The SNP’s clever but nasty politics

Nicola Sturgeon’s response to the benefits cap is a clever one, says Merryn Somerset Webb. But it’s as unpleasantly cynical as politics can get.

170421-sturgeon-b

If the SNP really disagrees with the policy, it can reverse it in Scotland
(Image credit: 2017 Ken Jack)

Earlier this month the government put in place some relatively minor reforms to the benefits system. These limited the cash benefits in the form of tax credits that parents can claim. You can now only claim for two children.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.