I spoke at FreedomWeek, an excellent endeavour of John-Paul Floru, which has brought together about thirty very bright students for a week of lectures and other activities at Sidney Sussex College (University of Cambridge). I basically told them that free trade and globalisation were drivers of economic development and poverty reduction, and discussed the various arguments put against free trade, especially the infant industry argument. Lots of very good questions afterwards.

I headed back to London, spent half an hour in the office replying to emails. The BBC phoned and asked if I could go on the TV on Friday. Then I headed off to the House of Lords where I gave evidence at a Select Committee on the effectiveness of sanctions (I said they weren’t very effective). I pointed out, for example, the failure of America’s grain sanctions against the Soviet Union, imposed in retaliation for invading Afghanistan. President Reagan has to repeal them because they only reduced the USSR’s grain imports by 1%. What happened was that other countries bought American grain, and then the grain they would otherwise have been consuming was sold to the USSR.

After that, I headed off to 11 Downing Street for a meeting. Went through security. They let us keep our mobile phones this time, but we were told to turn them off. Cups of tea and miniature scones were served. Afterwards there was a drinks reception with nice things on sticks. Gordon Brown told me something very funny, which I would love to share with you, but it was Chatham House. Sorry.