Mogglebox

Jacob Rees-Mogg and Jess Phillips star in a political version of Gogglebox on Sophy Ridge on Sunday. It sort of works…

Mogg Endorses Trump

Jacob Rees-Mogg tells the Daily Politics that he would vote for Donald Trump in the US Presidential Election rather than a “left-wing Democrat”…

City Boys Staying in London

surprise

Mark Carney is up in front of the Treasury Select Committee this afternoon where he is going to have to explain why he cut rates and re-started QE prematurely to Jacob Rees Mogg, who thinks “He acted too early in my view. There was not sufficient evidence at that point that further monetary stimulus was needed and there are adverse consequences of abnormally low interest rates as well as beneficial consequences.” As the Citigroup surprise index (above) shows, most City expert economists got it wrong on a Brexit recession. In the last week alone Morgan Stanley, JP Morgan and Credit Suisse have reverse-ferreted on their Brexit recession predictions. None have accepted Guido’s £1,000 wager offer…

fundmanagers-staying

On a similar theme it is worth reading the Centre for Policy Studies analysis out today on the pros and cons of Brexit for the financial services. Just as the consensus on a Brexit recession was misplaced (even Remain campaign financing investment bank JP Morgan has now conceded they were wrong) so too will the “City will lose out to Paris / Frankfurt / Dublin” consensus soon dissolve.  The above chart from Prequin shows that not many Masters of the Universe are keen to enjoy the Frankfurt nightlife…

What the City does want is “passporting”, assurance that the Square Mile’s firms will still be able to trade across the EU. The majority of the City’s exports in financial services (60%) go to countries outside the EU – not surprising when not one of the top 10 financial centres is in the EU. China and India are already choosing to do their capital market transactions in London, these are the growth markets of the future. In reality it is likely that if “passporting” obstacles were to be deliberately constructed, they could if necessary be circumvented by booking trades through EU based subsidaries. Zurich is the biggest financial centre on mainland Europe, it has bilateral deals with the EU, the City will want the same…  

Friday Caption Contest: Posh Aerosol Edition

Rees-Mogg

The winner this week will get a copy of Iain Martin’s new book, Crash Bang Wallop: The Inside Story of London’s Big Bang and a Financial Revolution that Changed the World. It’s available on Amazon now…

Buy me on Amazon

Entries in the comments, please…

Labour MPs Love Theresa May As Well

THERESA MAY MOST IMPRESSIVE MPS

It’s not just Labour’s former advisers who like Theresa May – their MPs think she’s impressive too. Theresa May was deemed “most impressive parliamentarian” by no less than 35% of Labour MPs, putting her second on the leadership table only to be beaten by Cameron in an Ipsos MORI poll of members. While May was deemed impressive by more ministers, the ex-cabinet ministers sitting bitterly on the backbenches put Dave ahead in the overall stakes by just 1% – to 26%.

Labour’s strongest contender was unsurprisingly Hilary Benn, coming joint sixth with 6%, but was beaten to a top five place by Angus Robertson. Labour MPs went mostly unloved, with Tom Watson and Dan Jarvis gaining the support of just one MP each (possibly themselves?). One Conservative joker backed Corbyn for the title. If Labour MPs like May so much, why don’t they just…

Congratulations to the Moggs

Their fifth child, Alfred Wulfric Leyson Pius, announced in this morning’s Telegraph…

H/T Henry Wallop

Mogg Mauls PM’s Thin Gruel

Jacob Rees-Mogg was doing the rounds last night as the PM desperately scrambles to finalise a deal on his proposed renegotiations before Friday.

The Eurosceptic MP started the night on Channel 4 News, where he was asked by Jon Snow about how many Tory MPs he suspected would come out in favour of Brexit. He declined to give an estimate, instead referencing Guido’s very own MP Referendum List. That’s another happy reader then…

However the night was still young, and so Rees-Mogg went on Newsnight later to further hammer home the paucity of Cameron’s renegotiations. Speaking to Evan Davies about the potential the PM wouldn’t secure a deal he said:

“It’s the flim-flam that you expect around these negotiations so that they can go through the night and then our hero returns, triumphant, game, set and match. We’ve seen all of this before in European negotiations, my guess is that most of it is broadly agreed. We haven’t asked for anything, the thin gruel is all we’ve asked for, and there’s no reason for the EU not to give it to us, if you don’t ask for anything you might as well be given nothing. And that’s where we are and it will all work out, and then we’ll be expected to sing Hosanas when the Prime Minister returns”.

With the Mogg in such fine form it’s a wonder he isn’t leading the out campaign…

The Mogg v Dimbleby

Jacob Rees-Mogg was on fine  form last night on Question Time, with a choice retort to chair David Dimbleby.

H/T @Holbornlolz

The Mogg On Dave’s “Thin Gruel”

The Member of Parliament for the eighteenth century was on fine form today, laying into the PM’s rather modest EU demands.

When Jacob Met Jess

In an unusually watchable piece of television on Channel 4 News last night, Jacob Rees-Mogg gave Labour rising star Jess Phillips a tour around his North East Somerset constituency. Watch out for the part where Philips compares the long-serving Rees-Mogg family nanny to “the dog in Peter Pan”…

Guido feels a wife-swap style reality programme coming on…

BoJo: I am Back

Bow down… but seriously, check out that sexy look from Rees Mogg. Ohhh.

Jacob Rees Mogg Attacks Broadcasters, “Lefty BBC”

Sound…

Friday Caption Contest (Draw Me Like One of Your MPs Edition)

Comments in the comments please…

Via @MatCro

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Quote of the Day

Responding to Corbyn’s statement that the US should have arrested ISIS leader, al-Baghdadi, John Mann bluntly tweeted:

Baghdadi blew himself up with a suicide belt. An arrest might have been slightly difficult in these circumstances.”

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