Politics

Read about the latest UK political news, views and analysis.

Wednesday

Katy Balls Katy Balls

Backbench Tories turn on Truss

Liz Truss’s appearance before MPs at the 1922 committee was meant to be part of a wider charm offensive as she tries to get MPs back on side after a tricky start. With Labour enjoying a large poll lead and market turmoil dominating the news, Truss needs to keep her party behind her. Yet that is looking rather uphill. As James Forsyth reports on Coffee House, the mood amongst backbenchers leaving the meeting was (to put it politely) mixed. ‘It was painful,’ says one attendee. Other words used to describe the session include ‘awful’, ‘funereal’ and ‘brutal’. Truss attempted to win over assembled MPs by promising further reach out and parliamentary

James Forsyth James Forsyth

Truss’s tricky time with Tory MPs

Liz Truss has just finished addressing the 1922 committee of Tory MPs. The mood among backbenchers afterwards was mixed. There was surprise among them that there hadn’t been more of an effort by the whips to get supportive questions placed – something which happened even at the nadir of Theresa May’s fortunes. Instead, there were a slew of direct questions about the missteps of recent weeks. Truss’s allies might be concerned that Grant Shapps had a broad grin on his face as he left the meeting.   The PM promised more consultation with Tory MPs, a staple offer from a leader facing backbench discontent. Truss said MPs would be invited to

Lloyd Evans Lloyd Evans

Liz Truss’s epic blandness

Liz Truss faced her first proper grilling at PMQs. Her debut, last month, was a softball affair but today Keir Starmer went in with both fists swinging. He asked her to endorse Jacob Rees-Mogg’s view that ‘turmoil in the markets has nothing to do with the Budget’. ‘What we have done,’ said Liz, pleasantly, ‘we have taken decisive action to make sure that people are not facing energy bills of £6,000 for two years.’ Sir Keir, already hopping mad, blasted her for ignoring his specific point. ‘Avoiding the question, ducking responsibility, lost in denial,’ he said viciously. He mentioned a young couple from Wolverhampton, Zac and Rebecca, who last week

Isabel Hardman Isabel Hardman

Starmer and Truss both face problems of their own making

Today’s Prime Minister’s Questions taught us two things. The first was that Keir Starmer has still got a long way to go before he is the one putting Liz Truss on the ropes. The second is that Truss has got a long way to go before she isn’t putting herself on the ropes instead.  It wasn’t a high energy session from either leader: Starmer fell back into his habit of enunciating every syllable in an exasperated tone, whether he was talking about the BUSINESS. SECRETARY. or MORTGAGE. PAYMENTS. In fairness, there is a fair bit to be exasperated about, but Starmer would probably adopt the same tone about his sock

Cindy Yu Cindy Yu

Is Truss ruling out spending cuts?

9 min listen

Did Liz Truss misspeak or did she mean it when she said that she wouldn’t go ahead with spending cuts, as promised in her leadership campaign? On the episode, Cindy Yu talks to James Forsyth and Katy Balls about what the Prime Minister could have meant, given the need to balance the books to pay for her tax cuts. James suggests that there may be a question over whether she meant nominal or real spending cuts. Whatever it is, the government needs to do more to reassure the markets – the team also discuss whether or not the Bank of England’s bailout will really end in the coming days.

Kate Andrews Kate Andrews

Truss says no to spending cuts. Here’s the caveat

The mini-Budget was a spending spree. The ‘medium-term fiscal plan’ was meant to explain the funding. But what exactly is going to be in it?  Liz Truss and Kwasi Kwarteng were thought to have (finally) come to terms with the need to address the need for some restraint, after their mini-Budget led to market chaos which is yet to settle. Their fiscal statement – in other words, how they would fund their tax cuts – was moved forward by almost a month, to 31 October. Its contents were thought to include some major spending cuts, in a bid to convince markets that fiscal discipline still guides the Tory party. If there are

Christopher Snowdon

Therese Coffey should leave smokers alone

So Thérèse Coffey, the health secretary, is putting the tobacco control plan on ice. Or is she? As in many other areas of public policy these days, all we have are rumours. Someone may be flying a kite with this rumour, but it is not clear whether it is the health secretary or a disgruntled civil servant at the Department of Health holding the string. All Coffey has said officially is that she was not ‘aware’ of what’s going on with it. You may not be aware of it at all and I can hardly blame you. In the dying days of Theresa May’s administration – two prime ministers ago

Tom Slater Tom Slater

Just stop Just Stop Oil

Why block roads? Why make people’s lives miserable? Who do you think this is going to convince? So go the interminable TV-news debates after each disruptive piece of direct action by eco-troupe Extinction Rebellion and the various single-issue offshoots, such as Just Stop Oil, that it has inspired. These past two weeks, Just Stop Oil has been back in the spotlight. It is now into its 12th consecutive day of action in London, demanding the government stop all oil and gas production. Yesterday, its activists blocked roads in Knightsbridge, delaying an ambulance, a fire engine and cars carrying babies to hospital. Today, they’re sitting in the road outside parliament.  Once

Douglas Murray

Is what Conor Burns did really so appalling?

There are times when I feel like certain rakes must have done when they realised that the Regency period was suddenly morphing into the Victorian one. Not that I feel especially rakish. Just that there are times when you see the new rules of sex and think: ‘Well, I guess there’ll be none of that from now on.’ Take the allegations made against Conor Burns MP. Last week, Burns was fired from his ministerial job and had the Conservative party whip suspended. There are efforts to take his name off the list of people put forward for a knighthood in Boris Johnson’s farewell honours list. What is the cause of all

Ross Clark Ross Clark

Is it time to sack Andrew Bailey?

Kwasi Kwarteng’s mini-Budget was botched and the government has lost control of public spending. But this morning Jacob Rees-Mogg was not wrong to deflect at least some of the blame for current market turmoil on the Bank of England. The bank has been hopelessly behind the curve on inflation – in May last year it was still confidently predicting that the Consumer Prices Index would rise no higher than 2 per cent this year. Shortly before Kwarteng’s budget it showed that it was still lagging behind by raising interest rates by 0.5 per cent rather than the 0.75 per cent which markets had been expecting. If ever there was a public

Steerpike Steerpike

Parliament to host ‘children’s select committee’

Critics moan that parliament is full of children – and next week it certainly will be. For Mr S has learned of a new scheme to champion Westminster’s outreach efforts across the country. The UK Youth Parliament for 11 to 18 year olds was one thing; now Tory MP Anna Firth is hosting the first in-person ‘Children’s Parliament Select Committee’ for those even younger. For next Monday London and Southend school pupils between the ages of seven to eleven will descend on Portcullis House to ask the tough questions of various water companies. Anglian Water, Southern Water and other related businesses are expected to be there and can expect a

Kate Andrews Kate Andrews

Britain’s shrinking economy adds to market jitters

Liz Truss and Rishi Sunak spent the summer fighting it out in the Tory leadership contest, debating how they would make the economy grow. It turns out that, while that discussion raged on, the economy was contracting: GDP fell in August by 0.3 per cent, according to figures from the Office for National Statistics. This is an unexpected dip which is only likely to increase market jitters. September is likely to be a bad month too Production output fell by 1.8 per cent, while services dipped by 0.1 per cent overall: of this, arts, entertainment and recreation activities plunged by 5 per cent in total, making it one of the ‘largest contributors’ to the

Peregrine Worsthorne

What Washington was like during the Cuban Missile Crisis (2002)

On 27 October 1962, US Defense Secretary Robert McNamara stepped out of crisis meetings and looked up at the sky. ‘I thought it was the last Saturday I would ever see,’ he recalled.  This month marks 60 years since the Cuban Missile Crisis. In 2002, Peregrine Worsthorne wrote about what it was like to be in Washington during humanity’s closest shave. Forty years ago the Americans won what I hope will be the nearest thing to nuclear war between superpowers — of which only one is left — ever fought; and the fact that they won it without firing a shot should not diminish but rather increase the extent of the victory.

Robert Peston Robert Peston

Kwasi Kwarteng’s mini-budget continues to spook investors

If government bond sales by pension funds are the fundamental cause of a potential systemic crisis that could hurt us all, as the Bank of England says, why are pension funds taking so little advantage of the Bank’s offer to buy £65 billion of the bonds? And why are bond prices still falling? It seems to me the only explanation for what is happening is that margin calls on pension funds’ liability-driven investments (LDIs) – or the trillion pounds of their debt that’s secured against UK government bonds – are not, in fact, the main cause of the spike in bond yields, or at least they are only a small

Tuesday

Kate Andrews Kate Andrews

The Bank of England’s governor issues a stark warning

Speculation has been growing that the Bank of England might announce an extension of its emergency gilt-buying programme which is set to end on Friday. Despite the Treasury moving forward its ‘medium-term fiscal plan’ announcements from November to the end of this month, gilt yields have been rising yet again this week in the lead-up to the end of the scheme. It seemed likely that the Bank’s gilt-buying programme might be extended for another two weeks as a result, in order to buy time before the Chancellor Kwasi Kwarteng’s announcement on 31 October. But tonight Andrew Bailey put that speculation to bed. Speaking at the Institute of International Finance in Washington DC, the

Freddy Gray Freddy Gray

Meghan Markle’s podcast is about the word ‘crazy.’ And it’s barking mad

‘Calling someone crazy or hysterical completely dismisses their experience,’ says Meghan Markle in her strangely throaty professional podcast voice. ‘It minimises what they’re feeling. And you know it doesn’t stop there. It keeps going to the point where anyone who has been labelled it enough times can be gaslit into thinking that they’re actually unwell. Or sometimes worse to the point where real issues of all kinds get ignored. Well that’s not happening today.’ Cue the intro music – ‘I am woman, I am fearless, I am sexy’ etc. – to the latest episode of Archetypes, the Duchess of Sussex’s Spotify series. ‘I feel pretty strongly about this word crazy,’

Isabel Hardman Isabel Hardman

Kwasi Kwarteng’s easy ride

Tory MPs were in an anxious mood as they returned to the Commons this afternoon after weeks of conference recess and government meltdown. Their first session in parliament was, appropriately enough, Treasury questions, where they had a chance to air some of their anxieties with the Chancellor and his team. It could have been a much worse session for Kwasi Kwarteng, given the way things have gone recently. But the number of MPs seeking reassurance won’t have left him feeling very relaxed. Kwarteng told the Commons that his mini-Budget had been ‘really strong’ Kwarteng told the Commons that his mini-Budget had been ‘really strong’ and that MPs constituents would have

Kate Andrews Kate Andrews

What is the way out for Kwasi?

14 min listen

Parliament is back today and Kwasi Kwarteng is facing questions from the opposition as well as from those within his party. How much pressure is he under? Also on the podcast, looking ahead to another fiscal event at the end of the month, are we heading for a series of departmental spending cuts? What would our political team announce if they were Chancellor on October 31st? Katy Balls speaks to James Forsyth and Kate Andrews. Produced by Oscar Edmondson.

Steerpike Steerpike

EU chief blasts Brussels’ diplomats

The verdict is in: European Union diplomats are useless. But this isn’t the view of one of the EU’s usual detractors. It’s the assessment of Josep Borrell, Brussels’ very own foreign affairs chief. In a damning briefing to the European External Action Service, Borrell said he was fed up finding out information from newspapers before hearing it from his own officials. ‘Quickly for the European standard means a couple of months,’ said Borrell ‘This is not a moment when we are going to send flowers to all of you saying that you are beautiful, you work very well and we are very happy, we are one big family,’ Borrell said, before launching into his furious rebuke

Katy Balls Katy Balls

Labour prepares to fire up its election machine

Could a snap election be around the corner? That’s the message Keir Starmer relayed to party staff in a conference call this morning. He told those assembled that the economic turmoil following the Chancellor’s not-so-mini Budget means the government ‘could fall at any time’. As a result, his party needs to be election ready: ‘We have to recognise it is that unstable. We need to be ready. We need to get on an election footing straight away’. This isn’t the first time in recent months that figures in Labour have said they’re on an election footing – it’s a useful line to garner attention and rally the base. But this