Matthew Lynn

Sterling plunges on the currency markets. Middle Eastern oil money flees London. A prime minister resigns in mysterious circumstances, and a government clings on to a vanishing majority. Sound familiar? In fact, it is a description of the run-up to the sterling crisis of 1976, which forced the then Labour government to crawl to the

Friday morning. A humbled looking Theresa May is muttering about how ‘defeat means defeat’, while Boris Johnson readies his leadership bid. Nicola Sturgeon is flying down to London with a list of demands for supporting a Labour-led coalition. And Jeremy Corbyn is finishing off some work on his allotment before hopping on a bus to

Inflation is rising. Real wages are stagnant, and GDP is being revised downwards, putting us down there with the likes of Italy. If Theresa May had a script for the final fortnight of the election campaign it probably didn’t include figures like those. Today’s revision of the quarterly GDP number, down to a sluggish-looking 0.2

Unemployment is down. Retail sales are still strong. House prices are stable. Even the Great British Peso, the currency formerly known as the pound, has recovered much of its losses of the past year. After the vote to leave the EU, the UK economy has been remarkably strong. Even triggering Article 50, which some said

Another day, another tax rise. So far in this campaign, the Labour party has rolled out one hit or another on the wealthy and big business just about every morning. The City is getting a Robin Hood tax on every financial transaction. Companies are getting a one-third increase in corporation tax. Anyone on more than

Big hikes in corporation tax. A sweeping programme of nationalisation. Large increases in the minimum wages, a 20-1 cap on executive pay, and, just in case it gets lost in that blizzard of promises, hefty tax increases on anyone earning more than £80,000 a year. Even in a normal year, the leaked Labour party manifesto has

Better access to education. Tax cuts for anyone in the struggling middle. More affordable homes, and more money for the National Heath Service. There is nothing wrong with Theresa May seeking to stake out the centre ground of British politics and stop Brexit turning into a right-wing campaign to turn back the clock. But one

Thirty billion? Fifty billion? Eighty billion, and we have to cover the cost of Jean-Claude Juncker’s martinis for the next decades, plus pick up the dry cleaning for every member of the European Parliament. The debate over Britain’s final exit bill for leaving the EU looks set to be among the most acrimonious issues as

Its economy will be destroyed by leaving the single market. Losing access to European sales will destroy swathes of industry, and without free movement, employers will be crucified by skill shortages. Nicola Sturgeon is no doubt already preparing her lines for a vote on Scottish independence once the UK leaves the EU. Right now, that

It is possible that Mark Carney is not quite the last person to notice that the post-Brexit economy is positively booming. Jean-Claude Junker might be too busy working out new ways to ‘punish’ Britain to have paid attention to the statistics. Gina Miller is possibly working on some bizarre High Court action to keep us

Unemployment is crucifyingly high. Factories have lost competitiveness. The share of euro-zone exports is in relentless decline. Industrial production is still lower than it was in 2008. The euro might have been a French idea – but France has turned into one of its main victims. The National Front Leader Marine Le Pen is certainly right

Industry will shrivel. Exports will dry up. The few remaining steel works will be closed down. And rugby will be banned. Okay, I made that last one up. But in a report today, the leaders of Welsh Labour and Plaid Cymru have laid out the case for keeping the principality in the single market –

Business cards. Check. Contacts book. Check. Stylish ski jacket. Check. If it is mid-January, the global elite, and certainly anyone who aspires to membership of that slightly nebulous group, will be packing their bags and flying, preferably by private jet, to the chic Swiss ski resort of Davos. Over the course of a few days,

As confessions go, it was hardly the most revelatory. Cheryl Fernandez-Versini admits she has problems with relationships. Sir Philip Green accepts he made a bit of a hash of BHS. Ed Miliband owns up to struggling with bacon sandwiches. They would have all come as more of a surprise than the chief economist of the

At the Westfield shopping centre in east London, the queues started at 2 a.m. on Christmas night. In Wrexham, people started lining up at three, getting ready for a six o’clock start. In Edinburgh, hardy shoppers braved flurries of morning snow to make sure they were first in line for Boxing Day bargains. Whatever else is

At the Westfield shopping centre in east London, the queues started at 2 a.m. on Christmas night. In Wrexham, people started lining up at three, getting ready for a six o’clock start. In Edinburgh, hardy shoppers braved flurries of morning snow to make sure they were first in line for Boxing Day bargains. Whatever else is

The Scottish economy will be left in ruins. Tens of thousands of people will be thrown out of their jobs. The tax base will shrivel. To listen to the latest round of complaints from the Scottish National Party, membership of the single market is absolutely vital to the country’s economy. Indeed, it is so important

We were about to see parity with the dollar. It was fetching less than an euro at the airport. Spiralling costs were about to wipe out what little remained of our manufacturing industry, and the RXS’s – that’s the racist, xenophobic scum, in case you were wondering – were all about to lose their jobs.