Morning Call: pick of the papers

The ten must-read commment pieces from this morning's papers.

1. US has been let down by its leadership (Financial Times)

A deal that extends unsustainable tax cuts for 98 per cent of Americans is no victory, says Nouriel Roubini.

2. Iain Duncan Smith's polemic is politics at its most cynical (Guardian)

How does the secretary of state's conceit, that in-work benefit claimants are fraudsters, serve the public interest, asks Zoe Williams.

3. Cosy up to China – are you sure about that? (Times) (£)

It’s easy to envy the boom, but as Beijing’s influence spreads around the globe we must confront the human cost, says David Aaronovitch.

4. We can end the elderly care lottery (Guardian)

Means-testing winter fuel payments could prevent old people losing their assets and their dignity, argues Paul Burstow.

5. Let taxpayers share rail fare pain (Independent)

More effort must be made to spread the investment costs more widely, says an Independent editorial.

6. Britain would vote to stay in the EU (Financial Times)

The UK electorate would almost certainly opt for the status quo, writes Gideon Rachman.

7. Fighting back against the left-wing guerrillas (Daily Telegraph)

Foes of public sector reform are waging war at a local level – they must be roundly beaten, says Sean Worth.

8. America could still go over the cliff — and take the rest of us with it (Daily Mail)

The American people, and, indeed, the rest of the world, urgently need to revise their view of how economically strong this ailing superpower really is, says Simon Heffer.

9. Christopher Martin-Jenkins: we're all the poorer for his passing (Daily Telegraph)

Our institutions need many more 'outsiders’ with the enthusiasm and knowledge of Christopher Martin-Jenkins, says Peter Oborne.

10. Cosmetic surgery is bad. That women feel the need for it is worse (Independent)

Now even the British Association of Aesthetic Plastic Surgeons is demanding change, writes Mary Ann Sieghart.

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George Osborne takes up job at BlackRock - but what does it mean for politics?

The former Chancellor insists he hasn't forgotten about the Northern Powerhouse.

George Osborne is to take up a part-time role at asset management giant BlackRock.

The former Chancellor is understood to have been hired by the chief executive of the world's biggest investor, Larry Fink. He will be working alongside his former economic adviser Rupert Harrison.

The appointment has been approved by the Independent Appointments Committee and Osborne intends to continue as a backbench MP.

He said: "I am excited to be working with the BlackRock Investment Institute as an adviser. BlackRock wants better outcomes for pensioners and savers - and I want to help them deliver that. It's a chance for me to work part-time with one of the world's most respected firms and a major employer in Britain. 

"The majority of my time will be devoted to being an MP, representing my constituents and promoting the Northern Powerhouse.  My goal is to go on learning, gaining new experience and get an even better understanding of the world."

Once tipped as a future Prime Minister, Osborne's career ambitions were stymied after he backed Remain in the EU referendum and was sacked in Theresa May's Cabinet reshuffle. Whether he will find the halls of fund managers more comfortable than the green back benches is yet to be seen, but for now he has been clear he intends to continue his constituency duties. 

He will work at the BlackRock Investment Institute, which researches geopolitical, technological and economic trends. 

He is expected to provide insights on European politics and policy, Chinese economic reform, and trends such as low yields and longevity and their impact on retirement planning. 

While the pay packet has not been officially confirmed, Sky News quoted a source saying it would be hundreds of thousands of pounds.

But the move will also place a pro-Remain former Chancellor at the heart of the City of London, just as his Tory front bench is losing its support over Brexit negotiations.

Speaking shortly after the EU referendum vote, BlackRock chief executive Fink said he "didn't get a lot of sleep" the night of Brexit, and that the decision had led to greater uncertainty. 

 

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.