There is little point in providing any extensive commentary on what was happening in yesterday's elections as yet. There are far too many polls still to be counted as yet. That said, some things stand out. The Tories have lost almost half of all the seats that they were defending. The swing against them in the Blackpool South by-election was the third biggest since WW2. Labour has generally done well. The Greens have done very well. LibDems are unlikely to take much comfort from results, so far. Reform has failed so far, including in places like Lincolnshire, where they might have had hopes. T ..read more

I wrote about the SNP leadership election in my column in The National yesterday. I was not endorsing any candidate. I certainly do not think that is within my remit. I did, however, express concern about some of them. John Swinney and Kate Forbes were my particular focus of concern, as former finance ministers for Scotland. As I put it: To see John Swinney and Kate Forbes emerge as the front runners in the current SNP leadership race was troubling (though Forbes has now said she will not run). To describe their similar approaches to economics as conventional is to be kind. Their experience h ..read more

I posted this video on YouTube this morning, touching on a theme that might well recur here many times: The link is here in case it is needed. The transcript is as follows: We need the water companies of England to be nationalised. I stress I'm talking about England because Scotland and Wales have already got nationalised services for water, at least with regard to private consumers - households that is. England has not. Almost uniquely in the world - not quite uniquely, but almost uniquely - we supply water through private companies and we know that isn't working. We don't get the clean wate ..read more

I often wonder when it will be that climate change will create pivot points that have sufficiently deep social and economic consequences that politicians will finally be required to take note, and pursue serious action. Curiously, the collapse of Humza Yousaf’s  government in Scotland is an early indication that failure to properly manage issues relating to climate change targets will have political consequences. His departure from office is the result of his failure to manage this issue. I do not, however, think that sufficient warning to create a widespread reaction, as yet. There are ..read more

As the Guardian notes this morning: The UK’s economic outlook has worsened this year as high interest rates and the lingering effects of last year’s surge in inflation take a bigger toll on growth than previously expected, according to the Organisation for Economic Cooperation and Development (OECD). It added: In a downbeat assessment of the potential for the economy to expand in 2024, the Paris-based thinktank downgraded its forecast for UK growth this year from last November’s forecast of 0.7% to 0.4%. It predicts a modest bounce back in 2025 with growth of 1% – a rate of growth half that ..read more

One of the greatest source of disquiets about the NHS is not that there are long hospital waiting lists - although no-one is overly chuffed by that - but that people cannot get to see their GP. The idea being put around by politicians is that there is a shortage of GPs in the UK. The claim is being made that this requires that we train assistant practitioners - who are not, by a very long way, comprehensively medically trained - to take the place of the GPs we cannot get. But this is not true. As the GP Online news service from the British Medical Association reported last month: The BMA has ..read more

There are elections in 107 local authorities across England today, as well as 11 mayoral races. A by-election will elect a new Blackpool South MP, following the resignation of former Conservative, Scott Benton. And voters across England and Wales will elect 37 police and crime commissioners (PCCs). There are no elections in Scotland or Northern Ireland. If you do have the chance to vote today, please do. This is a massively important election for shaping the general election to come. And remember to take relevant ID or you will be turned away, however ridiculous that is given there is ..read more

I received a copy of an email this morning saying: This is a link to Richard Murphy’s video on inflation… It's excellent, as usual, but…does RJM only have one shirt? The same one or an indistinguishable facsimile thereof appears in every video! For the record, I have about five near-identical shirts that I almost always wear, except in high summer. I always replace a worn-out one with one of similar design because I am really not a man with great sartorial interest. So, it's not the same shirt in every video, I can assure you. What is more, if you really want to be amused, you can spend some ..read more

It is, of course, May Day. Or Workers Day. And so, the FT reports this morning that: Sir Keir Starmer’s Labour party is set to unveil a weakened package of workers’ rights in the coming weeks in its latest softening of radical policies ahead of the upcoming general election, the Financial Times has learnt. They added: The package, first outlined in 2021, has been billed by Starmer as the biggest increase in workers’ rights for decades, with the Labour leader warning business chiefs in February it would “not please everyone in the room”. But behind the scenes shadow ministers have been discu ..read more

I posted this video on YouTube this morning: In case the link does not work, you can watch the video here. This is the transcript: Inflation always goes away. Now, that's an extraordinary claim to make, but I can show you it. This chart, produced by an American central bank called the St. Louis Fed - which always produces amazing economic statistics for those who want to look at such things - is actually a reproduction of research undertaken by the Bank of England, which shows the inflation figures in the UK since before 1200. I don't mean before midday. I mean literally from 1200, 800 years ..read more