James II

The Business Secretary and Equalities Minister said that UK's economic success is instead the result of 'British ingenuity and industry' as she welcomed a new book by a rightwing think tank. Despite the British Empire once being geographically the largest the world has ever seen, political economist Kristian Niemietz claimed Britain's growth was not financed by the slave trade or its imperial possessions. Writing for the Institute of Economic Affairs, Dr Niemietz has argued that colonialism made only a 'minor contribution' to Britain's economic development, 'and quite possibly none at all', with the benefits outweighed by the military and administrative cost of running an empire. He added that the trans-Atlantic slave trade was no more important to the British economy than sheep-farming or brewing, and most trade was with North America and Western Europe rather than the colonies, even if some individuals did become 'very rich' from 'overseas engagement'.

With 1980s fashion coming back into style, which is mostly a good thing, there are a few items that can stay put. Sweatbands, for instance: Olivia Newton-John briefly made them trendy with the suggestive video for her hit song Physical. Unfortunately, on mere mortals they look rubbish. Oh, and then there's the Spandex bodysuit. Likewise the shell suit, the brightly patterned polyester trouser and jacket combo, has mercifully gone.

Kemi Badenoch today slammed claims Britain is only wealthy because of 'colonialism and white privilege'. The Business Secretary insisted the establishment of Parliamentary democracy and the rule of law was at the heart of the country's success. She also hit out at calls for mandatory ethnicity quotas in the financial sector, jibing that her job often involved 'killing bad ideas'. The comments came as Ms Badenoch spoke at the CityUK international conference.