Economics newsletter
Workers are paying the price for Labour’s National Insurance hike
Wasn’t Labour supposed to be tackling the scourge of insecure employment, doing away with exploitative zero hours contracts and giving employees protection against unfair dismissal from the first day they start their jobs? How odd then that so far it seems to have achieved the exact opposite. The latest labour market figures released by the
Reform is right to give up on ‘fag packet economics’
As Nigel Farage prepares to abandon pledges of up to £90 billion in tax cuts, there will be plenty of people arguing that his Reform party is giving up on its free market, small state roots. Other critics may say this is proof that Reform is shifting further to the left and pandering to its
Who killed the London Stock Exchange?
Stock exchanges around the world compete with each other to entice the most exciting companies to sell their shares on their markets, via Initial Public Offerings (IPOs). London was once the financial capital of the world, and a leader in IPOs. Now it has fallen to number 23 in the global IPO rankings, having been surpassed
Britain’s steel industry must die
It already faced tariffs in the United States, and it has been struggling to cope with some of the highest industrial energy prices in the world. Now what remains of the British steel industry faces what could well be a terminal blow. The European Union is about to impose tariffs of 50 per cent on
Kemi is right to preach fiscal responsibility
At the mausoleum that is this week’s Conservative party conference one of the bodies has just shown a slight muscular twitch. Kemi Badenoch will this morning try to reclaim the one subject on which the Tories can reasonably hope to base a revival: fiscal responsibility. Mel Stride has already proposed £47 billion worth of spending
Are the Tories really the party of ‘fiscal prudence’?
The message the Tories want you to leave their conference with is that they are the party of prudence. The party of fiscal responsibility who will make the first ‘serious down payments’ on the size of the state, as shadow chancellor Mel Stride explained at a Spectator drinks reception last night. Today, he will set
Will Labour MPs stand for Rachel Reeves’ benefits crackdown?
When Rachel Reeves speaks at Labour party conference today, she has a tough message to deliver. The Chancellor will announce her plans to ‘abolish youth unemployment’ by forcing Britain’s jobless youth into work. There’s a moral case to be made for welfare reform and the Chancellor must make it today The ‘youth guarantee’ scheme will
Are central bankers too powerful?
Donald Trump’s political and legal assault on the Federal Reserve has provoked concern and indignation from the defenders of central banks’ operational independence. Amid the sound and fury, some simple points are being forgotten. Whether or not this distracts central bankers from their main goal of controlling inflation is a matter of debate First, public
Britain’s inflation woes aren’t going away
The OECD expects the UK economy to outperform the eurozone and grow by 1.4 per cent over the year. But there is a downside to the Organisation for Economic Co-operation and Development’s latest figures: the body expects the UK’s inflation problem to persist, ending this year at 3.5 per cent, down just a touch from the
Borrowing is spiralling out of control
There really is no good news for Rachel Reeves as she prepares her second Budget. This morning’s borrowing figures are not just bad; they hint at a sense of hopelessness, that Britain is sliding inexorably towards a very deep fiscal crisis. This is yet another fiscal black hole for Reeves to fill, along with another about