John Redwood Many western countries have been living well beyond their means for several years. The US and the UK have been spending 10% of National Income more than they earn on public spending. Most now agree we cannot carry on like this. The substantial overspend in the public sector follows hard on the heels  [ Read More ]

John Redwood The UK has no need to fear Germany. The UK has no need to be impolite to Germany. The UK should resist the temptation to lecture Germany on how to lead the Euro zone. There are unwelcome signs that the UK/EU relationship is becoming strained. The Coalition government seems nervous about the impact  [ Read More ]

John Redwood I have found there are are least 87 examples of countries leaving currency unions and establishing their own money since 1945. In most cases establishing an independent currency allowed the country concerned to set more sensible interest rates and exchange rate to help them grow. In every case it gave them more independence,  [ Read More ]

John Redwood Don’t expect the euphoria over a new Italian government to last long. There is no need to share it. The markets enjoyed a relief rally on news of a new government forming in Italy. The European establishment is behind Mr Monti, so we should expect the ECB and the spin machine to try  [ Read More ]

John Redwood Some say it is democracy – but not as we know it. It is true the Euro is a great device for bringing down EU member states governments. Recent victims include Ireland and Portugal, with the Greek government hanging by a thread. Electors can still change the people who are in a government,  [ Read More ]

John Redwood The John Humphrys BBC welfare documentary last Thursday night was well made. It reminded us how Beveridge wished to slay the five dragons that included the dragon of Idleness. It told us that the public overwhelmingly wants a safety net so no-one need be homeless or short of food. Voters do not want  [ Read More ]

John Redwood The Bank of England and some commentators seem to think the higher rate of inflation we now have was a necessary side effect of action to boost the growth rate. They do not apologise for almost two years of inflation above the 2% target, or for the very high level of 5.2%/5.6% (CPI/RPI)  [ Read More ]

John Redwood Tim Montgomerie on Conservative Home has pointed out that not many party members go to conference any more. The main parties now stage big annual events for the corporate guests, lobbyists and media. They provide a platform for Ministers and Shadow Ministers to make their announcements. Leaders heave a sigh of relief if  [ Read More ]