Michael Winner dies, aged 77

Veteran film-maker and critic dies at his Kensington home

Veteran film director and critic Michael Winner has died, aged 77, in his Kensington home. Liver specialists told him last summer he had between 18 months and two years to live. He had looked into assisted suicide in Switzerland, but found the bureacracy off-putting.

His wife Geraldine, who he met aged 21 in 1957, but did not marry until 2011, has said: "Michael was a wonderful man, brilliant, funny and generous. A light has gone out in my life."

Winner wrote film and TV reviews from a young age. He started at Cambridge University aged 17, editing the student newspaper "Varsity" and commissioned work from fellow-students Michael Frayn and Jonathan Miller.

His best-known films include Scorpio (1973) and the first three episodes in the Death Wish series between 1974 and 1985.

His final film, Parting Shots (1999), began with a man being told he had six weeks to live. The man decides to kill people who have wronged him during his life, and hires an assassin to take him out, rather than let him languish and expire in jail. Total Film declared the work "offensive", "incompetent" and "bad in every possible way", while Empire named it the 42nd worst movie of all time.

However, in recent years he was better known for his Times column "Winner's Dinners" and for his appearances on the Esure car insurance adverts. His slogan, "Calm down dear...", became a British commonplace, and suggested last year that David Cameron may possibly have watched ITV at some point in his life.

During his appearance on This is Your Life Sir Michael Caine told Winner: "You've been a friend to me, Michael, for a long, long time. Whenever I read a newspaper I never recognise the person who is my friend. I'm here really to tell everybody that you are a complete and utter fraud. You come on like a bombastic, ill-tempered monster. It's not the side I see of you."

Winner described himself on Twitter as "a totally insane film director, writer, producer, silk shirt cleaner, bad tempered, totally ridiculous example of humanity in deep shit." Instant opinions being his forte, Twitter seemed a natural home for Winner. One can only assume he made all the shots he had in him before parting. Here are a few of the best.

Philip Maughan is a freelance writer in Berlin and a former Assistant Editor at the New Statesman.

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Leader: Mark Carney — a rock star banker feels the heat

Rather than mutual buck-passing, politicians and central bankers must collaborate in good faith.

On 24 June, the day after the EU referendum, the United Kingdom resembled a leaderless state. David Cameron promptly resigned as prime minister after his humiliating defeat. His closest ally, George Osborne, retreated to the safety and silence of the Treasury. Labour descended into open warfare; meanwhile, the leaders of the Leave campaign appeared terrified by the challenge confronting them and were already plotting and scheming against one another.

The government had not planned for Brexit, and so one of the few remaining sources of authority was the independent Bank of England. Its Canadian governor, the former Goldman Sachs banker Mark Carney, provided calm by announcing that Threadneedle Street had performed “extensive contingency planning” and would not “hesitate to take additional measures”. A month later, the Bank cut interest rates to a ­record low of 0.25 per cent and announced an additional £60bn of quantitative easing (QE). Both measures helped to avert the threat of an immediate recession by stimulating growth and employment.

Since then the Bank of England governor, who this week gave evidence on monetary policy to the economic affairs committee at the House of Lords, has become a favoured target of Brexiteers and former politicians. Michael Gove has compared Mr Carney to a vainglorious Chinese emperor and chided him for his lack of “humility”. William Hague has accused the Bank of having “lost the plot” and has questioned its future independence. Nigel Lawson has called for Mr Carney to resign, declaring that he has “behaved disgracefully”.

At no point since the Bank achieved independence under the New Labour government in 1997 has it attracted such opprobrium. For politicians faced with the risk, and the reality, of economic instability, Mr Carney and his colleagues are an easy target. However, they are the wrong one.

The consequences of loose monetary policy are not wholly benign. Ultra-low rates and QE have widened inequality by enriching asset-holders, while punishing savers. Yet the economy’s sustained weakness as well as poor productivity have necessitated such action. As Mr Osborne consistently recognised when he was chancellor, monetary activism was the inevitable corollary of fiscal conservatism. Without the Bank’s interventionism, government austerity would have had even harsher consequences.

The new Chancellor, Philip Hammond, has rightly taken the opportunity to “reset” fiscal policy. He has abandoned Mr Osborne’s absurd target of seeking to achieve a budget surplus by 2020 and has promised new infrastructure investment in his Autumn Statement on 23 November.

After years of over-reliance on monetary stimulus, a rebalancing is, in our view, necessary. Squeezed living standards (inflation is forecast to reach 3 per cent next year, given the collapse in the value of sterling) and anaemic growth are best addressed through government action rather than a premature rise in interest rates. Though UK gilt yields have risen in recent weeks, borrowing costs remain at near-record lows. Mr Hammond should not hesitate to borrow to invest, as Keynesians have long argued.

The Bank of England is far from infallible, of course. In recent years, its growth and employment forecasts have proved overly pessimistic. Mr Carney’s immediate predecessor, Mervyn King, was too slow to cut rates at the start of the financial crisis and was ill-prepared for the recession that followed. Central bankers across the developed world, most notably the former Federal Reserve head Alan Greenspan, have too often been treated as seers beyond criticism. Their reputations have suffered as a consequence.

Yet the principle of central bank independence remains one worthy of defence. Labour’s 1997 decision ended the manipulation of interest rates by opportunistic politicians and enhanced economic stability. Although the Bank’s mandate is determined by ministers, it must be free to set monetary policy without fear of interference. The challenge of delivering Brexit is the greatest any British government has faced since 1945. Rather than mutual buck-passing, politicians and central bankers must collaborate in good faith on this epic task.

This article first appeared in the 27 October 2016 issue of the New Statesman, American Rage