Celebrating the New Statesman's biggest-ever issue

A hundred years on, the magazine is the best it's ever been.

The New Statesman was launched 100 years ago today and, as we celebrate with the publication of our centenary issue which is now on sale across the country, I’m naturally delighted that our latest scoop is dominating the political news as well as newspaper front pages.

One of the many pleasures of my job is being able to publish some of my favourite writers, politicians and journalists in the magazine. Very few people say no when the New Statesman asks them to write – and that’s very satisfying for a small magazine and website.

This week’s centenary issue is the BIG ONE in every sense, the single largest we have published in our long history. Among the political highlights are a wonderful, generously spirited column from Boris Johnson; a bold intervention from Tony Blair, which has been making the political weather and unsettling the Labour high command; a good column by Vince Cable discussing his political journey and the tensions that exist on the left between liberals and social democrats; and a fine piece by our political editor, Rafael Behr, who was travelling on a train with Ed Miliband when the Labour leader was told that Margaret Thatcher had died.

The New Statesman has been rethought and reinvigorated over the last few years. We have broadened our range and collaborated with some unexpected and interesting people. We have reintroduced cartoons, poetry and fiction. We have drawn influence from our Fabian tradition but also from J M Keynes, who was our chairman in the 1930s – it is often forgotten that in 1931 the New Statesman merged with the Nation, the old voice of Bloomsbury social liberalism. I am confident – forgive my immodesty! - that the New Statesman is now the best-written and most intellectually stimulating magazine in Britain.

As if to prove my point, we have, in the centenary issue, contributions from Booker Prize-winning novelists (Julian Barnes, A S Byatt) as well as from many other major literary writers, including Craig Raine, Alexander McCall Smith, David Hare, Will Self and Ali Smith. We have tremendously wide-ranging essays on geopolitics, the European ideal and economics from John Gray, Mark Mazower and Robert Skidelsky. We have published some centenary clerihews from the incomparable Craig Brown. There’s a very funny column from the stand-up comedian Stewart Lee and, as usual, outstanding cultural criticism and book reviews by the likes of Will Hutton, Norman Stone, Douglas Hurd, Jon Cruddas and our brilliant young fiction critic, Leo Robson.

We also include articles from the archive by Keynes, T S Eliot, George Orwell, Virginia Woolf, Graham Greene and Angela Carter. And in the “Orwell Wars”, D J Taylor and Adrian Smith tell the story of how and why the New Statesman refused to publish the great political writer’s reports from the Spanish civil war (not one of our more glorious moments).

Next week we are hosting our latest Centenary Debate. The question is, “Did the left win the 20th century?” Michael Gove, David Miliband, Lisa Nandy, Justin Webb, Matthew Parris, Mathew d’Ancona, Jonathan Freedland, Peter Oborne and Andrew Rawnsley are among those who attempt to answer the question in the magazine. (All contributions will go live on our website next week, ahead of the debate. And thanks to everyone for taking part.)

All in all, it’s a collector’s issue. Do buy it.

And here, from the magazine, is my Editor’s Note, which explores something of the history of the New Statesman.

 

Jason Cowley is editor of the New Statesman. He has been the editor of Granta, a senior editor at the Observer and a staff writer at the Times.

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Scotland's vast deficit remains an obstacle to independence

Though the country's financial position has improved, independence would still risk severe austerity. 

For the SNP, the annual Scottish public spending figures bring good and bad news. The good news, such as it is, is that Scotland's deficit fell by £1.3bn in 2016/17. The bad news is that it remains £13.3bn or 8.3 per cent of GDP – three times the UK figure of 2.4 per cent (£46.2bn) and vastly higher than the white paper's worst case scenario of £5.5bn. 

These figures, it's important to note, include Scotland's geographic share of North Sea oil and gas revenue. The "oil bonus" that the SNP once boasted of has withered since the collapse in commodity prices. Though revenue rose from £56m the previous year to £208m, this remains a fraction of the £8bn recorded in 2011/12. Total public sector revenue was £312 per person below the UK average, while expenditure was £1,437 higher. Though the SNP is playing down the figures as "a snapshot", the white paper unambiguously stated: "GERS [Government Expenditure and Revenue Scotland] is the authoritative publication on Scotland’s public finances". 

As before, Nicola Sturgeon has warned of the threat posed by Brexit to the Scottish economy. But the country's black hole means the risks of independence remain immense. As a new state, Scotland would be forced to pay a premium on its debt, resulting in an even greater fiscal gap. Were it to use the pound without permission, with no independent central bank and no lender of last resort, borrowing costs would rise still further. To offset a Greek-style crisis, Scotland would be forced to impose dramatic austerity. 

Sturgeon is undoubtedly right to warn of the risks of Brexit (particularly of the "hard" variety). But for a large number of Scots, this is merely cause to avoid the added turmoil of independence. Though eventual EU membership would benefit Scotland, its UK trade is worth four times as much as that with Europe. 

Of course, for a true nationalist, economics is irrelevant. Independence is a good in itself and sovereignty always trumps prosperity (a point on which Scottish nationalists align with English Brexiteers). But if Scotland is to ever depart the UK, the SNP will need to win over pragmatists, too. In that quest, Scotland's deficit remains a vast obstacle. 

George Eaton is political editor of the New Statesman.