims are mutually incompatible.

Worse still, it’s to be achieved, not by slashing Green taxes and encouraging more competition among energy providers via supply-side measures, but by capping prices: the same policy that, as recently as 2015, the Tories rightly damned as economically-illiterate when included in Labour’s election manifesto by Green-Left Red Ed Miliband.

So, in aggregate, a largely social-democratic policy programme, advocating a version of active-state Rhenish corporatism that would not look out of place in the manifesto of any milquetoast European Christian-Democratic party.

One can speculate endlessly on the reasons why. Possibly they lie in the fact that May is an instinctive paternalist (should that be “maternalist”, I wonder?) technocrat who’s unconvinced of, as Martin Durkin puts it, the potential of free markets to liberate and enrich.

Perhaps, because Labour has gone so far Left, she was persuaded that a Clinton-Blair style triangulation, with the Tories parking their tanks on “moderate” Labour’s lawn, would work electorally. Maybe she was afraid of frightening off the 2 or 3 million Labour voters who voted for Brexit and want to see it happen, and also the One-Nation tendency in her own party still looking for any excuse to derail Brexit. Who knows?

Then there’s been the campaign itself. May  – and it has been almost exclusively May, from battle-bus, through campaign literature, to media, and all points in between – has come across as by turns either robotically evasive, or uncomfortable and unconvincing when pressed on detail.

The forced U-turn on Social Care brought her campaigning deficiencies into sharp focus, but combine that with her natural somewhat leaden, flat-footed demeanour, plus a requirement to face an inquisitorial public & press far more often than she’s ever had to do before, and the result has been, not failure, but certainly sub-par performance.

Both she and her Party, have emerged from the campaign diminished, and not just in opinion-poll ratings, either. “Strong and Stable” has become something of a stick to beat her with. The whole thing has been rather insipid, disappointing, and very far from enthusing.

Consideration of Corbynite-Labour’s hard-Left manifesto need not take us as long. “Insipid” isn’t a description that could remotely be applied to it: “terrifying” or “economically-catastrophic” hardly begins to cover it, such is the red-in-tooth-and-claw programme that unrepentant socialist Jeremy Corbyn has in mind for the country.

The appalling consequences of a Corbyn-led Labour government have comprehensively dissected, with this by Andrew Lilico being merely one of the latest.   

As Lilico points out, fiscally and economically Labour would impose on Britain the highest level of taxation since World War II: the nationalisation, almost certainly without compensation, of the most important industries: a return to widespread (and excess) unionisation: deliberately punitive taxes on financial services designed specifically to deter private capital: and the effective collectivisation of private business property through imposing public interest duties inimical to both private property rights and commercial interest.

Moving from the general to the particular, just one example can suffice to show hard-Left Corbynism’s economic wrong-headedness. Despite favouring continued uncontrolled mass immigration, Labour proposes to deal with the housing shortage by a price-cap on new houses.  

All that that is likely to achieve is a shortage of new houses. If Labour really wanted to boost the supply of low-cost new houses, it would pledge to ease planning restrictions, not threaten to impose State price and even purchaser – priority to State employees, naturally – controls on builders. 

Non-economically, a Corbyn-led Labour government would see restrictions on the police, the reduction of the Army to a notional force only, and the withdrawal of Britain from its role in international security.

And this before even considering the implications of Corbyn’s 30+-year record of not only sympathy but vocal backing for all manner of anti-British, anti-Western groups, including those engaged in active terrorism, even on British soil.

And thus we come to the end of a singularly uninspiring campaign on what should have been the most important election in Britain for decades. The great issue for which it was ostensibly called to reinforce has been barely discussed beyond trite soundbites and banal generalities.

Hard-Left Labour certainly deserves to lose this election, and lose it heavily: but the Conservatives, on their manifesto and especially on their stuttering and lacklustre campaign, really don’t deserve to win it, either.

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