mainly macro: In defence of George Osborne over Brexit – Simon Wren-Lewis

English: East entrance of HM Treasury Français...

English: East entrance of HM Treasury Français : Entrée Est de HM Treasury (Photo credit: Wikipedia)

This is a recommended read by Simon Wren-Lewis, the respected Oxford economist. Knowing his liberal political leanings, it is significant that he comes to the defence of George Osborne over Brexit.

Source: mainly macro: In defence of George Osborne over Brexi – Simon Wren-Lewis

Of course, there can be different views about presentation, packaging and window-dressing but the Treasury‘s evidence on Brexit is compelling. This, of course, is echoed by the Bank of England.

Britain will remain better off remaining part of the EU.

The Tory machine is gearing up to back Boris Johnson as the next leader – Telegraph

This is an outstanding and insightful article by Peter Obone, the Daily Telegraph’s chief political commentator. It’s a must-read. Check it out!

via The Tory machine is gearing up to back Boris Johnson as the next leader – Telegraph.

Personally, I’m encouraged that the campaign for Boris Johnson to be the next leader of the UK Conservative Party is gaining speed. I don’t rate Theresa May. I think that Michael Gove is a good candidate but maintain that Boris Johnson would be much better as a leader – he also has a wider popularity.

I have always struggled with George Osborne. He has tended to favor political dogma rather than economic argument – he has no formal economic training. The Peter Obone article is revealing in that Osborne spends very little time at the Treasury and more on political strategy at 10 Downing Street. It worries me deeply that the economic management of the UK is delegated to Rupert Harrison, a special advisor. Whilst I accept that Harrison is a very bright and capable economist, he has not been elected, nor is he part of the official public sector.

The economy has been pumped up effectively, ahead of the election. But we are told that beyond, there will be further savage cuts to the public sector or major tax rises. Worryingly, there has been little attention to exports and improving skills of the UK workforce. Of course, the budget cuts to the public sector have slashed public services, including defense. The public health service is still hemorrhaging, despite increased funding.

Here’s an open question:

Conservative Party (UK)

Conservative Party (UK) (Photo credit: Wikipedia)

Surely, a UK minister should be giving his full-time attention to his ministerial job?

Thoughts?