The Rest Is Money 273. How angry are business leaders with the government?
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Apr 26, 2026 They dig into vetting scandals and why personality can blind organisations to past misconduct. Political turmoil and succession questions swirl around recent Whitehall leaks. Shipping tensions in the Strait of Hormuz and global oil risks get linked to rising inflation and markets. Debate over North Sea drilling, energy bills and long-term policy trade offs rounds out the conversation.
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Vetting Leak Triggered A Political Crisis
- UK security vetting leaking a red-flag on Peter Mandelson exposed deep Whitehall fragility and led to the sacking of Ollie Robbins.
- Robert Peston says the leak and Starmer's reaction revealed amateurish appointment processes and civil service outrage.
Starmer's Position Looks Precarious
- Many Labour MPs view Starmer's survival as a matter of when, not if, due to poor polling and loss of political touch.
- Peston highlights absence of an obvious successor as the main reason timing of any removal is uncertain.
JP Morgan Bought A Fake User Base
- JP Morgan's 2021 purchase of student lender Frank failed because due diligence didn't verify the founder's claimed 4m users.
- The platform had ~300,000 users and founder Charlie Javice was later jailed for fraud.