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The new ruling class

If the polls are to be believed, the Conservative Party is heading for government in 2010, ending 13 years in the political wilderness. So who are the men, and women (yes, there are one or two), jostling for power around Prime Minister Cameron?

David Cameron, 43

Leader of the Conservative Party
Education Eton College. Oxford University
Wealth £3.2m*
Expected to inherit million-pound legacies from both sides of his family, David Cameron comes from a long line of stockbrokers. A direct descendant of King William IV, he is the fifth cousin twice removed of Queen Elizabeth II, and reportedly got his first job in the Conservative Research Department after one of the Queen's equerries intervened on his behalf. A former member of Oxford's notorious Bullingdon Club, Cameron - who said that the large expenses claimed on his constituency home were an "inadvertent mistake" - was described by Norman Lamont as a "brilliant Old Etonian with a taste for the good life".

* This and other wealth figures are estimates

George Osborne, 38
Shadow chancellor
Education St Paul's School, London. Oxford University
Wealth £4.3m
George Gideon Osborne stands to inherit the Osborne baronetcy of Ballentaylor in County Tipperary, Ireland, as well as a substantial share of Osborne & Little, his father's luxury wall­paper company. Not that he needs the money - he already benefits from a company trust fund, and as a backbencher commanded fees of up to £5,000 per article for the Spectator and Associated Newspapers. A former member of the Bullingdon Club, he is very much part of the old boy network, as shown by last year's scandal involving Osborne, his old friend Nat Rothschild, Russian oligarch Oleg Deripaska and a yacht in Corfu.

Oliver Letwin, 53
Chairman of the Conservative Party's Policy Review/Research Department
Education Eton College. Cambridge University
Wealth £1.5m
Despite earning £145 an hour for consultancy work at N M Rothschild & Son, Oliver Letwin claimed £2,000 in parliamentary expenses to replace a leaking pipe in his tennis court. He once said he would rather "go out in the streets and beg" than send his children to a London comprehensive, and during the 2001 election argued that the Conservatives should cut future public spending by £20bn a year relative to Labour proposals. His suggestion was so unpopular that he was forced to stay out of the public eye for the duration of the campaign.

Andrew Lansley, 53
Shadow health secretary
Education Brentwood School, Essex. Exeter University
Wealth £700,000
Andrew Lansley, who earns an extra £29,000 a year for 12 days' work at a marketing agency, spent more than £4,000 of taxpayers' money renovating his country home months before he sold it and flipped his expenses claim to his London flat, where he spent thousands more. Last year, Lansley caused outrage with a blog entry on the Conservative Party website arguing that a recession could be "good for us", as people could "spend time at home with their families". The potential future health secretary also has some insight into obesity, saying that "people who see more fat people around them may themselves be more likely to gain weight".

David Willetts, 53
Shadow universities and skills manager
Education King Edward VI, Birmingham. Oxford University
Wealth £1.9m
David Willetts makes £80,000 a year from 40 days' work as adviser to Punter Southall, and is also paid as chairman of Universal Sensors Ltd, but he still tried to claim £750 for a shed base and £175 for a dog pen on expenses last year.

Francis Maude, 56
Shadow minister for the Cabinet Office/ chancellor of the Duchy of Lancaster
Education Abingdon School, Oxfordshire. Cambridge University
Wealth £3m
Francis Maude, a former director of Morgan Stanley, juggles an array of non-executive financial positions. These bring him £68,600 a year, but luckily don't require too many hours - Barclays pays him £36,700 for six days' work. Maude, who has railed against the irresponsibility of mortgage lenders, banked £100,000-plus as director of a financial services group that profited from sub-prime mortgages. Despite owning four properties, he claimed almost £35,000 in two years for interest payments on a London flat just yards from his house.

Michael Gove, 42
Shadow schools secretary
Education Robert Gordon's College, Aberdeen. Oxford University
Wealth £1m
A self-proclaimed neoconservative and former journalist, Michael Gove still writes a weekly column for the Times, which pays him £5,000 a month. Gove has boasted that it takes him an hour a week to write it. This makes his hourly wage more than £1,100 - 127 times higher than the average salary in his constituency, Surrey Heath. He tops this up through contributions to other titles, including Scotland on Sunday and Building Magazine. Gove is a signatory to the Henry Jackson Society, a "project for democratic geopolitics" that advocates a proactive approach to spreading democracy, by military intervention if necessary. Last year, he described the invasion of Iraq as "a proper British foreign policy success".

Liam Fox, 48
Shadow defence secretary
Education St Bride's High School, East Kilbride. Glasgow University
Wealth £1m
Fox, a former GP, may lambast the public sector for its inefficiencies and "bloated administration", but he is not so thrifty himself. Despite earning £25,000 a year by lecturing for the medical educational firm Arrest Ltd (14 days' work), he claimed almost £19,000 of taxpayers' money for his mobile phone bill. A staunch Eurosceptic and strong believer in the "special relationship" with America, Fox said recently a Conservative government would be "sympathetic" to a request for thousands more troops in Afghanistan.

Andrew Mitchell, 53
Shadow international development secretary
Education Rugby School. Cambridge University
Wealth £2m
Mitchell, an ex-merchant banker racks up £43,500 every year for financial advisory and consultancy roles that involve a few hours' work each week, as well as owning shares worth up to £180,000. But it's obviously not enough - last year he claimed more than £21,000 for cleaning and redecorating his constituency home. In 2004 he asked the Commons Fees Office to pay him £2,000 a month from his MPs' additional cost allowance "until it is exhausted". Mitchell said last year that the recession was an "incredibly good moment" for the party.

Caroline Spelman, 51
Shadow communities and local government secretary
Education Herts and Essex Grammar School, Bishop's Stortford, Essex. University of London
Wealth £1.5m
Caroline Spelman co-owns Spelman, Cormack & Associates, a food and biotechnology business, with her husband. They also own three properties, including a four-storey Georgian townhouse in London, with an estimated combined value of £5m. In 1997-98, she misused the parliamentary staffing allowance to pay her nanny. The expenses revelations this year showed that she received £40,000 for bills and cleaning for her constituency home, despite her husband claiming it was their main home. In 2005, she attacked proposals on revaluing council tax. Ironically enough, for the 2007-2008 financial year she overclaimed hundreds of pounds on her own council tax.

Lord Strathclyde, 49
Leader of the opposition in the Lords
Education Wellington College. University of East Anglia
Wealth £10m
The majority shareholder in the family estate management company Auchendrane Estates, worth roughly £6m, Lord Strathclyde holds down a plethora of paid directorships for hedge funds and investment companies. One of them is Galena, the investment management arm of Trafigura, a controversial oil trader recently found to be dumping toxic waste in Africa. He said that Trafigura's other activities fell "well outside the terms of my remit".

William Hague, 48
Shadow foreign secretary
Education Wath-on-Dearne Comprehensive School, Rotherham. Oxford University
Wealth £2.2m
Earning up to £10,000 for an appearance, Hague is a stalwart of the Conservative after-dinner speaking circuit. As a non-executive director of JCB, he was paid £50,000 a year and went on to a directorship at AES Engineering, receiving £25,000 a year. He has been paid up to £1,041 an hour for his consultancy work, a wage rate 113 times higher than the average among his constituents in Richmond, Yorkshire. Hague reportedly threatened to walk out when Cameron suggested forcing the shadow cabinet to give up second jobs.

Chris Grayling, 47
Shadow home secretary
Education Royal Grammar School, High Wycombe, Buckinghamshire. Cambridge University
Wealth £500,000
Chris Grayling, worth only half a million, is a real man of the people. The proprietor of four London homes, he still billed a £40,000 second-home refurbishment to the state. So in touch is the former BBC producer with the reality of life in Britain, that he compared the country's streets to those of Baltimore on the US television drama The Wire, and came up with the idea of deterring young criminals by taking away their mobile phones.

Lord Ashcroft, 62
Conservative Party deputy chairman
Education Royal Grammar School, High Wycombe, Buckinghamshire. Mid-Essex Technical College
Wealth £1.1bn
Lord Ashcroft, the Tories' fairy godmother, has donated millions to the Conservative Party since the 1980s, personally guaranteeing its overdraft when it was reportedly £3m in the red. He makes a habit of political donation, and has been accused of wielding undue political influence in Belize, where he has extensive business interests. He does not say whether he pays tax in the UK, and the Electoral Commission is investigating whether his company fits strict rules on overseas donations.

Dominic Grieve, 53
Shadow justice secretary and shadow attorney general
Education Westminster School, London. Oxford University
Wealth £3.1m
A barrister and QC, Dominic Grieve supplements his income with shareholdings in 13 firms, most notably with £240,000 worth of shares in companies operating in Zimbabwe. Apparently £3.1m doesn't go very far towards keeping a second home - Grieve was forced to bill the government £18,668 in maintenance costs last year. A traditionalist who has voted against bills promoting gay rights, he has praised the Victorian era for its "sense of moral values".

Philip Hammond, 53
Shadow chief secretary to the Treasury
Education Shenfield School, Brentwood, Essex. Oxford University
Wealth £9m
Hammond enjoys a lucrative directorship at Castlemead Property, in which he has shares worth £4.9m, but that didn't stop him claiming £23,075 - £8 short of the maximum - for his second home in London. He now promises to oversee swingeing cuts in public spending in an emergency post-election budget. He has said it is "absolutely not the case" that public-sector workers are dreading cuts, feeling instead a "sense of liberation".

Owen Paterson, 54
Shadow Northern Ireland secretary
Education Radley College. Cambridge University
Wealth £1.5m
Paterson, married to the 4th Viscount Ridley's daughter, owns a large country estate in his North Shropshire constituency (he voted strongly against the hunting ban). He is a member of the Cornerstone Group, which published a report describing the NHS as "Stalinist" and calling for it to be replaced.

Jeremy Hunt, 42
Shadow culture, media and sport secretary
Education Charterhouse School. Oxford University
Wealth £4.1m
Hunt is paid £1,000 a month for two hours of business advice to Hotcourses Ltd, an educational guide publisher, and enjoyed a £245,181 dividend payment from the company in 2006. He still felt hard-pressed enough to submit an invoice for 1p for a 12- second mobile phone call.

Gregory Barker, 43
Shadow minister for energy and
climate change
Education Steyning Grammar School, West Sussex. Royal Holloway, University of London
Wealth £3.9m
Gregory Barker, a former adviser to the Russian billionaire and Chelsea FC owner Roman Abramovich, reportedly made millions when he sold his stake in a recruitment advertising firm, and continues to rake in cash as director of Flare View, a property investment company, and as an adviser for Pegasus Capital Advisors. He made a £320,000 profit in just over two years by using the second-home allowance
to buy and sell a house in the exclusive borough of Chelsea, in central London.

Philip Dunne, 51
Conservative whip/deputy chairman
Education Eton College. Oxford University
Wealth £5m
Dunne, a super-rich backbencher has had a 20-year career spanning investment banks in London, New York and Hong Kong, as well as Ottakar's bookshop, which he co-founded. The son of Sir Thomas Dunne, the Lord Lieutenant of Hertfordshire, he has done all this while looking after the family farming estate.

Brooks Newmark, 51
Conservative whip
Education Bedford School, Bedfordshire. Harvard University. Oxford University
Wealth £3.2m
Yet another Conservative MP with a high-flying background in the world of finance, Brooks Newmark held a senior role at Lehman Brothers, and spent eight years at a British merchant bank. He now owns the investment firm Telesis Management and has shares in two other investment firms, from which he gets undisclosed payments.

Zac Goldsmith, 34
Conservative parliamentary candidate
Education Eton College (expelled). Cambridge Centre for Sixth-Form Studies
Wealth £300m
Son of Sir James Goldsmith and his third wife, Lady Annabel Vane-Tempest-Stewart, Frank Zacharias Robin Goldsmith is an environmentalist and socialite. An odd combination, perhaps, but both grandfathers were Conservative MPs, so he is walking a well-trodden path.

Michael Spencer, 53
Conservative Party treasurer
Education Worth Abbey, West Sussex. Oxford University
Wealth £250m
A close friend of Cameron's, Spencer owns a 21 per cent stake worth £474m in the money broker Icap, which he set up in 1986. He was caught up in controversy last year when it emerged he had pledged his stake in the investment bank Numis as security for a loan, a legal grey area. When he did sell his shares, he made only £16m - a third of what he would have gained in 2006 when shares were at their peak. It's a hard life.

Research by Samira Shackle, Stephanie Hegarty and George Eaton

This article first appeared in the 05 October 2009 issue of the New Statesman, The tories/the people

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The New Times: Brexit, globalisation, the crisis in Labour and the future of the left

With essays by David Miliband, Paul Mason, John Harris, Lisa Nandy, Vince Cable and more.

Once again the “new times” are associated with the ascendancy of the right. The financial crash of 2007-2008 – and the Great Recession and sovereign debt crises that were a consequence of it – were meant to have marked the end of an era of runaway “turbocapitalism”. It never came close to happening. The crash was a crisis of capitalism but not the crisis of capitalism. As Lenin observed, there is “no such thing as an absolutely hopeless situation” for capitalism, and so we discovered again. Instead, the greatest burden of the period of fiscal retrenchment that followed the crash was carried by the poorest in society, those most directly affected by austerity, and this in turn has contributed to a deepening distrust of elites and a wider crisis of governance.

Where are we now and in which direction are we heading?

Some of the contributors to this special issue believe that we have reached the end of the “neoliberal” era. I am more sceptical. In any event, the end of neoliberalism, however you define it, will not lead to a social-democratic revival: it looks as if, in many Western countries, we are entering an age in which centre-left parties cannot form ruling majorities, having leaked support to nationalists, populists and more radical alternatives.

Certainly the British Labour Party, riven by a war between its parliamentary representatives and much of its membership, is in a critical condition. At the same time, Jeremy Corbyn’s leadership has inspired a remarkable re-engagement with left-wing politics, even as his party slumps in the polls. His own views may seem frozen in time, but hundreds of thousands of people, many of them young graduates, have responded to his anti-austerity rhetoric, his candour and his shambolic, unspun style.

The EU referendum, in which as much as one-third of Labour supporters voted for Brexit, exposed another chasm in Labour – this time between educated metropolitan liberals and the more socially conservative white working class on whose loyalty the party has long depended. This no longer looks like a viable election-winning coalition, especially after the collapse of Labour in Scotland and the concomitant rise of nationalism in England.

In Marxism Today’s “New Times” issue of October 1988, Stuart Hall wrote: “The left seems not just displaced by Thatcherism, but disabled, flattened, becalmed by the very prospect of change; afraid of rooting itself in ‘the new’ and unable to make the leap of imagination required to engage the future.” Something similar could be said of the left today as it confronts Brexit, the disunities within the United Kingdom, and, in Theresa May, a prime minister who has indicated that she might be prepared to break with the orthodoxies of the past three decades.

The Labour leadership contest between Corbyn and Owen Smith was largely an exercise in nostalgia, both candidates seeking to revive policies that defined an era of mass production and working-class solidarity when Labour was strong. On matters such as immigration, digital disruption, the new gig economy or the power of networks, they had little to say. They proposed a politics of opposition – against austerity, against grammar schools. But what were they for? Neither man seemed capable of embracing the “leading edge of change” or of making the imaginative leap necessary to engage the future.

So is there a politics of the left that will allow us to ride with the currents of these turbulent “new times” and thus shape rather than be flattened by them? Over the next 34 pages 18 writers, offering many perspectives, attempt to answer this and related questions as they analyse the forces shaping a world in which power is shifting to the East, wars rage unchecked in the Middle East, refugees drown en masse in the Mediterranean, technology is outstripping our capacity to understand it, and globalisation begins to fragment.

— Jason Cowley, Editor 

Tom Kibasi on what the left fails to see

Philip Collins on why it's time for Labour to end its crisis

John Harris on why Labour is losing its heartland

Lisa Nandy on how Labour has been halted and hollowed out

David Runciman on networks and the digital revolution

John Gray on why the right, not the left, has grasped the new times

Mariana Mazzucato on why it's time for progressives to rethink capitalism

Robert Ford on why the left must reckon with the anger of those left behind

Ros Wynne-Jones on the people who need a Labour government most

Gary Gerstle on Corbyn, Sanders and the populist surge

Nick Pearce on why the left is haunted by the ghosts of the 1930s

Paul Mason on why the left must be ready to cause a commotion

Neal Lawson on what the new, 21st-century left needs now

Charles Leadbeater explains why we are all existentialists now

John Bew mourns the lost left

Marc Stears on why democracy is a long, hard, slow business

Vince Cable on how a financial crisis empowered the right

David Miliband on why the left needs to move forward, not back

This article first appeared in the 22 September 2016 issue of the New Statesman, The New Times