Prices seem to be increasing non-stop, but nowhere is this felt more keenly than by the 15 million, give or take, drivers of diesel vehicles. The average price of diesel has risen above £2 a litre in the UK for the first time. Today, Donald Trump’s encouragement has led to Europe releasing a large amount of their diesel stockpiles. Whether that will be enough to head off the US President’s threat to block diesel exports and push UK prices even higher remains to be seen.
AI is also provoking a lot of concern, in America and the UK. But while many fear that AI is about to take their jobs, Liya Palagashvili writes in CapX today that instead it seems to be making it easier for people to change how they work, and become a solopreneur. Of course, whether AI will continue to do what its human bosses tell it to remains to be seen.
Below you’ll find all the latest pieces from CapX, plus what we’re reading from around the web.
Oscar Gill-Lewis
Deputy Editor, CapX
Today’s Takes
Fresh thinking from CapX
The AI jobs debate is ignoring the self-employed
Liya Palagashvili
‘AI may be reshaping the labour market not by eliminating work, but by changing who needs a firm to do it.’
AI’s effect on jobs is showing up less in how many people work than in how they work. Self-employment has increased three times faster than employment in industries that use AI a lot. Policymakers are focused on the threat of massive job displacement, but they should be thinking about preserving workers’ ability to move between employment and being a solopreneur. Read More
Football's regulator is not fit for purpose
Len Shackleton
‘At the moment it looks as though we will have an endless succession of appeals by City’s well-paid lawyers, hoping to spin out the process for years to come.’
The Manchester City scandal looks set to drag on, even after a finding that they breached Profit and Sustainability Rules. One rationale for these rules is fairness between clubs, but that can also restrict competition by not allowing new owners to use their resources to challenge incumbents. Meanwhile the new independent regulator is trying to sit this one out. That’s not good enough. Read More
The Capitalist: young people need jobs, not handouts
What should we do about the nearly one million young people not in education, employment or training?
The Shadow Work and Pensions Secretary Helen Whately joined Marc Sidwell on The Capitalist on the day the Conservatives unveiled their answer: a ‘Get to Work’ plan that would require under-25s claiming benefits to join an intensive programme from day one, or lose their payments.
They discuss the case for taking family finances into account when young people claim, as well as the party’s separate proposal for a prepaid benefits card for the long-term unemployed that would block spending on alcohol, tobacco and gambling. Whately also explained why she still sees Margaret Thatcher, not the 1970s Andy Burnham looks back to, as the model for a Conservative government.
Best of the Web
Tories must stand up for free markets
Sebastian Payne, The Times 🔒
‘Private enterprise has served the public better than government bureaucracy.’
Andy Burnham has dedicated his premiership to reversing ‘40 years of neoliberalism’. But in those four decades we saw faster improvements in wealth and health than any comparable period in our history. It’s time to defend free markets again – and the Conservatives must step up. Read More
What’s wrong with the triple lock?
The wrong way to cut the Civil Service
Arthur Reynolds, ConservativeHome
‘Voters will never reward politicians for delivering Civil Service reform at the expense of other policies.’
Danny Kruger has said Reform UK want to cut the headcount of the Civil Service in half. But there can be too much of a good thing. That could require a quarter of a million redundancies – around 1% of all full-time jobs in the UK. Even if it didn’t provoke an economic downturn, such a move is unlikely to be popular with those affected, or their families and friends. There are better ways to cut government jobs. Read More
Stat of the Day
And if you want more...
– Closing Europe’s dynamism deficit (Project Syndicate)
– Keep the case for free trade simple (The Daily Economy)
– Radical right-wing elites (Law and Liberty)
Can we make CapX better?
Or reply to this email to let us know your thoughts.
We'll be back on Sunday with the Weekly Briefing.