The Friday Arts Diary

Our cultural picks for the week ahead, from Hitchcock to Heatherwick at the V&A.

Film

The British Film Institute, London, SE1: The Genius of Hitchcock, 1 June – 1 October

He is perhaps Britain’s most iconic filmmaker, and from June until October the BFI will be paying homage to the visionary director who left an indelible stamp on the world of cinema, art and popular culture. Two years ago, efforts began to restore Hitchcock’s nine surviving silent films. Thanks to serious dedication from the BFI and its patrons, the restored films will be screened at world premiere events in June and July, hosted by iconic London venues including the British Museum and Wilton’s Music Hall. From August until October the BFI Southbank will also be screening the entire retrospective of the Hitchcock’s cinematic career.

Dance

Sadler’s Wells and the Barbican Centre, London, EC1 and EC2: Tanztheater Wuppertal Pina Bausch — World Cities, 6 June – 9 July

Pina Bausch has stood the test of time as a seminal influence on modern dance, a performer and choreographer with an experimental viewpoint and an “unmatched ability to combine the poetic and the everyday”. Sadler’s Wells Theatre and the Barbican Centre team up for a marathon series of performances: ten works inspired by ten global cities – each one lived in by Bausch and her dance company Tanztheater Wuppertal for a period of time – staged over four weeks. Sadler’s Wells artistic director and Pina Bausch devotee Michael Morris calls the season an endurance test dreamt up “over a dinner filled with red wine.” Sure to be an extraordinary dance spectacle of the first order.

Ideas

Hay-on-Wye, Wales: How the Light Gets In Festival, 31 May - 10 June

How the Light Gets In can proudly call itself the largest philosophy and music festival in the world. Hosted in the lovely Welsh town of Hay-on-Wye, the festival features ten days of debates on a host of philosophical topics ranging from art to ethics, politics to science. Here is a place where provocative ideas can mingle with a fine array of alternative music and comedy. Our own culture editor, Jonathan Derbyshire, will be chairing a debate on Uncharted Territory: Progress for the New Era, as well as speaking in discussions titled Hawking v. Philosophy and The World in Our Hands (featuring Nigel Lawson and Polly Higgins).

Exhibition

Victoria and Albert Museum, London, SW7: Heatherwick Studio: Designing the Extraordinary, 31 May - 30 September

This will be the first major exhibition of the work of Thomas Heatherwick and his design team at Heatherwick Studio. Hosted by the Victoria and Albert Museum, who have called Heatherwick “one of the most inventive and experimental British design studios practising today,” this is a thrilling opportunity to see some of the more infamous (a redesigned Routemaster) and lesser-known gems (the Longchamp zipper bags) from Heatherwicks’ oeuvre. Thames and Hudson have also published a very beautiful book to coincide with the show’s opening.

Art

Various Venues, London: London Festival of Photography, 1 - 31 June

Formally known as the London Street Photography Festival, this month-long series of exhibitions is back for its second year with a new name but the same agenda – to provide a platform for photography as a means of “visual storytelling”. This year’s exhibitions will be grouped around the common theme of Inside Out: Reflections on the Public and Private. With work from established and emerging artists, contemporary practitioners and historic entrepreneurs, the scope of work is broad and forward thinking. Highlights will include The Gaddafi Archive, an exclusive series excavated from the Human Rights Watch photography collection, and the Great British Public - contemporary images from across Britain shot by range of talented photographers.

Alfred Hitchcock in Cambridge, 1966 (Photo: Peter Dunne/Express/Getty Images)
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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