Forget monkeys and ponies: our banknotes will soon swap Winston Churchill, Jane Austen and Alan Turing for bumblebees, hedgehogs and barn owls. Spare a thought for the common kingfisher – which was booted from the final lineup in favour of the Atlantic puffin, despite getting more votes. Who will stand up for democracy?
Meanwhile, the Renters’ Rights Act continues to deliver, by, er, pushing up rents. That’s not what the Government had in mind, but it shouldn’t be a surprise.
And in more bad building news, Taylor Wimpey won’t take on new projects in London as the economic case for doing so has evaporated. Listen to Liam Halligan’s recent conversation with James Cleverly on what it would take to turn that around.
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
Badenoch’s Tories have rediscovered Adam Smith
James Price
‘She [Badenoch] promised to build a missile and drone defence system called Britannia Shield, telling the hall that if Russia fires a missile at Manchester, Andy Burnham’s £2 bus fares will not save anybody.’
Are the Tories back on track? That’s what Kemi Badenoch was trying to prove in her speech on the final day of the Conservative conference. Her approach was a welcome return to the principles of Adam Smith. Whether this will be enough to win round disaffected voters remains to be seen. Read More
What Britain must learn to solve its debt crisis
Valentin Boboc
‘Whatever the governing party, managing interest groups and political loyalties becomes harder when there is less money to go round and a general sense of crisis.’
Many countries have faced a debt crisis. The easiest way to escape one is by encouraging a growing economy. But most nations have to rely on either raising taxes or cutting spending. Rachel Reeves tried a very modest cut to welfare spending but failed because of the huge backlash. Britain can learn from Estonia and Latvia, where parties that delivered austerity still won re-election. Read More
Stat of the Day
Best of the Web
A conference at home with ideas
Emma Revell, ConservativeHome
‘The overarching focus of this conference has been on messages which the Centre for Policy Studies has been at the forefront of communicating.’
Some journalists have said that Conservative conference was dull. Only for those hoping for headline gaffes or blockbuster defections. In fact, the event was animated by an appetite for detail, from scrapping the Aarhus Convention to ending the childcare tax trap. It showed a party returning to its values and sound policies – many proposed by the CPS. Read More
Why won't the Tories talk about inflation?
Ryan Bourne, The Times 🔒
‘There’s much throughout to suggest that Kemi Badenoch’s Conservatives will make economics central to policymaking again. Good.’
The Tories are singing from the free-market hymn sheet again. But are they playing it too safe? While the party’s 1976 blueprint made conquering inflation its first priority, Badenoch’s version skips it altogether. Her principles are also vague on ageing and AI, two big challenges where a truly Thatcherite answer might upset the party’s own voters. Read More
Matt Ridley: prosperity creates new luxuries
The Capitalist: Andrew Griffith & Liam Halligan
And if you want more...
– Britain needs a bond crisis (UnHerd)
– What does it mean to be English? (CapX Archive)
– France’s riots: revolution without utopia (Engelsberg Ideas)
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I want Churchill back!!!!!