Skip to main content
The mill stone around contemporary Britain’s neck
A wealth of information is let down by the final conclusions, writes WILL PODMORE
DOGMATIC MONOLITH: The Treasury building in London

Bankruptcy, bubbles and bailouts: The inside history of the Treasury since 1976
by Aeron Davis
Manchester University Press £16.99


THIS is a splendid survey of a key department of state. The Treasury dominates the state machine.

What is its purpose? The record shows that it consistently opposes our national industries, regional development, central planning, and much-needed infrastructure projects.

By contrast it always gives foreign companies incentives to move to Britain — regional development aid, free enterprise zones, free ports. It backs international finance against national industry.

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
A MAN FOR ALL SEASONS: (L to R) Church of St Mary Magdalene
Books / 13 March 2025
13 March 2025
WILL PODMORE recommends an excellent and useful introduction to a lesser-known giant of the scientific revolution in Britain
EVOLUTION OF GOTHIC FROM ISLAMIC: Arches of the former mosqu
Books / 5 February 2025
5 February 2025
WILL PODMORE is enthralled by the convincing case that guilds of Islamic craftsmen were responsible for the European gothic style
GROOMED TO RULE: Eton College pupils taking part in the ‘P
Books / 5 January 2025
5 January 2025
WILL PODMORE is intrigued by a study the British ruling class that follows statistical analysis with totally inadequate proposals for change
RATIONAL FUTURE: Passenger and freight train on the West Coa
Books / 6 December 2024
6 December 2024
WILL PODMORE welcomes a demonstration of the incomparable virtues of rail travel, and the political obstacles to realising its potential 
Similar stories
Rachel Reeves and her Treasury team prepare to leave 11 Down
Features / 22 February 2025
22 February 2025
In his first of a new monthly economics column MICHAEL BURKE argues that public-sector investment is more effective, more productive than private-sector investment
Features / 1 January 2025
1 January 2025
GAWAIN LITTLE argues that the prolonged economic crisis we have been experiencing presents opportunities for a working-class fightback
Prime Minister Sir Keir Starmer and Chancellor of the Excheq
Books / 27 September 2024
27 September 2024
Where is the political programme for a plausible project of renewing Britain through public investment, asks WILL PODMORE
WHERE ALL THAT IS SOLID MELTS INTO AIR: London HQ of HSBC, t
Books / 5 September 2024
5 September 2024
WILL PODMORE is intrigued by an analysis of capital that emphasises the deadening impact of financialisation on the US and UK economies