This Doesn't Scan Well...

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God, there's a lot in the news and journals today, never mind the dear old queen's protracted funeral proceedings [I'm not a churl, and will not make political comment - later, maybe]. Kwarteng-Under-Truss are to press ahead with their tax-cutting strategy to address the 'lack of economic growth', despite the fact that it will not even touch the sides for the vast majority of the UK's population. Likewise, the reversal of the NI rate of contribution. The fundamental thing about the Tories is that they always accuse the Labour Party of fiscal irresponsibility: tax and spend, etc. So what does every Tory government of the modern era do? Cut taxes and borrow to fund public spending. I'm sorry, but am I missing a nicety here? Do as I say, etc. springs to mind with these people.

I notice that Rupert Soames has retired as head of outsourcing gravy-train Serco, having 'turned around' the waste of space company from the brink of a well-deserved demise, having taken the helm in 2013. He admittedly managed to increase the share price - briefly - to three quid in the first year or so, but on retiring from his £850,000/annum post (his combined 2020 package was nearly £5M), he's left the current price at about £1.75. Sparkling? Depends on your perspective. This 'turnaround' he achieved by, to quote Mark Wembridge in the FT today, '...[narrowing] Serco's focus to government contracts...', including the travesty of the UK's Covid-19 track and trace programme. The old boy network never fails when it comes to earning a few bob, does it? Old Etonians only need apply...

I haven't even touched on energy prices and the convolutions of markets, real(?) and virtual - crypto's current convulsions are another thing altogether - but I will sign off with a brave (considering the current situation) little nugget from The Guardian I've just received on the phone, relaying the news that up to 100 Clarence House staff have been given the boot during the thanksgiving service for the late monarch. We're all expected to show sympathy and respect, but it seems that it's business as usual with the Firm...

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