Please find below my GB News interview with Jacob Rees Mogg where we discuss the International Monetary Fund’s inaccurate economic forecasts, the Bank of England’s policies and expanding capacity.
My Interview is between 6:43-13:26
32 Comments
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May 24, 2023
Viewed live and enjoyed.
May 24, 2023
An excellent interview – just a pity it wasn’t longer. You should be a regular guest on GB News. But my question is this: Do you have *any* influence over the government? Do you ever get to talk to ministers? If so you really must get them to look again at their policy – or rather *lack* of policy – on supporting UK industries. Here is an absolutely appalling story in the Financial Times today: https://www.ft.com/content/03e2e207-3245-4b2d-92b9-340ba1a468f6
Here we have a BRITISH company, born out of a BRITISH university, with literally the BEST technology in the world, and yet they are planning to move abroad to list and to manufacture their products. Why? Because while the US and the EU are offering huge financial incentives to companies, the UK – led by the fools and traitors Sunak and Hunt – is refusing to do the same. So we lose while the rest of the world steals our businesses and our wealth. And the final irony is that this is a company producing photovoltaic solar cells, exactly the sort of ‘green’ technology and product that the government claims to support! indeed, the government wants a fivefold increase in solar power production by 2035 – but it will all be done with IMPORTED solar panels rather than UK-made ones, directly as a result of their refusal to offer this BRITISH company the same level of support as it can get from FOREIGN governments!!!
Reply Yes I meet Ministers as part of my job at Westminster.
May 24, 2023
Reply to reply. Well you might wish to point out to them how Ireland treats its new businesses then.
May 24, 2023
Reply to Sir John: I’m delighted to hear it, but in which case I *implore* you to take up the case of Oxford PV. With the world moving towards renewable energy, and with this company having the most efficient – and therefore desirable – solar cells in the world, this could become a major company, and hugely valuable not just in itself but to the UK as a whole. We mustn’t let this opportunity slip away. What the hell is the point of the UK being ‘a science and technology superpower’ if we don’t then commercialise and capitalise on the discoveries?! I hope you agree.
May 25, 2023
High efficiency solar cells have their place. Most obviously for satellites, where minimising launch weight is a major cost consideration. But in earthbound applications they only really justify their extra cost in situations where land to site panels is at a premium. In just the same way, one and two axis tracking systems that follow the sun across the sky to maintain optimum orientation to maximise output are often too costly to be justified. Tracking systems require a lot more space to avoid mutual shading of panels in addition to the costs of the mechanism.
May 24, 2023
If you have a successful company of course you will leave the UK and move to the EU or the US, because they offer much bigger markets. Seriously, it’s seven years now, and you still don’t understand what Brexit means?
May 25, 2023
You forgot Asia, a region now accessible via a trade deal negotiated because of Brexit. The EU global market share shrinks year on year.
May 25, 2023
You need to look at some positive twitter accounts that post about manufacturing and engineering in the UK. Tata to build a multi-bn £ battery manufacturing plant in the UK. Look up the MTIA Awards. Global Britain.
May 24, 2023
The Consumer Prices Index (CPI) rose by 8.7% in the 12 months to April 2023, down from 10.1% in March or to put it another way your £, saving and thus pay is now worth circa 91p compared to what it was 12 months ago. Far worse still for the poor who spend rather a lot on energy, food, rent, transport… oh and on top of that your taxes are going up hugely too and you personal allowances & tax thresholds are devalued by 8.7% and your mortgage interest has doubled. Plus your wages are often reduced by open door low pay immigration. Plus you have to buy and EV, extra insulation and a heat pumps say – £80k for both. Good luck!
Great job Hunt, Sunak & the BoE money printer & currency debasers!
May 24, 2023
Stupid to QE in 2020 and 2021 to chuck cash away. Loans could have been made to those needing temporary help in the faux pandemic and reined back in i.e. repaid now.
May 25, 2023
Stupid to lockdown the UK for an unremarkable seasonal flu virus, but still allow foreign visitors in.
May 24, 2023
Energy, rent and transport are difficult to do something about although you could move and rent a cheaper property in a lower cost area, i.e. in London Lewisham, or out more to the outskirts like Dartford. You can still rent affordable homes near Manchester, i.e. a 3-bed semi in Denton for £895, 2 beds for £750. Burnage, or Middleton 2 bed £700pcm.
You can use public transport to save money but only if you have hours to spare and the patience to wait or leave half an hour earlier than you need to!
Food, you can definitely do something about it. You can write your shopping list, and take a moment to really consider what you need to buy; there are price comparison sites on the internet that compares prices from all the main stores nearby to check how much it should cost, if it’s more £ on the day you shop try an alternative lower cost brand. Get a club card from your frequent mini-market, whether that’s Co-op, or Tesco or all the others and watch their regular offer timetables. If your brand (especially one of the brands chosen by the ONS) goes way up, try another.
I don’t know why supermarkets don’t do taster tables for their brands and competitive price savers that people may not have heard of. They sort of expect everyone to guess what their cheese or bread tastes like. I persuaded my Mum to try different brands and supermarkets, and she’s a convert now; she is saving money. However, she loves Lurpak; I look out for it when it drops to around £3.75 and tell her she never gets it when it rises to £7.25. A friend told me recently another supermarket does a very similar butter for much less, around £2.20. I will get her some and try it to see if she can tell it’s different.
May 24, 2023
Good stuff as usual JR.
Any comments on the UK and Sunak ref.
Permanent Structured Cooperation (PESCO)
Deepen defence cooperation between EU Member States?
May 24, 2023
Our renewal membership of PESCO confirms we never achieved brexit and never left the EU, and that the Tories are indeed the New Labour
May 24, 2023
John, well said.
May 24, 2023
I have a feeling you’ll be proven wrong that tightening has been carried out more than necessary. We should now be at 5.5 % rates and threatened to top out at 6-7%
May 24, 2023
One is forced to ask, why the Government is not listening to the views of two very experienced Politicians with vast experience, and certainly to JR with his huge financial and international Banking experience, and taking advantage of such knowledge for the Country’s own good.
Were they fearful they will be shown up as economic and financial dummies, something that is now clear to all with the policies that have been followed.
May 24, 2023
+1
May 24, 2023
Tata Jaguar to build new battery site in the UK ….with £500 million in UK taxpayer subsidy
May 24, 2023
The UK is not really a competitive place to have an EV battery manufacturer. Indeed not really competitive for very much.
May 25, 2023
It does seem to be competitive for nonsense politics though!
May 24, 2023
highly polluting industries, like battery production and disposal, will inevitably attract comprehensive anti pollution regulations in the UK in very short time. no amount of government subsidy will stop that making it too expensive to comply with such regulations to operate such plants here, when the big companies can simply move production to countries far less fussy about pollution, and from where we will import their output. so a complete waste of government money.
we need to figure out how we plan to make money in the world, our leaders have made clear that manufacturing is not one of those ways, except in the most unique specialist areas. whatever the national money making plan is, its not manufacturing.
May 24, 2023
I want someone from the opposite side of what you and Jacob agree on to see how you respond to it, although sometimes that does end up a slanging match on Mogg’s show when I catch it, he’d be better with a proper debate half hour than trying to cover too many topics. The other night, Starkey and the left-wing guy, for example, JRM, will have to learn to referee better as Dewsbury does.
May 24, 2023
What climate crisis – Global corn, wheat, grain & rice production highest ever !
https://notalotofpeopleknowthat.wordpress.com/2023/05/24/record-world-cereal-outputs-forecast-for-2023-24/
May 24, 2023
+1 a bit warmer and more CO2 are a net positive on average.
May 24, 2023
fed the world ….don’t tax and control it
May 24, 2023
So Jacob concludes “the lesson is don’t listen to the IMF”. As if we would!
Being modern I am not at all sexist of course and therefore feel not only no constraint but rather that it is appropriate to mention that you are dressed very smartly with excellent choice of colouring. I have already consulted my therapist about obtaining a similar suit for myself.
May 25, 2023
Disagree. Light coloured suit and shiny tie screams 90s.
Dark jacket and t Shirt better.
Sit on your hands.
May 25, 2023
Watched it at the time.
Unfortunately, the Not-a-Conservative-Government ignores the advice and opinions of the likes of Redwood and Rees-Mogg. They’re Conservatives, and Brexiteers.
They are completely sidelined and have no place in the Remainer dominated Not-a-Conservative-Party – but don’t seem to realise it yet.
May 25, 2023
I heard Sir Edward Leigh in Parliament
Of course, we want workers born and bred in Britain to pick our fruit AND to earn a decent wage etc ..
But there is not pragmatism in what he says. It’s all IDEALISM.
The guy is a DECENT guy (I don’t deny that – a nice chap and all) but he’s got NO business, practical experience etc .. And so he’s an idealist (at least on this topic and others in Parliament). Indulging in idealism about some very important topics.
Similar to Bill Cash
May 26, 2023
My point is Sir Edward is just an arm-chair critique. He exposes a problem and suggests how wonderful it would be to reach a particular wonderful goal but with no detailed and workable plan of how to get there ..
Like a poor student who says it’s not great being poor and how wonderful it would be to have lots of money (and to have for good reasons – not bad ones) … but without a plan, the leadership nor the finances to get there.
It’s all pipe-dream stuff except he’s an influential, elected member of Parliament.
May 25, 2023
WHY IS IMMIGRATION OF NON-EU CITIZENS ROCKETING IN THE LAST FEW YEARS UNDER THE TORIES AND IMMIGRATION IN GENERAL?
(And whilst our economy staggers)
And to what degree does this have to do with Brexit? I don’t know. But I’m going to do some research to try and find out. This is serious stuff.