Robert Jenrick’s new economics adviser Mitchell Palmer is under fire – for his dangerously free market views. Anyone interested should also read his many excellent articles for CapX, on such terrifying themes as: scrapping stamp duty, the need to get Britain’s debt under control and the importance of reading Adam Smith.
Then again, perhaps we shouldn’t be surprised, when a Labour MP has tweeted that the private sector wouldn’t exist without government contracts.
Below you’ll find all the latest pieces from CapX, plus what we’re reading from around the web.
Marc Sidwell
Editor, CapX
Today’s Takes
Fresh thinking from CapX
Can Reform fix the welfare state?
Joseph Dinnage
‘Britain’s welfare crisis strikes at the heart of what it means to be a functional, prosperous nation.’
Robert Jenrick’s plan to slash £50 billion a year from the welfare bill isn’t perfect, but it is a brave move for Reform UK, whose target seats are among the most welfare-dependent in the country. Jenrick's own majority of 3,571 is smaller than the number of PIP claimants in his constituency. Yet someone needs to cut the bill. Read More
Nimbys are a national security threat
Dalibor Rohac
‘A country that cannot build a substation in under a decade cannot credibly promise to surge production in a crisis, and our adversaries know it.’
We talk about Nimbyism as if it were just a housing problem. This week’s guest on The Capitalist (see below) argues that it’s much bigger than that. American industry built 729 Sherman tanks a month in 1942; today the Lima plant only manages a few dozen. Deterrence only works if you can still build things. Read More
Stat of the Day
Best of the Web
The lesson from GCSEs
Nick Gibb, The Telegraph 🔒
‘Every pronouncement by Labour’s Education Secretary and her predecessor has been about lowering expectations and cosying up to the teacher unions.’
The latest GCSE results show what schools can achieve when expectations are high. At Michaela, where almost 40% of pupils are on free school meals, 82% of grades were a 7 or above – against 22% nationally. Yet Labour have halted free school expansion and are dropping compulsory resits for technical students. They never learn. Read More
How will Trump's economic war on Iran play out?
Charles Lipson, The Spectator
‘Harsh as this combined economic pressure is, few analysts believe that such pressure alone can topple the regime.’
America is ratcheting up sanctions on Iran, with secondary measures aimed at anyone still doing business with the Islamic Republic. The UAE has already cut ties. But Iran has no incentive to come back to the table – and Tehran has three months to make trouble before the US midterms. Read More
Three reasons Britain stopped getting richer
The Capitalist: Dalibor Rohac on outbuilding our enemies
And if you want more...
– The trade barriers that matter aren’t tariffs (Commenda)
– From 365 insulin jabs a year to 52 (NICE)
– When Paris wasn’t fed (Daily Economy)
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