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Forget Osborne. It was Miliband's afternoon, says Mehdi Hasan

Miliband can do it - give him a chance.

Forget the Budget. As the IPPR's Will Straw pointed out on Twitter:

What a waste of an hour. Nothing in the #Budget that hadnt been leaked.

Indeed. The Hugh Dalton era is well and truly over. George Osborne stood at the despatch box, with his glass of water, and performed a glorified version of a TV-news-channel paper review, confirming the various leaks and briefings to the press - from the cut in the top rate of tax to the increase in the tax allowance. But there was no still no sign of a stimulus package; no plan for growth. The Osborne slump continues.

The economics, therefore, took a backseat to the politics. This was, after all, yet another test for Ed Miliband. How would he perform? What would he say? How would he sound? The coalition's bizarre decision to slash the popular 50p top rate of tax, in particular, presented the leader of the opposition with an open goal - and, this time, he didn't miss. He looked - and sounded - confident; his opponents, the Prime Minister and the Chancellor, looked exasperated and annoyed as they sat and listened.

Miliband had facts:

What did the Chancellor say in August last year about America's more balanced deficit plan:

"Those who spent the whole of the past year telling us to follow the American example need to answer this simple question: why has the US economy grown more slowly than the UK economy?"

Mr Deputy Speaker, the numbers are in.

And the Chancellor is plain wrong.

The US economy grew at 1.7% last year, twice the rate of ours.

This Government have run out of excuses.

He had outrage:

Under his tax cut, a banker earning five million pounds will get an extra £240,000 a year.

Let's call this what it really is:

The Government's very own bankers' bonus.

He had humour:

It is great to support the great British success stories like Downton Abbey.

A tale of a group of out of touch millionaires.

Who act like they're born to rule.

But turn out to be no good at it.

Sound familiar Mr Deputy Speaker?

We all know it's a costume drama.

They think it's a fly on the wall documentary.

My own favourite gag/trick was when the Labour leader asked members of the coalition cabinet, seated opposite him, to raise their hands if they would be personally benefiting from the cut in the 50p top rate of tax. It was a cheap shot - but it hit home. Millionaire ministers shifted uneasily in their seats; some - I'm looking at you William Hague and George Young! - looked away and pretended not to hear. "Just nod," proclaimed Miliband, deploying a favourite put-down of the Prime Minister to great effect.

It was, in my view, a brilliant speech - especially given how difficult and awkward it is for leaders of the opposition to respond to Budget statements in the Commons, at such short notice. One friend of Miliband told me: "We were pretty pleased." Well, that's an understatement! Another source close to the Labour leader said the speech was a "group effort" but that "Ed and Torsten [Henricson-Bell, Miliband's economics adviser and the Labour Party's new director of policy] get most credit" for writing it. If only his conference speech had been delivered with such gusto. . .

The former Labour minister and ardent Blairite, George Foulkes, who backed David Miliband in the 2010 leadership contest, tweeted:

Ed Miliband has delivered the best Budget response I have heard from Opposition Leaders in 33 years in Parliament.

Brother David joined the tributes, with this brief tweet:

Excellent Budget response by Ed

The pessimists and defeatists on the Labour front and backbenches should take note not just of the dismal failure of the coalition's austerity measures - which some of the more right-wing among them would like to ape and emulate - but also their leader's bravura performance this afternoon. Yes, I admit: they are few and far between; far too few for my liking. But Miliband can do it. So, as I've said before, give him a chance.

 

 

Mehdi Hasan is a contributing writer for the New Statesman and the co-author of Ed: The Milibands and the Making of a Labour Leader. He was the New Statesman's senior editor (politics) from 2009-12.

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An unmatched font of knowledge

Edinburgh’s global reputation as a knowledge economy is rooted in the performance and international outlook of its four universities.

As sociologist-turned US Senator Daniel Patrick Moynihan recognised when asked how to create a world-class city, a strong academic offering is pivotal to any forward-looking, ambitious city. “Build a university,” he said, “and wait 200 years.” He recognised the long-term return such an investment can deliver; how a renowned academic institution can help attract the world. However, in today’s increasingly globalised higher education sector, world-class universities no longer rely on the world coming to come to them – their outlook is increasingly international.

Boasting four world-class universities, Edinburgh not only attracts and retains students from around the world, but also increasingly exports its own distinctively Scottish brand of academic excellence. In fact, 53.9% of the city’s working age population is educated to degree level.

In the most recent QS World University Rankings, the University of Edinburgh was named as the 21st best university in the world, reflecting its reputation for research and teaching. It’s a fact reflected in the latest UK Research Exercise Framework (REF), conducted in 2014, which judged 96% of its academic departments to be producing world-leading research.

Innovation engine

Measured across the UK, annual Gross Value Added (GVA) by University of Edinburgh start-ups contributes more than £164m to the UK economy. In fact, of 262 companies to emerge from the university since the 1960s, 81% remain active today, employing more than 2,700 staff globally. That performance places the University of Edinburgh ahead of institutions such as MIT in terms of the number of start-ups it generates; an innovation hothouse that underlines why one in four graduates remain in Edinburgh and why blue chip brands such as Amazon, IBM and Microsoft all have R&D facilities in the city.

One such spin out making its mark is PureLiFi, founded by Professor Harald Haas to commercialise his groundbreaking research on data transmission using the visible light spectrum. With data transfer speeds 10,000 times faster than radio waves, LiFi not only enables bandwidths of 1 Gigabit/sec but is also far more secure.

Edinburgh’s universities play a pivotal role in the local economy. Through its core operations, knowledge transfer activities and world-class research the University generated £4.9bn in GVA and 44,500 jobs globally, when accounting for international alumni.

With £1.4bn earmarked for estate development over the next 10 years, the University of Edinburgh remains the city’s largest property developer. Its extensive programme of investment includes the soon-to-open Higgs Centre for Innovation. A partnership with the UK Astronomy Technology Centre, the new centre will open next year and will supply business incubation support for potential big data and space technology applications, enabling start-ups to realise the commercial potential of applied research in subjects such as particle physics.

It’s a story of innovation that is mirrored across Edinburgh’s academic landscape. Each university has carved its own areas of academic excellence and research expertise, such as the University of Edinburgh’s renowned School of Informatics, ranked among the world’s elite institutions for Computer Science. 

The future of energy

Research conducted into the economic impact of Heriot-Watt University demonstrated that it generates £278m in annual GVA for the Scottish economy and directly supports more than 6,000 jobs.

Set in 380-acres of picturesque parkland, Heriot-Watt University incorporates the Edinburgh Research Park, the first science park of its kind in the UK and now home to more than 40 companies.

Consistently ranked in the top 25% of UK universities, Heriot-Watt University enjoys an increasingly international reputation underpinned by a strong track record in research. 82% of the institution’s research is considered world-class (REF) – a fact reflected in a record breaking year for the university, attracting £40.6m in research funding in 2015. With an expanding campus in Dubai and last year’s opening of a £35m campus in Malaysia, Heriot-Watt is now among the UK’s top five universities in terms of international presence and numbers of international students.

"In 2015, Heriot-Watt University was ranked 34th overall in the QS ‘Top 50 under 50’ world rankings." 

Its established strengths in industry-related research will be further boosted with the imminent opening of the £20m Lyell Centre. It will become the Scottish headquarters of the British Geological Survey, and research will focus on global issues such as energy supply, environmental impact and climate change. As well as providing laboratory facilities, the new centre will feature a 50,000 litre climate change research aquarium, the UK Natural Environment Research Council Centre for Doctoral Training (CDT) in Oil and Gas, and the Shell Centre for Exploration Geoscience.

International appeal

An increasingly global outlook, supported by a bold international strategy, is helping to drive Edinburgh Napier University’s growth. The university now has more than 4,500 students studying its overseas programmes, through partnerships with institutions in Hong Kong, Singapore, China, Sri Lanka and India.

Edinburgh Napier has been present in Hong Kong for more than 20 years and its impact grows year-on-year. Already the UK’s largest higher education provider in the territory, more than 1,500 students graduated in 2015 alone.

In terms of world-leading research, Edinburgh Napier continues to make its mark, with the REF judging 54% of its research to be either world-class or internationally excellent in 2014. The assessment singled out particular strengths in Earth Systems and Environmental Sciences, where it was rated the top UK modern university for research impact. Taking into account research, knowledge exchange, as well as student and staff spending, Edinburgh Napier University generates in excess of £201.9m GVA and supports 2,897 jobs in the city economy.

On the south-east side of Edinburgh, Queen Margaret University is Scotland’s first university to have an on-campus Business Gateway, highlighting the emphasis placed on business creation and innovation.

QMU moved up 49 places overall in the 2014 REF, taking it to 80th place in The Times’ rankings for research excellence in the UK. The Framework scored 58% of Queen Margaret’s research as either world-leading or internationally excellent, especially in relation to Speech and Language Sciences, where the University is ranked 2nd in the UK.

In terms of its international appeal, one in five of Queen Margaret’s students now comes from outside the EU, and it is also expanding its overseas programme offer, which already sees courses delivered in Greece, India, Nepal, Saudi Arabia and Singapore.

With 820 years of collective academic excellence to export to the world, Edinburgh enjoys a truly privileged position in the evolving story of academic globalisation and the commercialisation of world-class research and innovation. If he were still around today, Senator Moynihan would no doubt agree – a world-class city indeed.

For further information www.investinedinburgh.com