The Salisbury Convention

Following on from my previous piece, a friend has advised me that the Lords are constitutionally incapable of rejecting a manifesto commitment. As indeed they are, under the so-called Salisbury Convention. (Goodness knows why the government should object to the Lords rejecting a bill when they themselves think they should be able, without problem, not… Read more

Only the Lords can now save us

From the collapse in the rule of law achieved by the Conservative’s United Kingdom Internal Market Bill… The Lords are our last hope. Very simply, relevant clauses “have effect notwithstanding any relevant international or domestic law with which they may be incompatible or inconsistent”. Whilst there is doubt I suggest, whether this in itself is… Read more

Proposals for a Scottish National Pension & Investment Fund (NPIF) – A guest post by Jim Osborne

As the coronavirus pandemic continues to crush economies around the world we are currently witnessing a boom in the financial sector and continuing inflation of asset values. This is a clear indication that at some point in the past a tipping point was reached and the real economy and the financial sector separated into two… Read more

Payments need to go ‘bankless’

I’ve seen it suggested that if bank payments are called ‘cashless’, then cash payments should be called ‘bankless’. We need more of this – there is no reason why we have to give banks more power than they have already. The banks, of course do all they can to influence government and with Chancellor Sunak… Read more

The French are doing it so much better…

My piece yesterday bemoaned the arbitrary end of furlough and the complete lack of any clear-sighted direction for the economy. Indeed I now understand that the government’s ill thought out ‘kickstart’ scheme is in fact available only to those able to offer a minimum of 30 placements. No wonder Tesco is in favour and this… Read more

David Graeber RIP

I think I should flag up the untimely death of David Graeber, anthropology professor at the LSE and point to the obituary by his friend, Steve Keen here. David Graeber certainly helped me to understand money and especially debt, so I’m grateful to him and very sad for his untimely death at the age of… Read more