Rampant unions will embed high inflation

So farewell, Transpennine Express, the northern rail operator whose hapless management were no match for the Aslef union that was determined to see this underperforming franchise renationalised. TPE’s drivers, beneficiaries of the super-luxury conditions I recited last month, have effectively invented a new form of moral hazard: have no fear of crippling your employer with outrageous demands and relentless non-cooperation, because if it goes down, the government will step in and re-employ you on the same terms or better.

Aslef has more strikes planned nationally for 31 May and 3 June, and the other rail union RMT – having done its best to disrupt travel to Eurovision in Liverpool – says it may join in on the second date, which happens to be FA Cup final day. Royal College of Nursing members have voted to hold out for a double-digit pay rise, despite their own leader recommending a lower offer, and junior doctors are still chuntering too.