Vassal State
How America Runs Britain
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Vassal State
Narrated by:
Hugh Kermode
Buy Now for £17.94
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Narrated by:
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Hugh Kermode
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By:
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Angus Hanton
Summary
British politicians love to vaunt the benefits of the UK's supposed 'special relationship' with the US. But are we really America's economic partner - or its colony?
Vassal State lays bare the extent to which US corporations own and control Britain's economy: how American business chiefs decide what we're paid, what we buy, and how we buy it. US companies have carved up Britain between them, siphoning off enormous profits, buying up our most lucrative firms and assets, and extracting huge rents from UK PLC - all while paying little or no tax. Meanwhile, policymakers, from Whitehall mandarins to NHS chiefs, shape their decisions to suit the whims of our American corporate overlords.
Based on his 40 years of business experience, devastating new research, and interviews with the major players, Angus Hanton exposes why Britain has become the poor transatlantic relation - and what we can do to change it.
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The audiobook is rich with insights, showcasing the ways in which American business leaders have strategically acquired British assets and profits while often avoiding their fair share of taxes. Hanton’s thorough analysis highlights the implications of this dynamic, particularly on policymakers who seem to operate under the influence of their American counterparts.
While I found the content both enlightening and thought-provoking, I did feel that some sections were a bit padded out. Certain arguments could have been more concise, which would have sharpened the overall impact of Hanton's insights. The pacing occasionally slowed, detracting from the urgency of the book's important message.
Overall, Vassal State is a compelling listen that sheds light on a critical issue facing the UK today. Hanton’s call to action is both timely and necessary, making this book a valuable addition to the discourse on economic sovereignty. Despite some moments of excess, I thoroughly enjoyed the journey and highly recommend it to anyone interested in the intersection of politics and economics.
The Cost of “Special”
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An interesting book looking at how one country can have influence over another.
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+ Abject failure of successive Tory and Labour governments to protect British interests.
+ Government policy of subservience to the US.
+ Foreign Direct Investment treated as if it is always good, even when it is really asset stripping by private equity firms.
+ HMRC taxation policy making it harder to start companies and taxing British companies more when operating than when they are sold off.
+ Comparison with German and French corporate board strategy, with employees getting a say on whether the company gets sold to Private Equity and representations of local and national strategic interest.
I was not so keen on some of Hanton's left-leaning, political opinions, e.g. general pro-EU statements - noting that the EU would protect the UK from US corporate take-overs, but neglecting to mention large take-overs by companies from EU states like EDF; comment that President Trump is "capricious", which is a misrepresentation, i.e. one could argue that Trump's policies are consistent with his own political beliefs, just not with preceding US governments.
However, despite this minor gripe, and occasional jarring political opinions, this is a great book.
Great Summary of UK Vassalage to Foreign Interests
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We are up the creek without a paddle
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To benefit from all this nicely written research, you have to wade through his breathtaking mainstream views given his understanding of the ownership and control by oligarchs and multinationals.
He teeth-scrapingly gushes about the potential of the Oxford vaccine.
He goes heavy on criticism of Trump. Fine. But this could surely mislead readers into supposing things were much different under Obama or practically every other US administration in recent times.
He concludes we have been governed by those who have been "naive" and "indifferent" about who owns British business and gets government contracts. Our politicians are apparently "misguided" in their devotion to their ideas. I'm afraid it is growing ever more pathetic and insufferable yet again to be presented with these kinds of explanations when far more cynical ones are surely now appropriate.
An intelligent investigation by a seemingly gullible author.
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