Ross Clark

Well, good luck, Rishi. You’ll need it – and not just because, as backbench Tory MP Sir Christopher Chope put it this morning, the Conservative party has become ‘ungovernable’. The whole job of prime minister has become impossible. There are too many demands on the person who holds that position, and too much blame placed on them when people’s lives fail to live up to expectation. Liz Truss made a huge error in announcing a huge £100 billion welfare programme (the energy price guarantee) in conjunction with £45 billion of tax cuts, all uncosted. But would her premiership have proved much more successful had she been a bit more careful with her fiscal policy? Hardly.

Here’s a little mystery: whatever happened to that nice, sensible foursome whom all week we were led to believe were ready to seize the reins of power from Liz Truss: Rishi Sunak, Jeremy Hunt, Penny Mordaunt and Ben Wallace? If Truss resigned, we were told, the Tory party would behave in the same grown-up fashion that it did when it elected Michael Howard as leader unopposed in 2003. Yet come Truss’s resignation the fab four was nowhere to be seen. Instead, Penny Mordaunt quickly made it plain that she didn’t want to play second fiddle to Sunak and believed that she could run in her own right. There are two possible explanations for this. Firstly, that Mordaunt’s personal ambition is stronger than her desire to establish Conservative party unity.

Markets, we are told, are rebelling against the government’s irresponsible fiscal policy, not least the now-abandoned plan to abolish the 45p tax rate. If that is what they are doing, it marks a sharp change in their behaviour. For most of the past decade they have whooped with delight whenever a fantastically expensive stimulus package has been announced and gone into a sulk whenever there have been rumours that the punch bowl is about to be withdrawn. In this Alice in Wonderland world, good news became bad and bad news became good. Why? Because bad news means greater likelihood of a stimulus package; good news means stimulus is likely to be withdrawn.

When you have defined yourself against the nanny state and scorned the idea of limiting supermarket ‘two for one’ offers, it is only natural that you will go on to reject the case for a £15 million public information campaign to try to persuade people to take fewer baths and turn their thermostats down. The Prime Minister has rejected such a campaign in spite of it being backed by her business secretary, Jacob Rees Mogg – putting Rees Mogg in the unlikely position of the nation’s nanny-in-chief. These kind of campaigns have a bit of a poor history, as anyone who remembers the 1976 drought will recall.

Will the lights go out this winter? A letter from the energy regulator Ofgem reveals just how seriously it is taking the prospect, and lays out what would happen if the UK can't get sufficient gas to meet demand. Ofgem declared that ‘here is a possibility that GB entering into a gas supply emergency’ this winter and lays out what would happen in the event of this happening i.e. when insufficient gas is available to supply the gas network at any wholesale price. It turns out that Ofgem would seek to reduce demand by telling the largest gas users to switch off their plant. These, it adds, ‘will likely be large gas-fired power stations’.

Is nationalisation the vote-winner which Keir Starmer believes it to be? We will find out in due course, but my hunch is that the British public as a whole care a lot less about who owns the train carriages they ride in and the power stations which generate their electricity than Labour MPs do.  No one who remembers British Rail will be under any illusions that public ownership is a panacea What they care about rather more, surely, is whether their trains arrive on time and whether their lights stay on. No one who remembers British Rail will be under any illusions that public ownership is a panacea for a functioning railway, and neither will anyone who remembers the three-day week be fooled into thinking a public-owned power industry guarantees keeping the lights on.

In this week of mourning, much of the news which would normally get covered has sunk without trace. Even so, this morning’s news of a drop in unemployment has managed to catch the eye. The unemployment rate has fallen by 0.2 to 3.6 per cent – below where it was at the beginning of the pandemic and at its lowest level for 48 years. This, at a time when economic growth is more of less static and the bank of England is warning us to expect a severe recession next year, is extraordinary. I only wish that the official unemployment figure could be trusted.

Liz Truss’s ministers had not even got their feet beneath the cabinet table before they were treated to a barrage of objections to their appointments. Talk about playing the man rather than the ball. No sooner had Jacob Rees-Mogg been appointed business secretary than Caroline Lucas was declaring him unfit for the position because he has previously expressed sceptical views on climate change. She didn’t even wait to learn that Rees-Mogg will not, in contrast to his predecessor Kwasi Kwarteng, also hold the climate brief, which has gone to Graham Stuart.