The UK governing establishment can be both wrong and nasty to anyone who dares to suggest a different way of thinking. I seek to change their approach to inflation, growth, energy and public sector management. In order to do so I have to argue within narrow parameters they lay down, as they seek to condemn or ignore anyone who disputes their consensus follies.
They say the Bank of England is independent and that is essential to control inflation. The Bank’s policy since 2008 has been dominated by buying up £895 bn bonds at increasingly absurd prices, all needing the sign off by the Chancellor. They then in 2022 switched to selling them off at big losses. They needed a Treasury guarantee to pay the losses. The Bank is on taxpayer life support needing more than £10 bn a year subsidy. The government appoints the Governor and the Bank has to report directly to Parliament as well. That’s not a definition of independence. Meanwhile inflation has been well above the 2% target for more than five years but no-one is meant to blame the Bank.
They say UK growth will come from higher public sector investment in infrastructure and utilities with more nationalisation and regulation needed. They ignore the disasters of HS 2 and Post Office computer investment and suppress the records of the loss making employee sacking polluting nationalised industries of the 1970s.They overtax the private sector leading to an exodus of talent and money that could generate faster growth.
They make the UK race to net zero, forcing our energy prices up and closing down our oil,gas and high energy using industries through high taxes and bans. This forces us to rely on imports and increases world CO 2 as a result. It is the worst form of economic self harm adding to the carbon problem it says it wants to solve.
They preside over a public sector in denial about poor productivity and poor quality of service in many areas. Why have there been so many hospital avoidable deaths and hospital transmitted infections? Why did the Post Office send many good staff to prison on false charges? Why does the railway have so many cancelled and delayed services? Why are the roads riddled with potholes presided over by Councils out to make life difficult for van and car drivers? They always blame lack of money and hide behind cuts. Instead in recent years there has been a surge in public spending, borrowing and taxing which they deny. Where does all that money go?
In each case trying to hold a public debate requires care in what can be said as the main response of the Establishment is to attack the critic whilst perpetuating the common lie they hide behind. Question net zero strategy and you are a “ climate denier” who is causing droughts and floods. Question Bank independence and you are regarded as an ill informed danger undermining economic stability. Question public sector mismanagement and you are said to be covering up spending cuts and wanting to privatise.
November 2, 2026
The “establishment”? The Conservative party has run this country for most of the last 16 years, I’d say their disastrous decisions on economic management, most of all their ruinous Brexit, are to blame for our plight