What Is 'Manchesterism'— And Will It Boost Britain's Economy?
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Welcome to the Merindoc's Money Market Wrap, where we break down the biggest moves in the markets this week and what has been driving them. I am Meryn Somerset-Webb, Bloomberg's UK Money's Editor-at-Large. And I'm John Stevick, Senior Reporter and author of the Money Distilled Newsletter. Welcome back from yet another holiday, John.
Oh, thank you.
I think you had a nice time. It was wonderful. It was great. It was actually much cooler than London as well. Really? Okay, a couple of degrees cooler, I'm lying. I was in Greece. Okay, and while you were away, lots of stuff happened. It did, unusually. Normally I come back and I just write a big column about how nothing's changed. That's absolutely not true. Every time you go away, something happens. Every time. What happened the last time I was away? I can't remember. Oh, probably another prime minister. Another prime minister. In fact, it's almost definitely another prime minister. What else would it be? One a week, right? You only have to go on holiday for two weeks and you've got a couple under your belt. Anyway, the interesting stuff that has happened while you've been away to the extent that any of this stuff is actually deeply interesting is that we have this new candidate for prime minister who's acting as though he is prime minister already, which I have to say I find mildly irritating, but that's just me.
And he has given us a speech, no questions allowed at the end of, about roughly what his policies might or might not be. And some people would say it would word salad. Some people find it very inspiring. I don't know. What did you think, John? I'm going to go with mostly word salad. I feel that he was repeating a load of stuff, which seems like common sense. And everyone says when they get any power and it's like, why can't we do this? Why isn't this easier? But actually not then explaining how he was going to do any of it. Because clearly these common sense things can't be easy or else they'd have been done by now. They'd have been done already. Exactly. I'm particularly enjoying on social media the not the Messiah posts.
I don't know if you've seen those. Is this a Life of Brian reference?
Life of Andy.
It's very good. And I'm also looking forward to him being properly dressed. I know you've had this conversation before with the love of God when I put on politicians dressed properly. World stage and all that. But he's authentic. Not dignified. I don't want authentic. I want dignified. So this week, we're going to do things a little bit differently. It's less of an immediate market wrap and more of a sort of deep dive. I mean, honestly, everything that happens in UK politics is relevant for markets.
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