A week of British comics at the New Statesman

Introducing our themed week on the NS blogs.

"BAM! POW! Comics aren't for kids anymore!"

The state of mainstream discourse about the comics industry has historically been… poor. For years, pretty much the only coverage the medium received in national newspapers or magazines was occasional breathless articles when a comic broke out past the gatekeepers to find "proper" acclaim in literary awards, cinema or scholarly work. Never mind the fact that, even since the 1980s, with Alan Moore's Watchmen, Frank Miller's The Dark Knight Returns and Art Speigelman's Maus, such events happened with alarming regularity – each individual occurrence was still largely treated as an aberration, proof, not of the viability of the medium, but of the exceptional nature of that particular work.

In recent years, that has changed. Respectful treatment of the gamut of comics has become the norm, with reviews of comics now a common feature alongside reviews of films, prose and video games in most papers. The New Statesman used to do round-ups of the latest graphic novels, but they fell by the wayside; we will now be reinstating a weekly comic review, starting with yesterday's review of Joff Winterheart's Days of the Bagnold Summer.

Comics are strongly associated with a small pool of countries. America superheroes, the mythos of the modern age, are the biggest influence in Britain; Franco-Belgian comics, including the classic Tintin and Asterix & Obelix series, exert their own pull; and Japan, with its strong manga tradition, has a home-grown industry which only started to be exported in any quantity in the 1990s.

But Britain has its own comics industry. For years reduced to a stub of little more than 2000AD, the Beano and the Dandy, as better money and bigger audiences in America sucked away the best and brightest, a new generation of writers, artists and publishers have revived the scene.

That's why the New Statesman website is having a special week celebrating British comics. Everyday this week, we will be highlighting the best British creators, as well as looking at the life of an artist, the state of all-ages comics, and some much-missed bits of the scene which are no longer around.

If you have any suggestions over what we should cover, leave a comment or find us on Twitter: @newstatesman

Monday: Karrie Fransman and Tom Humberstone, comics journalists, by Alex Hern.

Tuesday: Al Ewing and Henry Flint of 2000 AD, a British institution, by Colin Smith, and the rise and fall of the great British football comic, by Seb Patrick.

Wednesday: Philippa Rice and Luke Pearson, small press, big talent, by Michael Leader, and Kids Read Comics: a popular revival, by Laura Sneddon.

Thursday: Why we're banging on about comics so much, by Hayley Campbell and the British are coming (again): Jamie McKelvie and Kieron Gillen, by James Hunt.

Friday: The lovely mafia of British comics, by Hannah Berry, and, finally, So You Like British Comics. Where Next?, by Alex Hern

Photograph: Getty Images

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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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