Nick Macpherson
@nickmacpherson.bsky.social
Former Treasury official
Reposted by Nick Macpherson
💯 this from @nickmacpherson.bsky.social
February 7, 2026 at 5:46 PM
💯 this from @nickmacpherson.bsky.social
Reposted by Nick Macpherson
I’m teaching a class on lobbying for future policymakers on Monday. Hard to do better than this sensational oped from @nickmacpherson.bsky.social about money in UK politics and the transition from big banks to big tech—but the song remains the same. And the loser is public trust in government.
Counting the cost of money in politics ft.trib.al/sAx2W1p | opinion
Counting the cost of money in politics
Revelations of Mandelson’s cabinet leaks spotlight the symbiotic relationship between government and bankers
ft.trib.al
February 7, 2026 at 5:40 PM
I’m teaching a class on lobbying for future policymakers on Monday. Hard to do better than this sensational oped from @nickmacpherson.bsky.social about money in UK politics and the transition from big banks to big tech—but the song remains the same. And the loser is public trust in government.
Reposted by Nick Macpherson
Counting the cost of money in politics ft.trib.al/sAx2W1p | opinion
Counting the cost of money in politics
Revelations of Mandelson’s cabinet leaks spotlight the symbiotic relationship between government and bankers
ft.trib.al
February 6, 2026 at 4:45 PM
Counting the cost of money in politics ft.trib.al/sAx2W1p | opinion
My thoughts on the events of this week for tomorrow's FT.
url.uk.m.mimecastprotect.com/s/YlnhCgZmgt...
url.uk.m.mimecastprotect.com/s/YlnhCgZmgt...
Counting the cost of money in politics
Revelations of Mandelson’s cabinet leaks spotlight the symbiotic relationship between government and bankers
url.uk.m.mimecastprotect.com
February 6, 2026 at 5:32 PM
My thoughts on the events of this week for tomorrow's FT.
url.uk.m.mimecastprotect.com/s/YlnhCgZmgt...
url.uk.m.mimecastprotect.com/s/YlnhCgZmgt...
Alistair Darling and the official Treasury were always aware that investment banks had an inside track to Number 10. But the brazen nature of that inside track is rather breath-taking.
Who leaked this Number 10 discussion to Jeffrey Epstein? And are there consequences for the leaker?
It’s an internal discussion re. getting markets moving in the aftermath of the financial crisis. No doubt of great interest to Epstein and his financial market clients.
It’s an internal discussion re. getting markets moving in the aftermath of the financial crisis. No doubt of great interest to Epstein and his financial market clients.
February 2, 2026 at 10:33 AM
Alistair Darling and the official Treasury were always aware that investment banks had an inside track to Number 10. But the brazen nature of that inside track is rather breath-taking.
I commend this review which I carried out in 2013. The recommendations remain relevant today. assets.publishing.service.gov.uk/media/5a7f09...
assets.publishing.service.gov.uk
November 26, 2025 at 12:24 PM
I commend this review which I carried out in 2013. The recommendations remain relevant today. assets.publishing.service.gov.uk/media/5a7f09...
The only way to raise serious revenue is to raise a tax which everybody pays. Raising a tax which someone else pays rarely raises the revenue needed and creates endless pressure from special interest groups. Compare and contrast Mr Osborne's 2 1/2% VAT increase with his pasty tax. #omnishambles
November 14, 2025 at 3:32 PM
The only way to raise serious revenue is to raise a tax which everybody pays. Raising a tax which someone else pays rarely raises the revenue needed and creates endless pressure from special interest groups. Compare and contrast Mr Osborne's 2 1/2% VAT increase with his pasty tax. #omnishambles
Reposted by Nick Macpherson
Nikolaus Pevsner famously described the demolition of Sir John Soane's Bank of England, as "the greatest architectural crime in the City of London of the twentieth century". Here is Project Soane's initial recreation of parts of it. @nickmacpherson.bsky.social youtu.be/TlSdcXIqufQ?...
Visualizing architectural wonders lost to history: rendering Project Soane
YouTube video by RAMSA | Robert A.M. Stern Architects
youtu.be
October 29, 2025 at 8:09 PM
Nikolaus Pevsner famously described the demolition of Sir John Soane's Bank of England, as "the greatest architectural crime in the City of London of the twentieth century". Here is Project Soane's initial recreation of parts of it. @nickmacpherson.bsky.social youtu.be/TlSdcXIqufQ?...
Reposted by Nick Macpherson
Case study week on the 'Chancellors and the Treasury' module on @strandgroup.bsky.social MA Government Studies - Expert advisers @nickmacpherson.bsky.social @officialedballs.bsky.social prep students before they re-enact the day UK left the ERM in Sep 1992, a historic and chaotic 24 hours
October 29, 2025 at 11:13 AM
Case study week on the 'Chancellors and the Treasury' module on @strandgroup.bsky.social MA Government Studies - Expert advisers @nickmacpherson.bsky.social @officialedballs.bsky.social prep students before they re-enact the day UK left the ERM in Sep 1992, a historic and chaotic 24 hours
2 thoughts on the spending review. 1. Raising public service productivity is more important than ever. 2. 15 years of prioritising the NHS, education and "triple lock" (and now defence) by cutting all other programmes, in particular the home office and justice) is no longer sustainable. #soundmoney
June 11, 2025 at 3:04 PM
2 thoughts on the spending review. 1. Raising public service productivity is more important than ever. 2. 15 years of prioritising the NHS, education and "triple lock" (and now defence) by cutting all other programmes, in particular the home office and justice) is no longer sustainable. #soundmoney
Sound economic analysis from the ever insightful @dsmitheconomics.bsky.social. #freetrade
www.thetimes.com/article/06e1...
www.thetimes.com/article/06e1...
Starmer must defy Trump by hugging other tariff victims closer
Britain doesn’t deserve to be on the end of Donald Trump’s taxes, but the solution may be to form an economic coalition of the willing and focus on what we’re good at
www.thetimes.com
April 5, 2025 at 6:15 PM
Sound economic analysis from the ever insightful @dsmitheconomics.bsky.social. #freetrade
www.thetimes.com/article/06e1...
www.thetimes.com/article/06e1...
Reposted by Nick Macpherson
👊🇨🇦🔥
Carney: The system of global trade anchored on the United States.. is over. Our old relationship of steadily deepening integration with the United States is over. The 80 year period when the United States embraced the mantle of economic leadership… is over.
April 3, 2025 at 7:25 PM
👊🇨🇦🔥
Reposted by Nick Macpherson
My Trade Secrets response to the tariffs.
Bad news: these tariffs cd be worse than the 1930s & the Republicans are inflicting their deep pathology on the world.
Good news: this is as yet a US trade war, not a world trade war. Others can resist following Trump's crazy road.
First 300 clicks free.
Bad news: these tariffs cd be worse than the 1930s & the Republicans are inflicting their deep pathology on the world.
Good news: this is as yet a US trade war, not a world trade war. Others can resist following Trump's crazy road.
First 300 clicks free.
A US tariff pathology is unleashed upon the world
[FREE TO READ] The Republicans have allowed a destructive economic nationalist to lead America into chaos
on.ft.com
April 3, 2025 at 2:18 PM
My Trade Secrets response to the tariffs.
Bad news: these tariffs cd be worse than the 1930s & the Republicans are inflicting their deep pathology on the world.
Good news: this is as yet a US trade war, not a world trade war. Others can resist following Trump's crazy road.
First 300 clicks free.
Bad news: these tariffs cd be worse than the 1930s & the Republicans are inflicting their deep pathology on the world.
Good news: this is as yet a US trade war, not a world trade war. Others can resist following Trump's crazy road.
First 300 clicks free.
The biggest challenge for the Chancellor is delivering the revenue forecast. Despite all the tax increases since Labour last left office, the tax burden only rose by 2.1 per cent of GDP in 15 years. Today's forecast assumes a similar rise in just 5 years. If only raising revenue was that easy...
March 26, 2025 at 9:39 PM
The biggest challenge for the Chancellor is delivering the revenue forecast. Despite all the tax increases since Labour last left office, the tax burden only rose by 2.1 per cent of GDP in 15 years. Today's forecast assumes a similar rise in just 5 years. If only raising revenue was that easy...
Debt service costs are set to rise from £105.2bn to £131.6bn over the next 5 years, a growth rate significantly ahead of spending on public services and welfare. a reminder that the Chancellor is right to prioritise fiscal consolidation. #soundmoney
March 26, 2025 at 3:18 PM
Debt service costs are set to rise from £105.2bn to £131.6bn over the next 5 years, a growth rate significantly ahead of spending on public services and welfare. a reminder that the Chancellor is right to prioritise fiscal consolidation. #soundmoney
Good to know Canada is in safe hands. If ever someone was well qualified to deal with the extraordinary challenges Britain's most reliable and loyak ally faces, it's my old friend Dr Carney. #freetrade
It is my honour to serve. Canada has given me everything. Now, I’m ready to give everything for Canada.
March 14, 2025 at 8:17 PM
Good to know Canada is in safe hands. If ever someone was well qualified to deal with the extraordinary challenges Britain's most reliable and loyak ally faces, it's my old friend Dr Carney. #freetrade
Reposted by Nick Macpherson
Love the way no one over here paid any attention to Australia when a massive Chinese warship started live-firing off its coast, but some random influencer no one’s ever heard of steals a baby wombat and our media can’t get enough 😀😬
March 13, 2025 at 8:29 PM
Love the way no one over here paid any attention to Australia when a massive Chinese warship started live-firing off its coast, but some random influencer no one’s ever heard of steals a baby wombat and our media can’t get enough 😀😬
My book review for tomorrow's FT. www.ft.com/content/c741...
Mellon vs Churchill — when world leaders chose co-operation over confrontation
Jill Eicher’s timely book brings to life the battle between the US Treasury secretary and the British chancellor in the wake of the first world war
www.ft.com
March 7, 2025 at 2:27 PM
My book review for tomorrow's FT. www.ft.com/content/c741...
Reposted by Nick Macpherson
Freedom and democracy are always worth fighting for. Slava Ukraini.
February 28, 2025 at 8:09 PM
Freedom and democracy are always worth fighting for. Slava Ukraini.
Reposted by Nick Macpherson
Happy Brexit Day (2).
Why did immigration *increase* after Brexit, and what do w know about the economic and the labour market impacts?
My National Institute Economic Review article (open access).
www.cambridge.org/core/journal...
Why did immigration *increase* after Brexit, and what do w know about the economic and the labour market impacts?
My National Institute Economic Review article (open access).
www.cambridge.org/core/journal...
January 31, 2025 at 7:45 AM
Happy Brexit Day (2).
Why did immigration *increase* after Brexit, and what do w know about the economic and the labour market impacts?
My National Institute Economic Review article (open access).
www.cambridge.org/core/journal...
Why did immigration *increase* after Brexit, and what do w know about the economic and the labour market impacts?
My National Institute Economic Review article (open access).
www.cambridge.org/core/journal...
UK 10 year bond yields have risen 14 basis points in the last month. Germany's have risen by 30 bp and the USA's by 21 bp, confirming both the fickleness of markets and the media. #soundmoney
January 17, 2025 at 5:53 PM
UK 10 year bond yields have risen 14 basis points in the last month. Germany's have risen by 30 bp and the USA's by 21 bp, confirming both the fickleness of markets and the media. #soundmoney
An interesting battle is playing out between the Bank of England and the market as to who determines the interest rate mortgage holders and businesses pay. At the moment, the market is winning. #soundmoney
January 9, 2025 at 8:16 AM
An interesting battle is playing out between the Bank of England and the market as to who determines the interest rate mortgage holders and businesses pay. At the moment, the market is winning. #soundmoney
Reposted by Nick Macpherson
Partnerships with HM Treasury & DBT mean our 'Chancellors & Treasury' & 'History of Civil Service' students had classes in the Old Chancellor's Office & the Old Admiralty Building with DBT perm sec Gareth Davies
ℹ️ www.kcl.ac.uk/study/postgr...
@nickmacpherson.bsky.social @policyatkings.bsky.social
ℹ️ www.kcl.ac.uk/study/postgr...
@nickmacpherson.bsky.social @policyatkings.bsky.social
December 13, 2024 at 10:59 AM
Partnerships with HM Treasury & DBT mean our 'Chancellors & Treasury' & 'History of Civil Service' students had classes in the Old Chancellor's Office & the Old Admiralty Building with DBT perm sec Gareth Davies
ℹ️ www.kcl.ac.uk/study/postgr...
@nickmacpherson.bsky.social @policyatkings.bsky.social
ℹ️ www.kcl.ac.uk/study/postgr...
@nickmacpherson.bsky.social @policyatkings.bsky.social
I commend John Kingman's article on how to get the economy growing. In short, be bolder on planning, infrastructure, university reform and social housing.
November 24, 2024 at 6:32 PM
I commend John Kingman's article on how to get the economy growing. In short, be bolder on planning, infrastructure, university reform and social housing.
Reposted by Nick Macpherson
Excellent case studies on the IMF & ERM crises on our 'Chancellors & the Treasury' module
Thanks to practitioner experts Ed Balls, Catherine Macleod, @nickmacpherson.bsky.social, & Mario Pisani
The module is part of MA Government Studies: www.kcl.ac.uk/study/postgr...
@policyatkings.bsky.social
Thanks to practitioner experts Ed Balls, Catherine Macleod, @nickmacpherson.bsky.social, & Mario Pisani
The module is part of MA Government Studies: www.kcl.ac.uk/study/postgr...
@policyatkings.bsky.social
November 19, 2024 at 12:48 PM
Excellent case studies on the IMF & ERM crises on our 'Chancellors & the Treasury' module
Thanks to practitioner experts Ed Balls, Catherine Macleod, @nickmacpherson.bsky.social, & Mario Pisani
The module is part of MA Government Studies: www.kcl.ac.uk/study/postgr...
@policyatkings.bsky.social
Thanks to practitioner experts Ed Balls, Catherine Macleod, @nickmacpherson.bsky.social, & Mario Pisani
The module is part of MA Government Studies: www.kcl.ac.uk/study/postgr...
@policyatkings.bsky.social