What next for Labour – Wes Streeting or Tony Blair?
The Labour Party is at a crossroads
The Tories promised to make air-conditioning legal again today (by reversing building regulations brought in under the last Conservative government). But could you afford it even if they did? Thanks to the Iran war – not to mention Ed Miliband’s energy policy – from July, the new energy price cap could add more than £200 to the average annual bill (see our Stat of the Day, below).
In other news, Tony Blair told the Labour Party they needed to be in the business of ‘enabling, not directing’ the economy, if they are actually interested in growth. Good luck with that. And as Joseph Dinnage wrote for CapX today, if you think the current government is bad, the rivals already jostling to replace Keir Starmer look set to tread even more heavily on our lives.
In better news, satellite internet powered by Elon Musk’s Starlink may be about to fix the dreadful wifi on British trains, and the Government is consulting on tariff-free chocolate, baked beans and pizza to bring down the cost of the weekly shop. But why stop at baked beans?
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
What next for Labour – Wes Streeting or Tony Blair?
Joseph Dinnage
‘Wes Streeting reminds us that the best of a bad bunch can still be pretty awful.’
Having resigned as Health Secretary, Wes Streeting is setting out his stall for Labour’s leadership, and yesterday announced that he would ban social media for under-16s. Not only would this not work, but it also signals a disturbing, interventionist development in the Labour Party. A far more convincing vision for Britain and the Government has been published by Tony Blair. Read More
When does a charity become an arm of the state?
Benjamin Elks
‘In 2024, large charities received £12.4 billion from taxpayer funds, through a mixture of contracts and grants.’
Measuring the size of the state by its workforce or organisational structure still only tells part of the story. Sitting outside the official figures are a swathe of groups that rely on the public purse for a significant portion, and sometimes all, of their income – charities. here's nothing wrong with taxpayers’ money going towards service delivery via the third sector. But lobbying for policies voters may profoundly disagree with crosses a line. Read More
The Capitalist
In this week’s episode of the CapX podcast, Marc Sidwell is joined by economist Samuel Gregg to discuss a worrying new consensus forming across both the Left and Right: that using industrial policy to achieve the economic outcomes we want is just common sense.
Watch on YouTube; listen on Apple Podcasts or Spotify.
The CapX Reading List
The best of the web today
Will Tony Blair ever own up to his mistakes?
Ross Clark, The Spectator
‘Virtually alone among Labour figures at the moment, he seems to understand that the economy is being brought low by high taxes and a welfare system which is draining life from the rest of the economy.’
On the website of his eponymous institute, Tony Blair has published a long essay which reminds us of the fact that between 1997 and 2007 we had the novelty of a Labour government which didn’t destroy the economy. His new diagnosis of Britain’s issues is largely correct, and Blair was a better PM than any current Labour challenger would make. But we might be more inclined to listen to him if he admitted his mistakes in office. Read More
Starmer's steel tariffs are as braindead as Trump's
Andrew Griffith, City AM
‘The road to failure is paved with good intentions.’
As ministers were drawing up their plans to fully nationalise British Steel, they announced a slate of Trump-style tariffs to tilt the balance in favour of their newly owned business and against the rest of British industry. The result of these tariffs may be to cosset and prop up British Steel, but they will bring with them the risk of the further loss of advanced manufacturing capacity across Britain. Read More
They meant well – but built HS2
Steve Baker, Fighting for a Freer Future 🔒
Stat of the Day
And if you want more...
– A housing scarcity machine (The Critic)
– Europe is an American power (Engelsberg Ideas)
– Is this the end of the fighter jet? (UnHerd)
Can we make CapX better?
Or reply to this email to let us know your thoughts.
We'll be back tomorrow.