Economics lookahead: w/c 26 March

What to expect in the week to come.

Monday

  • The Budget debate is timetabled to finish today, shortly before the House begins recess. Since the Budget last week, the Chancellor's "granny tax" – a real-terms cut in pensions for middle-income pensioners – has been the subject of several waves of backlash and counter-backlash.
  • The think tank Reform holds a seminar on "stimulus versus austerity".
  • The left-wing Compass group holds its annual lecture. The topic this year is "The Craft of Co-operation" and it is given by the London School of Economics professor Richard Sennett.    

Tuesday

  • The Health and Social Care Bill – the NHS bill – is likely to get royal assent by today, officially becoming law. The bill has been the subject of a last-minute, symbolic campaign to petition the Queen not to give her assent.
  • The business, innovation and skills select committee is hearing oral evidence on apprenticeships. Witnesses include the head of skills at Microsoft UK and the HR director of Morrisons supermarkets.

Wednesday

  • UK National Statistics releases the final growth figures for the fourth quarter of 2011/2012. Last month, it revised its estimate down by 0.2 percentage points.
  • The Financial Services Authority publishes its biannual dossier of all complaints received against companies under its jurisdiction.
  • The Supreme Court of the United States finishes its three days of oral arguments on health-care reform. The court normally takes a few weeks after oral arguments conclude to publish its opinion.

Thursday

  • The Brics group (Brazil, Russia, India, China and South Africa) holds its annual summit meeting. This year, it is taking place in New Delhi, India, and South Africa will be in attendence for the first time.
  • UK National Statistics releases its labour productivity statistics and the monthly service-sector figures.
  • The monetarist think tank the Institute of Economic Affairs holds its annual Hayek Memorial Lecture. This year, Professor Elinor Ostrom will speak on market failure and government regulation.
  • The think tank Centre for Cities is holding its post-Budget briefing, moved from Tuesday..

Friday

  • The UK Consumer Confidence Survey, conducted on behalf of the European Commission, is released.
  • UK National Statistics releases the Maastricht-mandated report on government debt and deficit.
Friedrich Hayek. Credit: Getty Images/Hulton Archive

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Is there such a thing as responsible betting?

Punters are encouraged to bet responsibly. What a laugh that is. It’s like encouraging drunks to get drunk responsibly, to crash our cars responsibly, murder each other responsibly.

I try not to watch the commercials between matches, or the studio discussions, or anything really, before or after, except for the match itself. And yet there is one person I never manage to escape properly – Ray Winstone. His cracked face, his mesmerising voice, his endlessly repeated spiel follow me across the room as I escape for the lav, the kitchen, the drinks cupboard.

I’m not sure which betting company he is shouting about, there are just so many of them, offering incredible odds and supposedly free bets. In the past six years, since the laws changed, TV betting adverts have increased by 600 per cent, all offering amazingly simple ways to lose money with just one tap on a smartphone.

The one I hate is the ad for BetVictor. The man who has been fronting it, appearing at windows or on roofs, who I assume is Victor, is just so slimy and horrible.

Betting firms are the ultimate football parasites, second in wealth only to kit manufacturers. They have perfected the capitalist’s art of using OPM (Other People’s Money). They’re not directly involved in football – say, in training or managing – yet they make millions off the back of its popularity. Many of the firms are based offshore in Gibraltar.

Football betting is not new. In the Fifties, my job every week at five o’clock was to sit beside my father’s bed, where he lay paralysed with MS, and write down the football results as they were read out on Sports Report. I had not to breathe, make silly remarks or guess the score. By the inflection in the announcer’s voice you could tell if it was an away win.

Earlier in the week I had filled in his Treble Chance on the Littlewoods pools. The “treble” part was because you had three chances: three points if the game you picked was a score draw, two for a goalless draw and one point for a home or away win. You chose eight games and had to reach 24 points, or as near as possible, then you were in the money.

“Not a damn sausage,” my father would say every week, once I’d marked and handed him back his predictions. He never did win a sausage.

Football pools began in the 1920s, the main ones being Littlewoods and Vernons, both based in Liverpool. They gave employment to thousands of bright young women who checked the results and sang in company choirs in their spare time. Each firm spent millions on advertising. In 1935, Littlewoods flew an aeroplane over London with a banner saying: Littlewoods Above All!

Postwar, they blossomed again, taking in £50m a year. The nation stopped at five on a Saturday to hear the scores, whether they were interested in football or not, hoping to get rich. BBC Sports Report began in 1948 with John Webster reading the results. James Alexander Gordon took over in 1974 – a voice soon familiar throughout the land.

These past few decades, football pools have been left behind, old-fashioned, low-tech, replaced by online betting using smartphones. The betting industry has totally rebooted itself. You can bet while the match is still on, trying to predict who will get the next goal, the next corner, the next throw-in. I made the last one up, but in theory you can bet instantly, on anything, at any time.

The soft sell is interesting. With the old football pools, we knew it was a remote flutter, hoping to make some money. Today the ads imply that betting on football somehow enhances the experience, adds to the enjoyment, involves you in the game itself, hence they show lads all together, drinking and laughing and putting on bets.

At the same time, punters are encouraged to do it responsibly. What a laugh that is. It’s like encouraging drunks to get drunk responsibly, to crash our cars responsibly, murder each other responsibly. Responsibly and respect are now two of the most meaningless words in the football language. People have been gambling, in some form, since the beginning, watching two raindrops drip down inside the cave, lying around in Roman bathhouses playing games. All they’ve done is to change the technology. You have to respect that.

Hunter Davies is a journalist, broadcaster and profilic author perhaps best known for writing about the Beatles. He is an ardent Tottenham fan and writes a regular column on football for the New Statesman.

This article first appeared in the 05 February 2015 issue of the New Statesman, Putin's war