The strategists of British capitalism are getting jittery. Even the Chancellor of the Exchequer, Philip Hammond, is worried. Capitalism is having a bad time of it. Conservatives, he said, should continue to make the case for the market economy — a model which had evolved “down the ages”. “This mission is urgent,” he stated recently. But why the urgency?

It’s been a turbulent time for the aviation industry recently. And now another airline looks unlikely to weather the storm. Flybe is up for sale, with the regional air carrier calling in accountants from KPMG in an attempt to save itself from collapse. Half-year profits have plunged and the company’s auditor, PwC, warned of “significant doubt” over its future. KPMG's involvement should have instantly set alarm bells ringing, as they were also the administrator of Monarch Airlines last year.

Finally, after months of fraught negotiations, the UK-EU negotiators have come up with a proposed deal. Written on the side, however, are instructions: light the blue touchpaper and stand well clear. All hell is about to break loose. From the point of view of big business, the draft deal is not too bad, tying the British economy to Europe. But for Tory Brexiteers, in particular, the deal is toxic.

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