William Reeve

Artists and promoters will charge more, there will be more rationing, more unsold seats and countless consumers will go disappointed who were willing to pay more.

Artists don’t have the systems that resellers have. Those systems help consumers, promoters and artists by finding the providing better market mechanisms, segmenting audiences and so on. Promoters and artists are guessing, in a one shot game. Resellers fix their mistakes.

If you don’t allow markets to set prices you get rationing. Which is not fair on consumers either, especially those with willingness to pay more. Touts give artists and promoters a cut, without which they will charge more.

The concept of market failure is trotted out far too easily. Liberalising the market for reselling tickets would balance demand and supply far more equitably. Artists talk out of both sides of their mouth and audiences will suffer - differently - under a ban.

The latest example of a UK government screwing with market forces. Markets solve problems better than the alternatives, especially governments.

Wise words, as usual, from Sir John Major

Great graph in FT putting the lie to the myth that welfare costs are bankrupting us

Congratulations to Cambridge University, up to 3rd this year.

Hats off to Lime (and Forest) bikes last week during London's tube strike. Good piece by ££FT on.ft.com/3V5Cp31

Agreed that Muellbauer makes a lucid case. My cynical side fears though that the extra taxes would be applied and the drops in taxes (notably stamp duty, the existing property taxes on wealth) would be ignored.

The latest tax kite to be flown, creating yet more uncertainty and hitting confidence/growth - this time amidst the 2m+ private landlords in the UK

Excellent piece by Ganesh.

I particularly like "Round-the-clock misery and self-recrimination combined with coyness about the biggest thing that Britain has done this century: that is modern Conservatism to a dishonest tee."

JPMorgan spooks fintechs with plans to charge for access to customer data Start-ups say having to pay for consumer’s financial information would run them out of business

JPMorgan spooks fintechs with plans to charge for access to customer data https://on.ft.com/456eqVJ

Hear hear, President Macron. Much as we tease our French friends as we tease siblings, if France is lost, we Brits lose everything.

UK should not give EU 'domestic' status for its universities. UK has several unis that are better than all EU unis, but the domestic £9k fee loses money and is subsidised. A better suggestion - allow EU students 4 years not the proposed 2, so they can complete a degree.

Next time I get a cold, I'm going to betray it by having a Lemsip and some ibuprofen.

Can't believe Starmer is about to betray Brexit when it has all been going so well.

Great article on the prospect of ISA reforms by FT's excellent Claer Barrett. www.ft.com/content/4f8d... This para in particular is spot on:

Hilarious

Loved this £FT article. Especially the final point about foreigners all speaking English, and hearing the Jacob Rees-Mogg/David Davis/etc quotes and thinking 'screw you'

Excellent post on $AUGM here theoakbloke.substack.com/p/an-augm-ente… - who needs equity analysts after all?

They're really putting the FFS into tariffs is what they're doing

R.I.P. Henry Kelly, broadcaster, journalist, neighbour and friend. A brilliant storyteller with a quick wit and an amazing memory. We had many good times together, particularly at the Old Bull & Bush in NW3.

Some City folk are pushing to scrap the cash ISA. Personally I am in favour of @fideinvest.bsky.social 's proposal, as described in the FT.

Gotta say, I am loving the @octopus.energy usage charts on its Cosy Octopus tariff (which is a bit like a very fancy version of Economy 7 - see how the price varies during the day - thin left hand line on multicoloured graph). I am saving about 16%.

Lovely thread by my first business partner, truly an OG. Make sure you get to the end....

Anna making a pretty persuasive case as to why we should be thinking about customs policy.

Whether a man or not, the next chancellor won't repeatedly and unnecessarily box in the government and the Chancellor him/herself. Most of the reputational damage/risk is from unforced errors - breaking unnecessary pledges

Interesting piece about why Trump wants Greenland. But it misses what I wonder whether may be the main reason... To provide leverage against Putin on Ukraine? I.e. I'll drop claims on Greenland if you quit Ukraine

A lot of rich parents are very upset at the government for charging VAT on private school fees. Maybe they should instead ask why private schools have put up fees so far above inflation over the past 15 years. www.ft.com/content/852b...