There we have it. According to @borisjohnson the UK hasn’t passed the four tests laid out in Feb when the reopening timetable was announced.
A pretty clear pass on tests one and two (vaccines) and a pretty clear fail on test four (variants). Test three unclear.
Reopening delayed.
Here’s the q: what changed between the PM saying 12 days ago that he could see “nothing in the data” to change re-opening timetable and today?
Variant growth rate v similar.
Case growth rate v similar.
Not sure there’s any data we have now that we didn’t on June 2.
What changed?
The point of basing policy on DATA is that you actually follow the data.
Better still, you make it clear what levels of data will trigger what kind of action.
Why? That kind of transparency means people can use that data to plan their lives rather than hoping for leaks from No10
My point here is not abt whether the delay is right or wrong.
It’s that the data that supposedly underlies today’s decision was pretty evident a fortnight ago. Case growth similar today as on June 2. Yet Downing St kept insisting there was nothing in the data to alter timetable
Growth rate of the Delta/Indian variant in recent weeks has been very constant indeed.
Yet throughout this period No10 has kept telling us there’s “nothing in the data” to change the plan.
Until today, when they pointed to Delta growth rate as the reason for delaying reopening.
PM said today case growth was running ahead of projections laid out with unlocking timetable.
What he didn’t point out is that hospitalisations are in line with the best-case scenario from Imperial for SPI-M in Feb.
This could still change. But that’s where we are vs expectations
• • •
Missing some Tweet in this thread? You can try to
force a refresh
What kind of impact will the Australia-UK trade deal have? Short answer is we don’t know, in part because we still have scant detail abt it, in part cos it generally takes a LONG time for these deals to be felt in our lives.
Even so, I think this is a big deal, for a few reasons:
The first thing to remember is the historical context. There are two lazy assumptions knocking around: 1. That the UK could never trade much with Aus given how far away it is and 2. Our trade with them really collapsed when we joined the EU and started imposing their tariffs…
Actually look at Australian trade as % of UK total, it’s clear it used to be REALLY high. Yes, this was partly because of war and partly because it was part of the sterling zone, thus locked into UK economy. But even in ‘50s/60s Aus accounted for 1 in 8 of all imports/exports
"I don't recognise those figures".
This is odd given the figs @TrevorPTweets quoted to @MattHancock are govt's own figs from its NHS Test & Trace spreadsheets. They show it waited far longer to put India on the red list than Pakistan after its Covid positivity hit a certain level
Let me take you (& @matthancock) through it.
This may seem like water under the bridge but it MATTERS because:
1 we now have more of this Delta/Indian variant than almost any other country outside Asia
2 we still have little clarity on how govt decides on red/amber/green lists
It's worth saying at the outset that @MattHancock is absolutely right about one thing: when taking these decisions it's far better to focus on data collected through our testing system on incoming travellers than data you get from, for instance @OurWorldInData. So let's do that.
Breaking: G7 has now agreed a deal on tackling corporate tax avoidance by the tech giants. "It's a proud moment" says Chancellor @RishiSunak. More on @skynews soon
Full details to come in a communique soon but my understanding of main points:
1: new tax rules for firms with 10pc profit margins. Above that, 20pc of profits to be reallocated based on a formula involving sales. Will affect abt 100 firms.
2: global minimum corp tax rate of 15%
While the deal is certainly less ambitious than many wanted (eg 15% not 21%, only 100 companies covered by new rules) there’s no disputing this is a big moment. Global biz tax rules date back a century to the League of Nations. This is the most meaningful step to reform them yet
New: G7 insiders are now expecting a breakthrough on a global minimum corporate tax rate at next week’s finance minister’s meeting in London. Full story: news.sky.com/story/global-t…
There’s been lots of movement behind the scenes on this.
Last wk the working plan was the summit would mostly be about climate change.
Now TAX is likely to dominate.
And G7 insiders say a deal in London is “doable”. Which in turn wld make a G20/OECD deal later this yr more likely
This is big stuff.
Biggest overhaul of tax rules in a century.
But there’s ongoing negotiation between sherpas abt which companies would be affected and how the two “pillars” of this (1. changing how we calculate what taxes are owed where, 2. Global minimum rate) interact.
Exclusive: Big blow for Joe Biden as Irish finance minister tells me he has “significant concerns” with US proposals for global minimum corporate tax rate:
•No plans to change Ireland’s 12.5% rate.
•Expects it to be in place in 5/10 yrs time.
Story here: news.sky.com/story/ireland-…
Irish finmin tells @skynews:
- “sig reservations” abt Biden tax plans
- “proud of the part the 12.5% tax rate has played in our econ development”
- N Ireland protocol helped secure “the long term interests of the island [of Ireland], but “there are issues”
These comments from @Paschald represent the strongest reproach yet to the US president, who is seeking to persuade countries around the world to agree to a floor on corporate tax rates of 15% - the biggest potential reform to international biz taxes in a century.
If we do eventually discover that #Covid19 was indeed something which came from a Chinese laboratory rather than naturally jumping from animals to humans, I think much of the media/establishment will need to think long and hard about how it got this so wrong.
The problem isn’t just what @TomChivers calls “seeing the smoke” vs “reading the room”
It’s not just about interventions
It’s about a kind of mob mentality where we convert the conventional wisdom into a tablet of stone which we then bash over the head of anyone who disagrees
It’s about the fact that when curious people attempted to investigate or cover the lab escape theory - like @mattwridley or @Ianbirrell - they were derided as conspiracy theorists.
Social networks removed their posts, citing fact check sites which didn’t know the answer either.