This is a lot of ‘fun’🙈 — which is to say, genius illumination of fiscal drag effects. Dragging stealth tax out of the shadows, into the light.
New: 'Shark's fin' chart reveals the uneven impact of 'fiscal drag', the stealth tax beloved of recent chancellors. Plus use our interactive calculator to see how fresh freezes announced by Rachel Reeves at todays Budget could affect you on.ft.com/3KqOYUL
Lords Heseltine & Kinnock seem more alive to these self-evident truths than most members of the Commons. Similarly, I find thinkers with direct lived experience of far right dictatorship, Greeks of a certain age for example, crystal clear about what’s happening now.
Brutal BBC piece on how fast Switzerland’s glaciers are melting.
Drill baby drill. 🎶🎵
www.bbc.co.uk/news/article...
AI pushers talk about it "augmenting" capacity, but that ignores human nature. Why walk or bike, when you can drive? It's easier, so most of us do, but you get fat & lazy. AI will do the same to a lot of people's brains, I fear. Via @financialtimes.com piece on AI habits
ig.ft.com/ai-personal-...
Resolution has applied my model to data up to 2025. As the chart shows, we can be less confident as time goes on. But firm-level evidence from Bloom et al shows a 6% loss. I think it's time to retire the OBR's 4%, which was a simple average of pre-Brexit forecasts.
Peter Foster
Alan Smith
New: 'Shark's fin' chart reveals the uneven impact of 'fiscal drag', the stealth tax beloved of recent chancellors. Plus use our interactive calculator to see how fresh freezes announced by Rachel Reeves at todays Budget could affect you on.ft.com/3KqOYUL
Peter Foster
Living. Working. Paying taxes. Contributing. This is a desperately poor editorial.
James O’Brien
Peter Foster
Magnificent peroration to Simon Schama’s @financialtimes.com weekend essay on defending freedom of speech in the era of Trump - with help from Milton, Jefferson et al.
on.ft.com/4gSqvDw Simon Schama: What America’s Founders can teach Trump about liberty
Alan Smith
WTO clings to signs Donald Trump still needs it — sometimes—While the US President’s unilateral tariffs have ridden roughshod over the WTO’s core principle of reciprocity in trade, diplomats argue… www.ft.com/content/15a9... @pmdfoster.bsky.social @financialtimes.com
Peter Foster
John Springford
Peter Foster
US takes ‘à la carte’ approach to global trade body, suggesting it has not completely turned its back on rules-based order
