I found Parth Patel’s article about Labour’s tax conundrum (Lines of Dissent, 21 November) to be brilliant and incisive, and a great companion piece to Will Dunn’s piece on the bond market vigilantes (Cover Story, 21 November). As Patel intimates, the problem with our current crop of Labour leaders is the absence of such a political theory. But isn’t the deeper issue the institutions and societal norms that structurally incentivise the conveyance of such unimaginative technocrats to positions of leadership?
Lambast the Starmer-Reeves approach all you like, but it didn’t emerge from a vacuum: returning Labour to power at all costs and jettisoning any ideological commitments that might feasibly jeopardise this objective was pretty much what Starmer was selected to do. We’re now witnessing the entirely foreseeable fallout of that strategy, one whose adoption was felt at the time as imperative. Understanding why this was, and how we can avoid replicating those incentives, is critical if the centre-left is to resolve its crisis of statecraft.
Arthur Kleinman, London N7
Grumpily, but willingly
Parth Patel’s column (Lines of Dissent, 21 November) was timely, suggesting that if only Rachel Reeves would explain taxes, Starmer’s premiership could be saved. “The taxes most of us pay fund the things that most of us want,” he writes. Exactly, which is why I’ve always cheerfully paid taxes (all right, grumpily, but willingly). For years the left has allowed the idea to flourish that taxation represents theft by the government of the people’s money. Every time I hear a politician say that people should be allowed to keep more of their own money, I scream at the radio: “To use for what? Building their own hospital?” Is it too late to change the narrative?
John Filby, Ashover, Derbyshire
The bond traders that bind
Your Editor’s Note (14 November) made a plea for intellectual leadership. I was tempted to write back: sorry, Tom, that’s your job, mate. However, I thought that would have been a bit cheap. This week Will Dunn has made a good start with his excellent article on the bond markets (Cover Story, 21 November). He draws some important conclusions: the bond markets aren’t noticeably right wing; they thrive on volatility, and their conclusions will often create self-fulfilling predictions.
But what follows from these insights? Starmer and his team have made a start. I think they do have a plan, and the talent. They will need a second term to be able to demonstrate sustained improvement. The problems we face will need 50 years to address properly. The New Statesman could offer ideas from leading intellectuals on how our political leaders could get us out of this mess. Only those driven mad by desperation could think that Badenoch or Farage would deliver anything but catastrophe. As for the bond markets, we may just have to put up with their ill-informed menace and get on with the job.
Dick Brown, Buxted, East Sussex
Will Dunn’s excellent article clearly set out the UK’s precarious fiscal position. Mark Carney, when still the governor of the Bank of England, expressed the problem in a speech on June 2017: “Most fundamentally, the UK relies on the kindness of strangers at a time when risks to trade, investment and financial fragmentation have increased.” I fear that we cannot take for granted that kindness indefinitely.
Rupert Marlow, Turnastone, Herefordshire
The online standfirst of your Cover Story reads: “Governments are now [emphasis added] at the mercy of unseen investors.” But we have known this for decades. Herewith, a reminder: “You mean to tell me that the success of my programme and my re-election hinges on the Federal Reserve and a bunch of fucking bond traders?” – Bill Clinton, speaking on 7 January 1993, shortly after his election and following a meeting with his economic advisers.
David Boxall, Plovdiv, Bulgaria
Beyond the bias
I appreciated Andrew Marr’s statement that it is “juvenile to pretend there is no institutional bias” at the BBC (Reporter at Large, 14 November). As a remedy he suggested: “Young BBC reporters… try to think themselves into the minds of others, whether conservative-leaning elderly licence-payers, or indeed British Muslims, Jews, Sikhs or Christians.” How about something more radical: hiring from these groups? On a separate note, how often do we hear from young, working-class men in the New Statesman?
Amy Hammond, London NW3
Staying woke
I enjoyed Caitlín Doherty’s astute deconstruction of the idea that we are all on a butter-slide towards the feminisation of our institutions – whatever that means – as a consequence of woke ideology, whatever that means (The NS Essay, 21 November). It has been widely observed that the word “woke” has become a lazy trope with which to attack everything from anti-discrimination legislation to trendy restaurants, but the sly way in which right-wing contrarians have colonised and weaponised the word is less well known. The black American singer Lead Belly used the phrase “stay woke” as an afterword to his recording of the song “Scottsboro Boys” in 1938. He meant simply that black folks should keep their eyes open when travelling in the the Deep South of the US.
David Perry, Cambridge
Brain rot politics
Anoosh Chakelian took on the challenge of writing something seriously funny with alacrity (Bursting the Bubble, 21 November). Learning that the Treasury Select Committee was so lacking in ideas and insight as to invite Kirstie Allsopp to appear before them to assist with their enquiries was one of those occasions where you feel politicians could do with a bit more real-world experience and a lot less exposure to daytime telly.
Les Bright, Exeter, Devon
Sweet charity
In the Editor’s Note (14 November), I was struck by Alison Eldred’s comment about the need for more positive coverage. Though, from my experience of more than 40 years of doorstep campaigning, the nation is more disillusioned with politics and politicians than ever before, there are still excellent grassroots examples of people coming together to help families suffering from poverty, poor health and isolation.
A couple in my neck of the woods come to mind. The Gilesgate and Belmont Wellbeing Project delivers more than 1,000 food parcels a month. Cheesy Waffles, a registered charity, supports children, young people and adults with additional needs and learning disabilities. There will be hundreds if not thousands of similar initiatives throughout the country. Could we not have a weekly slot celebrating one one of these? The world may be going to hell in a handcart but that is no reason to jump off the cliff.
Patrick Conway, Gilesgate Moor, Durham City
Need some fresh Eire
In response to the challenge set out by Brian King to readers and to Will Lloyd (Correspondence, 14 November), I would like to suggest the Irish system of an elected president. Though it is a largely ceremonial and non-executive role, it reflects the political views of the electorate. Events 230 years ago no longer seem relevant in discarding hereditary monarchy.
Moira Sykes, Manchester
Worth a thousand words
Two birds, one letter. Firstly, I’d hoped you would, but thank you anyway, for the two pieces about the wonderful Rachel Cooke (Editor’s Note and Appreciation, 21 November), who I had the thrill of meeting a few years ago. It was her writing that spurred me on to start a subscription. Secondly, I’m so pleased you’re using such intelligent photography in the Front Pages: the neatly packaged giraffe was splendid (In the Picture, 21 November). Great writing should be partnered with such pictures; do please keep this nourishing trend going.
Richard Baker, London SE24
End of the line
I must protest – but only mildly – about Nicholas Lezard’s traducing of the 263 bus route (Down and Out, 14 November). As a native of East Finchley, the 263 is a wonderful lifeline between the Whittington and Barnet hospitals – with a weekday frequency of between seven and eight minutes. But I’ll keep reading him.
Ivor Gaber, East Finchley
Lezard will continue to wait for the 243 to arrive at East Finchley. Its route is Wood Green to Waterloo, in case he needs it.
Caroline Holmes, London N17
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This article appears in the 26 Nov 2025 issue of the New Statesman, The Last Stand