Sky darkens for Brown
Next years election gathers weight and provides an interesting backdrop to more of the same in the financial markets this week
As the recession (and the mood) appears to further entrench itself, it was no surprise when BSkyB announced their fastest sign-up of new subscribers for five years in 2009. People want to stay at home these days.
It’s no wonder when the outside world is full of such predictable news, such as Royal Dutch Shell posting a 70 percent fall in net profit in the second quarter. Oil prices and refining margins have tumbled, even though foreign exchange gains meant that RBS did at least beat forecasts.
As next year’s national elections loom ever closer, the head of the Iraq war inquiry Jon Chilcot announced that former Prime Minister Tony Blair will be asked to testify to a panel. “The people we invite to give evidence will be those we judge... are best placed to supply the information we need to conduct our task thoroughly.”
The former civil servant continued: “That will, of course, include the former prime minister and other senior figures involved in decision taking.” Is this accountability in its true form or will a smokescreen prevent the results being made as public as they could be (live-streaming on the Internet at best)? We’ll have to wait and see.
A seminal moment happened this week when the law lords gave judgement for the last time in the House of Lords. From October, the law lords will instead become Justices of the Supreme Court as dictated by the Constitutional Reform Act 2005.
Is this move merely cosmetic and is it necessary? Well, the conflation between legal and political was ever blurring. By 2005, the law lords rarely contributed to debates and certainly didn’t vote. The heady days of Lord Denning’s personality-judgments (and greater involvement) had long passed. The European Court of Human Rights made its authority known, and the roles were further blurred. The definitions, purposes and fine lines because less visibly clear.
Whether the birth of a modern supreme court was the solution is yet to be seen, but charges of geographical confusion can at least now be tempered. No wigs, no gowns, just suits. Is this the future? Guess we’ll find out next week.
