Tim Ferris

1.4K posts

Tim Ferris

Tim Ferris

@mrtimferris

Ancient Briton

terra incessisse Catuvellaunic Katılım Temmuz 2024
315 Takip Edilen92 Takipçiler
Martin Beckford
Martin Beckford@martinbeckford·
NEW: Fresh trouble for Keir Starmer over Mandelson files as Intelligence and Security Committee says too many documents being redacted or withheld - and raises concerns that Govt is formulating policy by WhatsApp isc.independent.gov.uk/wp-content/upl…
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Tim Ferris
Tim Ferris@mrtimferris·
@theobertram It’s not complicated. If I lend the Government £100 when that buys 16 Big Macs, I won’t be happy if £100 only buys 12 Big Macs (because of inflation) when you pay me back. So, if I expect inflation to be high, I’ll want more interest to compensate for the potential loss of value.
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Theo Bertram
Theo Bertram@theobertram·
There are very few Labour MPs who worked in the city. That's typically not their professional or social circle. So the understanding of the people who hold our debt and why they make decisions is not good. But the reverse is also true of city folks understanding Labour MPs.
Simon French@Frencheconomics

The Pound is softer, yields are higher on the Josh Simons/ Burnham news. This is not trying to “constrain democratic choice” this is rational repricing of expectations for more Gilt issuance, and more inflation.

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Smoke 🇬🇧 🇺🇦 🇮🇱
@VintageMrHobbes Sure. But that's why this is news from then and must be dealt with clean. Look at the thread you RT'd, half the details are wrong from the article. It wants you fearful and nothing fixed at all.
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Tim Ferris
Tim Ferris@mrtimferris·
@TomMcTague @arisroussinos It would be asinine for him to claim that a by-election victory in one constituency is any kind of national mandate.
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Tim Ferris
Tim Ferris@mrtimferris·
@jmc_fire @wesstreeting It’s also a ridiculous thing to say given the relative positions of Labour and Reform in Wales and Scotland.
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Tim Ferris
Tim Ferris@mrtimferris·
@WarGit That’s a very competitive CV in this contest
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Paul Keeley
Paul Keeley@drcrouchback·
@DavidDPaxton @yuanyi_z Indeed. Feser is normally someone I’d agree with but his failure as a good Aristotelian to see the arc of actions and consequences is odd. See below what happens when you stop being Jew-hating, gotterdammerung fanatics.
Paul Keeley tweet media
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Tim Ferris
Tim Ferris@mrtimferris·
@john_ritzema Christianity acknowledges a role for government and law apart from the church, does it not?
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Guy Herbert
Guy Herbert@guy_herbert·
@OldRoberts953 @francesweetman Most PMs make money after they leave office giving speeches, or government management advice. I'm not sure either is open to the current incumbent.
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Gareth Roberts
Gareth Roberts@OldRoberts953·
This from Dan Hodges’ latest very interesting; Starmer putting himself before party *and* country.
Gareth Roberts tweet mediaGareth Roberts tweet media
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Tim Ferris retweetledi
Wings Over Scotland
Wings Over Scotland@WingsScotland·
When they comes to write the history of politics across the UK in 2026, this is all they’ll need.
Wings Over Scotland tweet media
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NPRG
NPRG@CptHastings1916·
Starmer refusing to resign until one of the challengers follows the correct procedure for forcing a prime ministerial resignation.
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Tim Ferris
Tim Ferris@mrtimferris·
@emergenteffects PM’s patronage: you can give lots of your mates a pay rise and extra status. Makes them think twice about advocating for Wes or whoever to take over.
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Jardine Matheson Internationalist
Minister for Faith and Communities Minister for Museums, Heritage and Gambling Minister for Building Safety, Fire and Democracy Parliamentary Under-Secretary of State for Sentencing, Youth Justice and International Minister for Local Government and Homelessness Parliamentary Under-Secretary of State for Women's Health and Mental Health Minister for School Standards Minister for Social Security and Disability(under DfE for some reason) Minister for Energy Consumers Do we really need all these?
Jardine Matheson Internationalist@emergenteffects

There are apparently 149 ministerial posts held by 122 people. Of these, 93 currently sit in the House of Commons, meaning just under a quarter of Labour’s MPs are government ministers. Do we really need that many?

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Tim Ferris
Tim Ferris@mrtimferris·
@philmcraig @OldRoberts953 There absolutely are real experts in all sorts of areas, but the idea that political journalists are legit members of an “expert class” is totally absurd. Of course, I can believe they think they are.
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Phil Craig
Phil Craig@philmcraig·
One of the long tail effects of the 2016 referendum was the trauma it inflicted on people who were used to getting their own way. The idea that the unwashed and undereducated could ignore the likes of Dunt, Hutton, Maitlis, Campbell or Guru-Murthy, and then actually beat them, sent many into a psychic tailspin so profound that they stopped being reliable reporters on pretty much anything for years to come. People like them - the 'expert class' if you like - had been ignored by the misled knuckle-draggers and so a series of bad things would now inevitably happen until they could all be returned to positions of power and influence and then there would be calm and quiet once again. And so clever people came to believe dumb things - such as those tendentious 'doppelganger' economic audits on Brexit, even as the actual, measurable, real-world GDP figures were pretty decent (by the EU's normal sclerotic standards anyway). Jolyon and his risible ‘There is an England of my Mind’ crusade to stop the independent UK vaccine task force - even in the face of evidence that its EU equivalent would be a bust - is another perfect example of this. His mind wasn't really on Covid it was on the humiliation of 2016 and how unjust, unfair and cosmically out of balance everything in public life now felt to him. But most importantly of all, this mindset explains the astonishing lack of media scrutiny of Starmer and his party in the 2024 election campaign, and the joyous but so so credulous 'it's nice the quiet' response to his victory amongst the expert class.
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Gareth Roberts
Gareth Roberts@OldRoberts953·
‘This is how serious government behaves … Know-nothings have been replaced by people with expertise. Ignorance has been replaced by specialism. Incomprehension has been replaced by deep domain knowledge.’ Ian Dunt, July 2024
Sam Coates Sky@SamCoatesSky

Wes Streeting tried to see Keir Starmer after cabinet. But Starmer said in Cabinet that he won’t discuss the elections or his leadership, and that he will only speak to cabinet ministers about that individually. Then after the meeting he refused to see Streeting one on one.

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Mark Littlewood
Mark Littlewood@MarkJLittlewood·
Britain has become ungovernable. The Blairite constitutional reforms cemented our status as a quangocracy with a politicised judicial system overseeing it. The next PM will discover this in short order just as the last few have.
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Tim Ferris
Tim Ferris@mrtimferris·
@rowlsmanthorpe @tylercowen @schneierblog The international tax landscape has changed significantly in the last 15 years and many famous loopholes like the specific one mentioned in the article no longer work.
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Tim Ferris
Tim Ferris@mrtimferris·
@rowlsmanthorpe @tylercowen @schneierblog I doubt the claim about tax. The authorities have some very broad anti-avoidance tools, and the courts bend over backwards to interpret statutes so as to disallow “loopholes”.
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Tim Ferris
Tim Ferris@mrtimferris·
@ShipleyWrites Politicians have often chosen not to govern, by outsourcing decisions to the courts and arm’s length bodies, and then pretending they’re powerless to reverse it.
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David Shipley
David Shipley@ShipleyWrites·
The nation isn’t ungovernable. We’ve just had a decade in which politicians, civil servants and the political establishment have sought to ignore and obstruct the clear will of the people.
Simon Hart@Simonhartmp

Watching what’s left of Starmer’s authority turn to dust has horrible similarities to the demise of almost every recent PM, and, given the state of our nation makes the success of future incumbents equally uncertain. Someone should write a book called “Ungovernable” …

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Tim Ferris
Tim Ferris@mrtimferris·
@Ameer_Kotecha They thought that things would automatically go well with The Good People in charge.
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Ameer Kotecha
Ameer Kotecha@Ameer_Kotecha·
Labour had FOURTEEN YEARS to prepare. Starmer himself had FOUR YEARS as leader of the opposition to do so. What on earth was he doing all that time? Did he just assume he would figure it out when he got there? And this is someone who was billed as highly capable, hardworking and conscientious who was focused on the job. I just find it very hard to square it in my head
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Dan Williams
Dan Williams@danwilliamsphil·
Really does feel like these are mostly the sorts of things smart people will converge on 👇
Tom Chivers@TomChivers

I got my Claude to do a UK version. … Fun prompt. Below is my honest swing at it for the UK. Caveat upfront: "fix everything switch" overstates things — these are policies where I think the case is unusually strong and the standard objections look weak relative to the upside, not magic wands. Confidence ratings are about "this would meaningfully improve UK welfare/growth if well-implemented," not "this is politically easy." 1. Radical planning liberalisation (housing + infrastructure) Confidence: Very high. Reasoning: The UK's discretionary planning system is the single biggest unforced error in British policy. It drives the housing crisis, suppresses productivity (workers can't move to high-wage cities), worsens regional inequality, slows clean energy buildout, kneecaps infrastructure, and arguably depresses fertility. Most rich-country peers build more housing per capita. Moving to a zoning/rules-based system with by-right approval, looser greenbelt around stations, street votes, and curtailed judicial review on planning would be transformative. Why not done: Homeowners are an enormous, high-turnout voting bloc whose paper wealth depends on scarcity. Greenbelt is politically sacred. The losses are visible and concentrated (a new block next door); the gains are diffuse and slow. Both main parties have flirted with reform and flinched. 2. Council tax revaluation and property tax reform Confidence: Very high it's needed; high it would be beneficial. Reasoning: Council tax bands are still based on 1991 property values. A flat in Hartlepool can pay more council tax than a mansion in Westminster. This is regressive, distorts the housing market, and starves councils. Revaluing — or better, replacing council tax and stamp duty with a proportional property tax or land value tax — is one of the most-endorsed-by-economists reforms going. Why not done: Revaluation creates visible losers (London/South East homeowners) and quieter winners. Treasury also fears the transition. The Mirrlees Review laid this out in 2011 and basically nothing has happened since. 3. Abolish stamp duty on primary residences Confidence: High. Reasoning: Stamp duty has among the worst deadweight losses of any UK tax — it taxes transactions, so it discourages downsizing, labour mobility, and matching people to suitable homes. The empirical literature on this is unusually unified. Why not done: It raises ~£12bn and is invisible to most voters most of the time. Replacing it (ideally with #2 above) needs political capital nobody wants to spend. 4. Build clean energy and grid infrastructure fast Confidence: High. Reasoning: UK industrial electricity prices are among the highest in the OECD, which is quietly hollowing out manufacturing. Cheap, abundant electricity is the most undervalued input to almost every modern industry. Streamlining onshore wind, solar, nuclear (SMRs and large), and especially grid connections and transmission would compound for decades. Connection queues currently stretch into the 2030s. Why not done: Planning (see #1), Ofgem incentives that historically rewarded keeping grid investment low, judicial review, NIMBYism around pylons, and a regulatory culture that treats new build as risky and the status quo as safe. 5. Devolve real fiscal and policy power to cities and regions Confidence: High. Reasoning: The UK is one of the most fiscally centralised democracies in the OECD. Manchester, Birmingham, Leeds, Glasgow are dramatically underpowered relative to peers like Munich or Lyon. Mayors with proper tax-raising power, transport authority, and skills budgets would let cities tailor solutions and compete. Most evidence on agglomeration economics suggests this matters a lot. Why not done: The Treasury genuinely hates losing control of money; this is a deep institutional preference that survives changes of government. Westminster MPs don't like rival power centres either. 6. A genuinely competitive high-skilled immigration regime Confidence: Medium-high. Reasoning: Top-talent immigration is close to a free lunch for receiving countries — fiscally positive, innovation-boosting, and concentrated in tradeable sectors. The UK has the language and the universities; it's leaving money on the table with slow visas, high fees (the NHS surcharge plus visa costs for a family is brutal), and a Global Talent visa that's narrower than it looks. Why not done: Immigration politics is toxic and the public doesn't reliably distinguish high- from low-skilled flows. Total numbers have been high recently, which makes it hard to argue for more of any category even when the composition matters more than the total. 7. Childcare cost reform Confidence: Medium-high. Reasoning: The UK has among the highest childcare costs in the OECD as a share of household income. This depresses female labour force participation, suppresses fertility, and acts as a giant marginal tax on the second earner. The recent expansion of "free hours" helps but the supply-side problem (provider economics, ratios, planning for nurseries) isn't fixed. Why not done: It's expensive, the sector is politically diffuse, and ratios/quality regulations have genuine trade-offs that aren't easy to legislate around. 8. NHS productivity reform plus sustained capital investment Confidence: Medium. Reasoning: NHS productivity has fallen meaningfully since 2019 even as funding rose. The UK has unusually few CT/MRI scanners per capita, old buildings, and weak digital infrastructure. Capital investment with productivity-linked reform (better IT, more diagnostic capacity, GP/secondary care interface) is probably higher-ROI than another marginal headcount increase. Why not done: The NHS is genuinely a political third rail; structural reform gets framed as privatisation regardless of content. Capital is the easiest budget to cut in any given year, so it gets cut repeatedly. 9. Curtail judicial review of major infrastructure Confidence: Medium. Reasoning: HS2, Heathrow, nuclear, transmission lines — UK infrastructure costs are 2–4x peer countries partly because of endless legal challenges and the consultations that anticipate them. A narrower "did the decision-maker follow the process" standard, with tight time limits, would lower costs without sacrificing core rule-of-law protections. Why not done: Constitutionally fraught, lawyers and the legal establishment push back hard, and any government doing this is accused of authoritarianism — sometimes fairly. 10. Reform the pensions triple lock and the wider intergenerational settlement Confidence: Medium-high on the need; medium on whether reform alone "fixes" much. Reasoning: The triple lock ratchets state pension spending up faster than wages or prices and is a major driver of long-run fiscal pressure. Combined with NI exemption for pensioners and protected pensioner benefits, the UK has built a fiscal regime that systematically transfers from young workers to older asset-holders. Untangling this would free fiscal space for investment in #4, #7, #8. Why not done: Pensioners vote at roughly 75% turnout; under-30s at roughly 50%. The maths is unforgiving. A few honourable mentions I cut: tax simplification (genuinely good but rarely "fix everything"), proportional representation (large effects but unclear sign), drug policy reform (good evidence base, narrower scope), regulator growth duties / a serious bonfire of Quangos rationalisation, and reforming the apprenticeship levy. The pattern. Almost every item above is blocked by the same underlying thing: a system that makes losses visible and concentrated while gains are diffuse and slow, in a country where homeowners and pensioners vote heavily. The "switch" in the meme exists; it's just wired to a circuit that the median voter has a strong short-run reason to leave alone. That's not a reason not to flip it — it's a reason the case has to be made repeatedly and honestly. Standard disclaimer: reasonable people disagree on all of this, especially #6, #9, and #10, and "well-implemented" is doing a lot of work in every line above.

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Tim Ferris
Tim Ferris@mrtimferris·
@WarGit It’s the Starmer mistake all over again. Someone who looks the part, has a seemingly passable CV, very little political experience, and we have no idea what he really thinks about any policy.
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