Magic and mentalism

Ghostly goings-on at the Duke of York's Theatre.

Halloween approaches, when "the world's edge seeps and bleeds" according to Hilary Mantel, and so what better time to enjoy the tricks and treats on offer at the Duke of York's Theatre? Ghost Stories is the scary love-child of Andy Nyman (Derren Brown's mind-control collaborator) and Jeremy Dyson (one quarter of The League of Gentlemen); it's in the tenebrous tradition of Victorian mentalism and magic, and comes with dire warnings attached for those of a nervous disposition - namely me.

Nyman himself plays anchorman to the entire proceedings, a certain professorial parapsychologist by the name of Philip Goodman. It's a cunning ruse to have an arch-apologist for the rational curate the ghoulish tales for us in an analytical lecture format. He fluently makes the case for ghosts as manifestations of the troubled mind but then, some way into the show, glitches start to appear in his performance, and at one point he literally comes apart at the seams. Without giving too much away (we're all sworn to secrecy) it turns out that the poor old Prof is protesting too much and is prey, as it were, to his own unresolved anxieties.

The three exemplars offered up by the corduroy-clad Nyman are great fun in an end of pier Ghost Train kind of way, though properly speaking it's more of a slow train - and this is meant as a compliment. Doubtless the intention behind giving the actors the room to do very little for extended periods is to crank up the tension but personally I enjoyed watching the actors unhurriedly go about their mundane, gadget-based affairs: a night watchman ticks away time with internet porn and radio phone-ins; a city broker-type is permanently paired with his smartphone to conduct the adrenalized business of sustaining two Mercs and a mortgage as his domestic life unravels.

Technology is used here to disturbing effect: there is something innately disquieting about the recorded voice - all that spooky distortion - and sound designer Nick Manning makes ample use of speech variously garbled by phones, tape recorders, walkie-talkies, late-night radio. He also subjects us to an indeterminate background rumble as events unfold and jacks up the volume at moments of stress just to shred the nerves a little. Of course night-time is a precondition for things that go bump to really put the wind up the punters and James Farncombe shows a dastardly sleight of hand with the lighting or, more accurately, its absence. This, combined with ingenious misdirection and a highly mobile set, makes for some very nasty surprises indeed.

But it's all rather jolly and a festive mood prevails in the stalls. There's a knowing wit and a conscious hyperbole at work alongside the reveals that would seem to render them harmless as a joke-shop prank or a sophisticated version of peek-a-boo. In the absence of anything truly terrifying, one's imagination is apt to recruit all the chance noises of the auditorium into the narrative: the coughs, rustles and exits are just as jangling as the calculated onstage frighteners.

As a confirmed horror dodger ever since Chitty Chitty Bang Bang (it's not so much the flying car that was creepy, you understand, as the child catcher), I was beginning to congratulate myself on emerging unscathed. Until, that is, the final stretch of the performance, when a new reality kicks in, which, like a double exposure, contains ghostly echoes from the old one. Our touchstone shatters and cracks open to reveal dark ambiguities.

Never mind what it says about us as decadents and voluptuaries that we seek to flirt with fear, and treat yourself to a good scare this Halloween: it's a scream.

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The Autumn Statement proved it – we need a real alternative to austerity, now

Theresa May’s Tories have missed their chance to rescue the British economy.

After six wasted years of failed Conservative austerity measures, Philip Hammond had the opportunity last month in the Autumn Statement to change course and put in place the economic policies that would deliver greater prosperity, and make sure it was fairly shared.

Instead, he chose to continue with cuts to public services and in-work benefits while failing to deliver the scale of investment needed to secure future prosperity. The sense of betrayal is palpable.

The headline figures are grim. An analysis by the Institute for Fiscal Studies shows that real wages will not recover their 2008 levels even after 2020. The Tories are overseeing a lost decade in earnings that is, in the words Paul Johnson, the director of the IFS, “dreadful” and unprecedented in modern British history.

Meanwhile, the Treasury’s own analysis shows the cuts falling hardest on the poorest 30 per cent of the population. The Office for Budget Responsibility has reported that it expects a £122bn worsening in the public finances over the next five years. Of this, less than half – £59bn – is due to the Tories’ shambolic handling of Brexit. Most of the rest is thanks to their mishandling of the domestic economy.

 

Time to invest

The Tories may think that those people who are “just about managing” are an electoral demographic, but for Labour they are our friends, neighbours and the people we represent. People in all walks of life needed something better from this government, but the Autumn Statement was a betrayal of the hopes that they tried to raise beforehand.

Because the Tories cut when they should have invested, we now have a fundamentally weak economy that is unprepared for the challenges of Brexit. Low investment has meant that instead of installing new machinery, or building the new infrastructure that would support productive high-wage jobs, we have an economy that is more and more dependent on low-productivity, low-paid work. Every hour worked in the US, Germany or France produces on average a third more than an hour of work here.

Labour has different priorities. We will deliver the necessary investment in infrastructure and research funding, and back it up with an industrial strategy that can sustain well-paid, secure jobs in the industries of the future such as renewables. We will fight for Britain’s continued tariff-free access to the single market. We will reverse the tax giveaways to the mega-rich and the giant companies, instead using the money to make sure the NHS and our education system are properly funded. In 2020 we will introduce a real living wage, expected to be £10 an hour, to make sure every job pays a wage you can actually live on. And we will rebuild and transform our economy so no one and no community is left behind.

 

May’s missing alternative

This week, the Bank of England governor, Mark Carney, gave an important speech in which he hit the proverbial nail on the head. He was completely right to point out that societies need to redistribute the gains from trade and technology, and to educate and empower their citizens. We are going through a lost decade of earnings growth, as Carney highlights, and the crisis of productivity will not be solved without major government investment, backed up by an industrial strategy that can deliver growth.

Labour in government is committed to tackling the challenges of rising inequality, low wage growth, and driving up Britain’s productivity growth. But it is becoming clearer each day since Theresa May became Prime Minister that she, like her predecessor, has no credible solutions to the challenges our economy faces.

 

Crisis in Italy

The Italian people have decisively rejected the changes to their constitution proposed by Prime Minister Matteo Renzi, with nearly 60 per cent voting No. The Italian economy has not grown for close to two decades. A succession of governments has attempted to introduce free-market policies, including slashing pensions and undermining rights at work, but these have had little impact.

Renzi wanted extra powers to push through more free-market reforms, but he has now resigned after encountering opposition from across the Italian political spectrum. The absence of growth has left Italian banks with €360bn of loans that are not being repaid. Usually, these debts would be written off, but Italian banks lack the reserves to be able to absorb the losses. They need outside assistance to survive.

 

Bail in or bail out

The oldest bank in the world, Monte dei Paschi di Siena, needs €5bn before the end of the year if it is to avoid collapse. Renzi had arranged a financing deal but this is now under threat. Under new EU rules, governments are not allowed to bail out banks, like in the 2008 crisis. This is intended to protect taxpayers. Instead, bank investors are supposed to take a loss through a “bail-in”.

Unusually, however, Italian bank investors are not only big financial institutions such as insurance companies, but ordinary households. One-third of all Italian bank bonds are held by households, so a bail-in would hit them hard. And should Italy’s banks fail, the danger is that investors will pull money out of banks across Europe, causing further failures. British banks have been reducing their investments in Italy, but concerned UK regulators have asked recently for details of their exposure.

John McDonnell is the shadow chancellor


John McDonnell is Labour MP for Hayes and Harlington and has been shadow chancellor since September 2015. 

This article first appeared in the 08 December 2016 issue of the New Statesman, Brexit to Trump