Lewis Goodall was the worst. He said:
“But in fairness to Burnham, that isn’t Burnham’s fault… that is a reflection of weakness of the UK economy, the Liz Truss legacy, which so many of these people supported, including I’m sure the now Shadow Chancellor… Some of the hypocrisy in elements of the press who now interview Liz Truss as if she’s some sort of great guru, some economic hero, while at the same time wishing to create an equivalence with Burnham and Labour over what’s going on with the debt crisis – the sort of thing we saw with Liz Truss – is comic.
Let’s look at the facts. Japan’s 10-year yield has reached 3% for the first time since 1996. Germany, long known as a safe haven in European debt, has reached its highest borrowing level since 2011, at the height of the Greek crisis. US 10-year yields, as Emily said, are now nearly 5%, a 19-year high. Ours are at their highest since 2008. And yes, there are specific historic British reasons for that, about the weakness of our economy, including, as the Prime Minister said, Brexit, which has lowered our productivity and made us less able to weather financial storms. But let’s be clear. Tokyo, Berlin and Washington are not having problems with their borrowing costs because of Andy Burnham.”
New research published by economists at Bloomberg found that investor concerns about Labour’s fiscal plans are amplifying the impact of the global bond selloff on gilts. Burnham declined to rule out tax rises or further borrowing, while insisting this is a government “grounded in fiscal responsibility” that “will stick to the fiscal rules”…
UK yields are significantly higher. Traders are pricing in additional anxiety over Burnham’s plans and the upcoming Budget. Economists estimate Healey has lost about half of the £23.6 billion buffer he inherited from Reeves. The OBR is cementing its pre-Budget calculations now…
Lewis Goodall has spoken out after providing some radical tax ideas on LBC yesterday. The presenter – always thirsty for robust debate – was aghast at the “strength of feeling” with regard to his proposal to tax inheritances at 98-100%. Guido is glad Goodall is feeling refreshed after his recent trip to Las Vegas…
Something of which Lewis may not be aware is that among a cocktail of soul-destroying economic policies, even the Soviet Union did not for any extended period levy a 100% inheritance tax. If you’re going to suggest something even more radical on a proudly property-owning nation you should be ready for a robust response…
Goodall complained today:
“Wealth begets wealth and wealth and wealth and more of the economy is dedicated to wealth and the extension of that wealth rather than income and the workers people without wealth cannot catch up. It’s perfectly fine if you have a different point of view and I can understand that. What I cannot understand I must say is the I would say certainly the invective and the strength of feeling.”
Something for Lewis to discuss in great detail with fellow presenter Jon Sopel on the next News Agents podcast episode. Goodall’s co-hosts might not be inclined to agree…
The New Statesman editor’s role is a plum prize for ambitious, savvy, and of course, “progressive and liberal” hacks. After 16 years at the helm, Jason Cowley announced he’ll step down this month, remaining with the paper as a columnist and essayist. As promised, Guido gives you a list of the runners and riders:
Notably, none of these runners and riders is currently in-house, and all under the age of 42. A youthful lineup for injecting some energy into the New Statesman’s 111-year-old veins…
Robert Jenrick on the Today programme:
“Can you now give a guarantee to your listeners this morning that no BBC presenter in the future will be exposed as a paedophile, as a number have been in the recent past? No, of course you can’t…”