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Rt Hon Steve Baker FRSA 🗽 Profile picture
@SteveBakerFRSA
Sep 28, 2020 • 5 tweets • 2 min read • Read on X
For people trying to understand what the row is this week over coronavirus law, please see the attached summary of procedure for delegated legislation, here:

parliament.uk/about/how/laws…

The problem is that the Government has been over-using the "rare" made affirmative procedure.
"Most SIs subject to the affirmative procedure are laid in the form of a draft SI. They are considered by the Joint Committee on Statutory Instruments (JCSI)." ...
"The role of this committee is to scrutinise the SI to ensure it is legal and *does not go beyond the powers specified in the parent Act*." [emphasis mine]

The Public Health (Control of Disease) Act 1984 is subject to JR, now at appeal:

hansard.parliament.uk/Commons/2020-0…
See for example:

And do look at the excellent Coronavirus Statutory Instruments Dashboard from @HansardSociety - it is very much more interesting than it sounds!

hansardsociety.org.uk/publications/d…

And massive thanks to everyone at @HansardSociety for such hard work and a great tool.

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More from @SteveBakerFRSA

Rt Hon Steve Baker FRSA 🗽 Profile picture
Jun 10
🏆This is an admirably bleak analysis of the UK's finances from @BBCPanorama and @BBCRosAtkins

☹️But it's not bleak enough: it does not consider the monetary aspects of our plight.

🧵
😱My paper for @axiombtc surveys the data and makes the argument that because politicians cannot face up to sufficiently cutting spending, we face currency collapse:

axiombtc.capital/honest
📺This documentary from @CobdenCentre is for a general audience:

Read 10 tweets
Rt Hon Steve Baker FRSA 🗽 Profile picture
May 19
🇬🇧In negotiating this ‘reset’ in UK-EU relations, Keir Starmer has done exactly what he always intended: sat down on the EU’s side of the table and given them everything they wanted.

A thread… 👇

❌️This so-called “reset” isn’t diplomacy—it’s surrender. Sold as pragmatism, in reality it is a clear infraction of Britain’s interests and a betrayal of the referendum result.

👎The worst example? SPS alignment. Instead of mutual recognition like the EU-New Zealand deal, Starmer has locked us into the EU’s regulatory framework indefinitely—with no voice and no veto.
Read 11 tweets
Rt Hon Steve Baker FRSA 🗽 Profile picture
May 9
❓How do dating apps change the early stages of relationships?
❓What do you think about AI?
❓What can we do to embed tolerance by design?
Read 4 tweets
Rt Hon Steve Baker FRSA 🗽 Profile picture
Mar 20
😳Preparing to speak on Bitcoin later for @axiombtc, I found this note I wrote for @bankofengland almost ten years ago.

❓What’s changed? More QE…

🧵Five areas for serious thought

cobdencentre.org/2015/09/one-ba…
1️⃣Risk, risk modelling and incentives

Inadequate risk modelling follows as a consequence of the moral hazard implicit in the system.

VAR-based risk models have repeatedly been shown inadequate yet they legitimize under-provisioning for losses, thus increasing risk and inflating profits.

Leverage ratio regulation suffers from the epistemological problem of the social sciences so it is likely to fail.

The accounting provisions of IFRS in relation to mark-to-market and loan losses further promote risk-taking and instability. [I believe this phenomenon has been improved.]

Basel capital adequacy rules failed in the past and will fail again.

Authors: Kevin Dowd, Gordon Kerr, John Butler.
2️⃣Capital-based macroeconomics and the boom-bust cycle

CPI targeting is dangerously misplaced: consumer prices are the final signal at the end of a long production chain.

Monetary fluctuations have material effects on the real structure of prices and capital. Prices become detached from underlying realities such as resource availability, technology and consumer preferences.

Interest rate manipulation by authority discoordinates the economy in time by sending false signals about preferences for saving, borrowing, consumption and investment.

Authors: Jesús Huerta de Soto, Detlev Schlichter, John Butler, Roger Garrison, Kevin Dowd, Mises, Hayek, Steve Horwitz.
Read 10 tweets
Rt Hon Steve Baker FRSA 🗽 Profile picture
Jan 22
📻Shortly, I will be on @TimesRadio to discuss Net Zero: times.radio

🧵References

📢My proposed strategy:

conservativehome.com/2022/02/23/ste…
🇬🇧On the available data, UK emissions are 0.81% of the global total

ourworldindata.org/co2-and-greenh…Image
Image
📈Between 2022 and 2023, total UK CO2 emissions were less than China’s annual increase: 305 million tonnes vs 550 million tonnes

Note ours decreased

[same source] Image
Image
Image
Read 12 tweets
Rt Hon Steve Baker FRSA 🗽 Profile picture
Nov 22, 2024
🥀 What’s happening is the slow collapse of the post war social democratic system under the weight of state intervention, tax, debt and currency debasement.

💡Get the charts:

🔗 x.com/stevebakerfrsa… x.com/uklabour/statu…
🗽insight.stevebaker.info

x.com/stevebakerfrsa…
✊🗽
Read 5 tweets

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