It means the end of the middle class. And, as a consequence, majoritarian democracy. In a sensible media landscape that’s a *centre right* argument.

This is awful. The last ever Denby Pottery going to the kiln. Why is there not uproar? Where’s the government in this?? We all have Denby in our homes, in family heirlooms, as our history and now it’s closing through lack of support, such a sad sad day. #SaveDenby @denbypottery

🚨 NEW: The second Makerfield by-election poll 🔴 LAB - 49% ( 6) ➡️ REF - 39% (-1) 🟣 RES - 8% ( 1) 🟢 GRN - 2% (-1) 🟠 LD - 1% (-3) 🔵 CON - 1% (-1) ⚪ OTHER - 1% (=) Via Survation, 518 sample, 26 May - 1 June

Utterly embarassing from Rob Kenyon. What he clearly doesn't know is Labour MP Josh Simons confirmed just over a week ago that this library would be reopened and work is starting soon, following a 6 month campaign by Labour Councillor Christopher Ready. What total numpties Rob and Zia are.

3. In a twist, people really seem to like Josh Simons. Across groups people can point to things he's done, interactions they've had on issues like flooding/development - no other group in a seat occupied by a member of the 24 intake as the local MP got that level of praise.

The framing of the bond markets we get from politicians is totally mad. And shows how little they understand about the mechanics of how the nation finances its deficits. They seem to think that the bond markets are essentially a small group of evil billionaires sat in a room scheming to influence public policy. This is bullshit. In reality, they’re made up of people and institutions the government are asking to lend them money… pension funds, insurers, your gran’s retirement pot, the Bank of England, overseas central banks holding sterling, and so on. A lot of people are involved in these markets. When politicians say they’re “in hock” to the bond markets. What they’re referring to is the fact that they borrow money from the market and have to pay bond holders back with interest. The participants in the market will buy bonds when the yield on the bonds adequately covers the perceived risk of holding the bonds, and provides a modest expected return to make it worthwhile. They’re not scheming, they’re just pricing inflation and interest rate risk. Our debt carries a higher risk premium than other core economies like Germany, because of specific structural problems and a credibility deficit on spending. And a lot of that demand isn’t even a choice. Pension funds and insurers are required to hold gilts to match their liabilities. So your gran’s retirement pot is quietly propping up the very market these politicians claim to be fighting. The supposed alternative is to balance the budget so you don’t need to borrow. If you don’t want to be “in hock” to the bond markets, don’t borrow money from them. Except even that wouldn’t free us, because we still have to roll over the existing debt as it matures. Escaping the market entirely would mean running surpluses for decades, which would take spending cuts or growth we haven’t got. So the government borrows. And here’s the tell... a lot of politicians half admit it. They’ll say, as Polanski does here, the markets “just want to know there’s a plan.” Yeah, absolutely. So the problem was never the market. It’s that our politicians haven’t got a credible plan. So when you hear politicians complaining about the bond markets, what they’re really complaining about is the fact that they can’t borrow endlessly to fund all the mad shit they want to do.

‘It may be noble puppeteering, but it’s still puppeteering.’ @Lewis_Goodall questions Labour’s Josh Simons over his decision to stand down as the MP for Makerfield, triggering a by-election for Andy Burnham to contest.

Will Self is misinformed! He’s got his ‘smack’ and ‘scraps’ barm mixed up. Do better.

Greater Manchester Mayor Andy Burnham has set out his views on Labour's path forward and the policy challenges facing the country. Speaking to Channel 4 News' Andrew Misra, Burnham said he wanted Labour to become “a party that they can believe in again, a party solidly on the side of working class people.”