SARAH VINE: Put people’s homes at risk and it’s game over for the Tories… Do not threaten an Englishman’s castle is the first rule of British politics
Economics is not my forte, to which my bank manager would attest. Politics, however, I do like to think I understand.
So, while I would not presume to criticise the Chancellor’s mini-Budget, one thing is clear: this week’s warnings of dire interest rate rises, and the consequent mayhem in the mortgage markets, with lenders withdrawing offers in their droves, could spell disaster for the Conservative Party.
It doesn’t matter that experts have been forecasting rises for some time, or that rates have been at unprecedentedly low levels for too long.
Nor does it matter that the overall economic picture is in large part down to external factors beyond the Government’s control.
What matters is how all this translates to the ordinary man or woman on the street. And, I’m afraid, it translates into a dangerous disregard for the first rule of British politics: do not threaten an Englishman’s castle.
While I would not presume to criticise the Chancellor’s mini-Budget, one thing is clear: this week’s warnings of dire interest rate rises, and the consequent mayhem in the mortgage markets, with lenders withdrawing offers in their droves, could spell disaster for the Conservative Party
It is a rule that always holds true; but at a time like this — when the nation has just buried its beloved Queen, anxiety is rife after two years of catastrophic lockdowns, the cost of living is soaring with the war in Ukraine, and the very foundations of life feel so shaky — the one thing you don’t do is create a situation where people fear losing their homes.
Yet that is precisely what has happened. Across the land, ordinary, hard-working people, the kind of people who budget and save in order to put a roof over their heads — in other words, loyal Tory voters — are beside themselves with worry. And that is not good.
It’s the very last thing the party needs right now. After the turmoil of the past few months, this Conservative administration should be shoring up those voters, making their lives easier — not causing them sleepless nights that risk sending them straight into the arms of Keir Starmer.
Perhaps that’s what they thought they were doing by announcing tax cuts. But having a few extra pence in the pound is not worth it if the repercussions mean you risk not being able to make your mortgage repayments.
The dream of home ownership is a cornerstone of British life. Bricks and mortar are what the middle classes — the backbone of Britain — aspire to. Undermine that, and they will never forgive you.
It is a lesson the Conservatives ought to have learned already. The last time they lost control of interest rates, in 1992, they precipitated a house price crash that wiped out many homeowners — and sowed the seeds of their inevitable electoral defeat in 1997, followed by years in the political wilderness.
No wonder Starmer referenced Tony Blair in his speech yesterday afternoon: Blair was the man who rose from the ashes after those Conservative mistakes. Now Starmer hopes to do the same.
But this time things are arguably worse. Years of artificially low interest rates have given the false impression that money is easy to come by. Many households have taken on eye-watering levels of debt, even though the cost of living has been rising steadily.
All this cheap money has tricked people into thinking they can afford more than they really can. It won’t take much of a rate hike to knock those who have borrowed beyond their financial comfort zone off the housing ladder.
As I say, I don’t know about the economics of all this, but the politics are simple: put people’s homes at risk, and it’s game over
You could argue (and many will) that reckless borrowing is the fault of the individual, not the Government. But at the end of the day, it’s ministers, not ordinary people, who control the financial climate, and you can’t blame anyone for wanting to buy their own property, especially when rents are so high.
As I say, I don’t know about the economics of all this, but the politics are simple: put people’s homes at risk, and it’s game over.
The Conservatives ignore that simple truth at their peril.
Helena, Goddess of Aliens
Forget UFO sightings and internet conspiracy theories. If you ask me, the strongest proof that aliens really do live among us is Helena Christensen. Fifty-three, and she looks like that. The woman simply cannot be human.
Forget UFO sightings and internet conspiracy theories. If you ask me, the strongest proof that aliens really do live among us is Helena Christensen
What a life changer!
For some people the ultimate must-have autumn accessory is a new pair of shoes or a handbag. Mine is my air-fryer. Until about a month ago, I had never heard of the things, but then my oven packed up and my daughter persuaded me to get one while I was waiting for John Lewis to supply the spare part. At first it was just used for my son’s late-night chicken nuggets and chips; but on Saturday I decided to go crazy and roast an entire chicken in it. A revelation: succulent, juicy — and with perfect crispy skin. On Sunday I tried a small lamb joint: similar results. And all from something not much bigger than my coffee machine, and that cost under £50.
The oven is now fixed, but I’m not sure I’ll ever use it again.
Labour’s mask slips
First Tony Blair’s former spin doctor Alastair Campbell insults Kwasi Kwarteng by calling him ‘Kami Kwasi’ on the Today programme (unchallenged by the presenters, I should point out); later it emerged that Rupa Huq, the Ealing Central and Acton MP, had accused the Chancellor of being ‘superficially’ black. I wonder, what is it that these Labour die-hards find so challenging about the notion of a black man holding high office?
It emerged that Rupa Huq, the Ealing Central and Acton MP, had accused the Chancellor of being ‘superficially’ black
El Shafee Elsheikh, 34, aka ‘Ringo’ in the so-called ISIS Beatles, has been transferred from a tough maximum-security prison to a more palatial establishment in Colorado after his lawyers argued he was showing ‘signs of mental and physical deterioration’. This is a man who, with the other members of his group — all from West London — tortured innocent people, including British aid workers David Haines and Alan Henning, before beheading them and posting the footage online. Sorry, no amount of mental and physical deterioration is too much for this monster.
Given that so many people have been talking about it, I decided I had better watch the Netflix biopic on serial killer Jeffrey Dahmer. I really wish I hadn’t. It’s true-crime porn which revels in the horrific details of Dahmer’s deranged murder spree. Why anyone considers these awful events ‘entertainment’ is beyond me. Netflix may be struggling, but this really is scraping the barrel.
The organisers of next year’s Eurovision face a tough choice: Glasgow or Liverpool for the venue. No offence to Glasgow; but given its musical heritage, surely it must be Liverpool.
However infuriating Phil and Holly’s priority lane at the Queen’s lying-in-state was, the petition to have them sacked amounts to online bullying. They’ve been tarred and feathered enough. Time to move on.
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