The sound of one hand clapping

It's fitting, but frustrating, that the annual Gramophone Awards were announced quietly in a Hawksmoor church in North London.

In an age of greatest hits, best evers and one-and-onlys, classical music has become a lone voice of moderation in a clamour of superlatives. As an industry we’re modest to a fault, ruthlessly chopping down our tall poppies with chastening reviews and damnings with faint praise, subjecting our artists to the kind of demanding scrutiny that only comes from love and just a little bit of obsession. So while the Grammy Awards are a technicolour extravaganza (only outdone by the MTV Awards) and even the edgy Mercury Prize sprawls over front pages and column inches, it’s fitting that the annual Gramophone Awards were announced quietly last night in a Hawksmoor church in North London.

Fitting, but also frustrating. Taking place within weeks of the Classic BRIT Awards – the commercial face of classical music – the Gramophone Awards risk being obliterated by their louder rival. Voted for by critics rather than by the public (as is the case for the BBC Music Magazine Awards) or industry members (the Grammys, Classic BRITs), the Gramophone Awards are easy target for those already inclined to see classical music as a whispered conversation among the ivory-towered elite.

But while democracy in music has given us One Direction, meritocracy has given us Domingo, Monserrat Caballe, Menuhin and Glenn Gould. Classical music doesn’t need to shout, but that’s no reason why it shouldn’t.

A major change this year saw Gramophone’s individual category winners announced in advance, saving only the public-voted Artist of the Year award and the Record of the Year for the ceremony itself. This gave us several weeks to pore over the eleven winners – Jonas Kaufmann at his peak in Wagner, a vividly quirky Trittico from Antonio Pappano and the Royal Opera, the baroque glories of the Gabrieli Consort’s Venetian Coronation, bold, generous performances all – before they were obscured by the big winner. It’s a shift to a savvier, more commercially-minded approach and not before time. Only through exposure, through champions, highlights and yes, even short-cuts, can classical music reach audiences in the current digital babel.

When the Gramophone Awards were launched in the 1970s the recording industry was a simpler and smaller affair. Each week saw a fraction of the new releases we have now, with radio the only real alternative to buying records. Now, with the amount of digital content available online doubling year-on-year, and a bewildering amount of amateur as well as professional music available to us all digitally, is the very notion of expert-driven awards outmoded?

Quite the contrary. Over-exposed as we are, ears dulled by the constant demands of music in shops, restaurants, on the radio and on the internet, this is the time when we are most in need of curated listening, as Gramophone editor James Jolly explains. “It’s wonderful to live in this age of spectacular excess but every so often you just want someone who knows their stuff to choose and play you the best music.” Far from excluding new listeners, awards like these invite them to cut straight to the good stuff, to defer the learning curve until after they’ve seen what lies at the top of it.

Setting the curve in 2013 with a winning Record of the Year was Moldovan violinistPatricia Kopatchinskaja performing concertos by Bartók, Eötvös and Ligeti. It’s a wonderful result, in large part for being so unexpected. Smart money might have been on vocal winner Jonas Kaufmann, nominee Joyce DiDonato or even Gramophone’s most-awarded artist John Eliot Gardiner. A victory for Kopatchinskaja and three 20th and 21st-century concertos is a victory for grit over polish, for challenge over comfort. This young artist is not one to mince her musical words. Sacrificing beauty for emotional engagement she risks much, and to reward this daring with a win at such an early stage in her career sends a vital message to an industry of retouchers and studio edits that truth is more valuable than the loveliest of illusions.

Gramophone’s 2013 winners – Kopatchinskaja, Gardiner, trumpeter Alison Balsom, guitarist Julian Bream among them – are serious musicians. Their job is to perform to the best of their ability, to answer eloquently in interviews and choose daringly in their repertoire. Ours is to shout about the results. Classical music itself may still escape the vulgarity of hyperbole and excess that dogs the pop music industy, but if we are to have a hope of keeping it that way then we may have to risk a little vulgarity ourselves in promoting it. I’m holding out for a Gramophone Awards ceremony with elephants, Rhinemaidens and a chorus of thousands – after all, it’s what Verdi, Wagner and Mahler would have wanted.

Julian Bream, who won a Lifetime Achievement Award at the Gramophones. Image: Getty
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The City of London was never the same after the "Big Bang"

Michael Howard reviews Iain Martin's new book on the legacy of the financial revolution 30 years on.

We are inundated with books that are, in effect, inquests on episodes of past failure, grievous mistakes in policy decisions and shortcomings of leadership. So it is refreshing to read this lively account of a series of actions that add up to one of the undoubted, if not undisputed, successes of modern ­government action.

Iain Martin has marked the 30th anniversary of the City’s Big Bang, which took place on 27 October 1986, by writing what he bills as the inside story of a financial revolution that changed the world. Yet his book ranges far and wide. He places Big Bang in its proper context in the history of the City of London, explaining, for example, and in some detail, the development of the financial panics of 1857 and 1873, as well as more recent crises with which we are more familiar.

Big Bang is the term commonly applied to the changes in the London Stock Exchange that followed an agreement reached between Cecil Parkinson, the then secretary of state for trade and industry, and Nicholas Goodison, the chairman of the exchange, shortly after the 1983 election. The agreement provided for the dismantling of many of the restrictive practices that had suited the cosy club of those who had made a comfortable living on the exchange for decades. It was undoubtedly one of the most important of the changes made in the early 1980s that equipped the City of London to become the world’s pre-eminent centre of international capital that it is today.

But it was not the only one. There was the decision early in the life of the Thatcher government to dismantle foreign-exchange restrictions, as well as the redevelopment of Docklands, which provided room for the physical expansion of the City (which was so necessary for the influx of foreign banks that followed the other changes).

For the first change, Geoffrey Howe and Nigel Lawson, at the Treasury at the time, deserve full credit, particularly as Margaret Thatcher was rather hesitant about the radical nature of the change. The second was a result of Michael Heseltine setting up the London Docklands Development Corporation, which assumed planning powers that were previously in the hands of the local authorities in the area. Canary Wharf surely would not exist today had that decision not been made – and even though the book gives a great deal of well-deserved credit to the officials and developers who took up the baton, Heseltine’s role is barely mentioned. Rarely is a politician able to see the physical signs of his legacy so clearly. Heseltine would be fully entitled to appropriate Christopher Wren’s epitaph: “Si monumentum requiris, circumspice.”

These changes are often criticised for having opened the gates to unbridled capitalism and greed and Martin, while acknow­ledging the lasting achievements of the new regime, also explores its downside. Arguably, he sometimes goes too far. Are the disparities in pay that we now have a consequence of Big Bang? Can it be blamed for the increase in the pay of footballers? This is doubtful. Surely these effects owe more to market forces, in the case of footballers, and shortcomings in corporate governance, in the case of executive pay. (It will be interesting to see whether the attempts by the current government to address the latter achieve the desired results.)

Martin deals with the allegation that the changes brought in a new world in which moneymaking could be given full rein without the need to abide by any significant regulation. This is far from the truth. My limited part in bringing about these changes was the responsibility I was handed, in my first job in government, for steering through parliament what became the Financial Services Act 1986. This was intended to provide statutory underpinning for a system of self-regulation by the various sectors of the financial industry. It didn’t work out exactly as I had intended but, paradoxically, one of the main criticisms of the regulatory system made in the book is that we now have a system that is too legalistic. Rather dubious comparisons are made with a largely mythical golden age, when higher standards of conduct were the order of the day without any need for legal constraints. The history of insider dealing (and the all-too-recently recognised need to legislate to make this unlawful) gives the lie to this rose-tinted picture of life in the pre-Big Bang City.

As Martin rightly stresses, compliance with the law is not enough. People also need to take into account the moral implications of their conduct. However, there are limits to the extent to which governments can legislate on this basis. The law can provide the basic parameters within which legal behaviour is to be constrained. Anything above and beyond that must be a matter for individual conscience, constrained by generally accepted standards of morality.

The book concludes with an attempt at an even-handed assessment of the likely future for the City in the post-Brexit world. There are risks and uncertainties. Mercifully, Martin largely avoids a detailed discussion of the Markets in Financial Instruments Directive and its effect on “passporting”, which allows UK financial services easy access to the European Economic Area. But surely the City will hold on to its pre-eminence as long as it retains its advantages as a place to conduct business? The European banks and other institutions that do business in London at present don’t do so out of love or affection. They do so because they are able to operate there with maximum efficiency.

The often rehearsed advantages of London – the time zone, the English language, the incomparable professional infrastructure – will not go away. It is not as if there is an abundance of capital available in the banks of the EU: Europe’s business and financial institutions cannot afford to dispense with the services that London has to offer. As Martin puts it in the last sentences of the book, “All one can say is: the City will survive, and prosper. It usually does.”

Crash Bang Wallop is not flawless. (One of its amusing errors is to refer, in the context of a discussion of the difficulties faced by the firm Slater Walker, to one of its founders as Jim Walker, a name that neither Jim Slater nor Peter Walker, the actual founders, would be likely to recognise.) Yet it is a thoroughly readable account of one of the most important and far-reaching decisions of modern government, and a timely reminder of how the City of London got to where it is now.

Michael Howard is a former leader of the Conservative Party

This article first appeared in the 20 October 2016 issue of the New Statesman, Brothers in blood