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The extravagant delusions of Rachel Reeves
đ 20p Cartier | đŹ Thielâs stakes | đŚ Turkey twists
In the headlines
Rachel Reeves will deliver her second Budget at 12.30pm today, with what is expected to be a smorgasbord of tax-raising measures aimed at filling a ÂŁ30bn hole in the public finances. At the heart of the package will be a two-year extension to the freeze in income tax thresholds, says the FT, which could raise roughly ÂŁ10bn a year. Justice Secretary David Lammy has proposed scrapping jury trials except for the most serious cases or those deemed to be in the public interest, in a bid to slash the backlog in the courts. The majority of cases would be heard by a judge alone, with exceptions for murder, rape and manslaughter. An army of 10,000 robot security guards has been deployed in shops across the country to crack down on shoplifting, says the Daily Star. The Dalek-like bots â which are patrolling crime-ravaged branches of Tesco, Wickes and other big chains â record attempted thefts on video and shout at the thief in an âominousâ Belfast accent, apparently preventing 80% of âintrusionsâ.
Comment

Leon Neal/Getty
The extravagant delusions of Rachel Reeves
Rachel Reeves has spent the past week trying to sell todayâs Budget to the newspapers, says Madeline Grant in The Spectator, which, given her communication abilities, is rather like âasking King Herod to do your babysittingâ. Getting her excuses in early â almost as if she, âlike everyone elseâ, knows today will be a catastrophe â Reevesâs big message is that she has been âunderestimated all her lifeâ. Itâs strange that she hasnât once paused to wonder why everyone has consistently assessed her as ânot up to the jobâ. And speaking âas a womanâ, I can assure Rach most of us do not underestimate her. âWe know sheâs capable of getting much, much worse.â
There is an exceptionally tedious idea in the chancellorâs head that people challenge her because she is a state-educated woman, not because she is âturning the British economy into a clown carâ. A recent âaway from the camerasâ profile in the FT includes a particularly unedifying scene in which a local business leader in Scotland challenges her ârobustly⌠she believes rudelyâ over her taxes on North Sea oil and gas. Rather than an answer, he gets a âhectoring on gender politicsâ, as if âplaying at being a Powerpuff girlâ were a substitute for economic competence. The piece also contains the intensely funny line: âReeves demands respect â and she believes that with her Budget, in spite of everything, she will earn it.â There are people in our nationâs mental institutions who believe they are the Queen of Sheba who are less delusional than this. Reeves says sheâs âsick and tiredâ of hearing that people from ordinary backgrounds canât reach the top. To be fair to her, sheâs proving beyond all doubt that âa girl from a Comp can screw the country up just as thoroughly as any Etonianâ.
đđ¤ˇââď¸ One of Reevesâs madder claims is that none of her male predecessors had to put up with such scrutiny or opprobrium, which âsimply isnât trueâ. Say what you like about George Osborne, he didnât have a go at the crowd who booed him at the Paralympics in 2012. He stood there and took it like a champ.
Architecture
The new interior design status symbol in LA is a whacking great door, says Clio Chang in Curbed. Scorning the âpitifulâ 6ft 8in standard height, rich Californians are opting for entrances tall enough for a giant. Actor Michael B Jordanâs old home had a 20ft front door; the owners of the fancy grocery chain Erewhon have one thatâs two storeys tall. One luxury door manufacturer says heâs made them so big that they ârequire their own steel or aluminium substructureâ. Naturally, these palatial portals donât come cheap, costing anywhere from $25,000 to $100,000.
Inside politics
Hereâs one group of people I donât feel sorry for on Budget day, says Dominic Lawson in the Daily Mail: the 121 company chiefs who signed an open letter before last yearâs election saying Labour was âthe best party for businessâ. What âdupesâ. When a newspaper contacted them all last December, just 28 were willing to repeat their endorsement. How low would that figure be today? Some signatories, like Phones 4u founder John Caudwell, say they were blindsided by the rise in employersâ national insurance. But the petrochemicals billionaire Jim Ratcliffe doesnât even have that excuse â he has moaned about the move to wind down North Sea oil and gas, when that was literally in Labourâs manifesto. Fools, the lot of them.
Food and drink

Americans have long wrestled with the fact that turkey is ungainly, dry and not very nice. Today, says Charles Passy in The Wall Street Journal, chefs from around the world are crafting elaborate thanksgiving dishes to try and improve things. At Hutong in New York there is the Chinese Flaming Turkey, flambĂŠed tableside; Tamarind Tribeca makes a tandoori turkey in a traditional Indian vertical oven (staff joke the bird needs to be taught yoga to fit in the tandoor); Jamaican chain Golden Krust says turkey is so thick it requires massaging in a âturkey spaâ to ensure jerk seasonings are properly integrated; and the Chinese chain RedFarm brines the smallest birds it can find for 24 hours and seasons heavily with Peking spices. Yum?
Comment

A police officer kicking people off Brighton beach in April 2020. Mike Hewitt/Getty
Donât listen to the anti-lockdown nutters
By far the most predictable response to Baroness Hallettâs Covid report was the lockdown sceptics âcoming out in forceâ to pour scorn on it, says Polly Toynbee in The Guardian. Daniel Hannan boasted in the Telegraph that he had been the only one to âstand in the way of a stampedeâ when the country was first locked down. Toby Young âdashedâ to remind Spectator readers that he, too, had opposed the policy from the get-go, along with other supposed heroes such as Peter Hitchens, Allison Pearson and Julia Hartley-Brewer. To read the likes of the Telegraph or the Mail, youâd think the case against lockdown were a simple matter of common sense. But thatâs tosh. âThe public always favours precaution, as they did in lockdown.â
One of the rightâs favourite comparisons is Sweden, which didnât impose lockdowns and ended up with fewer deaths per capita than Britain. âCase proven?â Not at all. Sweden is nothing like the UK in social structure, national wealth, health and social care, and much else. Compare their numbers to âsocially and economically similarâ Norway, which did implement lockdowns, and itâs a different story: Sweden had around 2,759 deaths per million, compared to 1,050 in Norway. Whatâs frustrating is that there really should be a debate on whether lockdowns and the furlough schemes were worth it for the number of (mostly elderly) lives saved. How many so-called âquality-adjusted life yearsâ were preserved, and at what cost? But itâs so much harder to have that debate when every discussion is dominated by the âderangedâ libertarian right, with their insistence that âfreedomâ trumps the need for even the most basic lifesaving measures.
đˇđ At the heart of the scepticsâ credo is the idea that the people who try to protect the public are âlaughable blobs and plodsâ. Back in 2006, for example, Boris Johnson described me as âthe high-priestess of our paranoid, mollycoddled, risk-averse, airbagged, booster-seated culture of political correctness and âelfânâsafety fascismââ. Which, in fairness, is a pretty funny description.
Life

Dinny Hall: knows her gems. Dave Benett/Getty
The British jewellery stalwart Dinny Hall was seven years old when she realised she had an eye for gems, says Chandler Tregaskes in Tatler. Rooting around at a jumble sale in her local village hall, she bought a brooch with âglistening ruby stonesâ for just 20p â and it turned out to be a genuine Cartier. Sadly for Dinny, her mum forced her to return the item to the deep-pocketed villager who had included it in the sale by mistake. But âallâs well that ends wellâ â when Hall launched her eponymous firm 20 years later, that same lady became one of her âbiggest early spendersâ.
On the money
Hereâs an indicator that the AI bubble may be about to burst, says Martin Vander Weyer in The Spectator: Silicon Valley super-investor Peter Thiel â co-founder of PayPal and Palantir, and one of the first backers of Facebook â has just dumped his entire $100m stake in chipmaker Nvidia. His fund also sold three-quarters of its stake in Tesla, while beefing up safer bets on Apple and Microsoft. Might smaller investors be wise to follow a man with a $25bn fortune who knows everyone involved in the upper echelons of AI? Thiel also wants to cheat death with cryogenic preservation. If heâs âpacking his portfolio into the deep freezeâ, Iâd say thatâs a strong signal to sell.
Snapshot

Snapshot answer
Itâs umbilical cord jewellery, says Hannah Sacks in People magazine, which the rapper Cardi B commissioned after having her fourth child. The birthing bling was made by dehydrating the cord in the shape of a heart before dipping it in gold chrome. Itâs the work of the California brand Mommy Made Encapsulation, which has created âumbilical cord keepsakesâ and various placenta-based products â pills, prints, and so on â for celebrities including Megan Fox, Vanessa Hudgens and Chrissy Teigen.
Quoted
âThe only function of economic forecasting is to make astrology look respectable.â
JK Galbraith
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