All the latest analysis of the day's news and stories
Shoppers are predicted to go on a £1.97 billion spending spree today, setting a new record for Black Friday. Analysts expect record sales, not least because the fall in the value of the pound is forecast to push up the prices of imported goods next year. In a new move, retailers are now expanding Black Friday
Under Robert Chote, the Institute of Fiscal Studies (IFS) was meticulous about positioning itself as politically neutral. Since he left to run the Office of Budgetary Responsibility (OBR) and Paul Johnson took over it has been far more relaxed about its political position. Increasingly it comes across as yet another centre-left think tank attacking the
When a Spectator editor, who shall remain nameless, emailed months ago to ask for an article on the business of post-mortem tattoo preservation, I was horrified. Not because it’s such a horrifying subject, as I discovered and had the pleasure of outlining in this week’s issue. Rather, horrified because it’s a subject that would require genuine effort on
Although it’s usually cats that dominate government-related pet news, in recent week’s Gavin Williamson’s tarantula Cronus has been causing a stir. After the Chief Whip revealed he keeps a ‘proper pet’ on his desk, Commons authorities raised concerns over whether this was actually allowed — given that only guide and security dogs are allowed on the estate.
It is not self-evidently ridiculous that Nigel Farage should be the next British ambassador to the United States. The wishes of the president-elect should not automatically be discounted. John F. Kennedy’s wish that his friend David Ormsby-Gore (Lord Harlech) should be ambassador was granted. It is also not true that the post must be filled
Since the Leave vote, Ukip has struggled to capitalise on the post referendum moment. While the Labour party isolates itself from its once core working class voters, Ukip have been busy in-fighting. Today’s figures from the electoral commission show how dire the situation is. In the donations received between 1 July and 30 September 2016, the cash-strapped
Not that he made much of a fuss about it, but Philip Hammond made a bit of history in his Budget speech yesterday. He spoke, as usual, about the main rates of tax. But then he mentioned a different one: the taper, or the effective tax rate, that faces those in low paid work. It
While there were plenty of people-pleasers in yesterday’s Autumn Statement, it’s safe to say that insurance companies were not happy. Yes, there will be a crackdown on fraudulent whiplash claims, and yes, there is another freeze on fuel duty (all good news for insurers and their customers). But these aren’t the issues clogging my inbox
‘Theresa May and I have made it clear that we are very committed to returning the public finances to balance,’ said Philip Hammond on the Today programme this morning. But his Autumn Statement did the reverse. It abolished the deadline for balancing the books, and talks instead about keeping the overspend to about 2pc of
On this week’s podcast we discuss the royal flush that Theresa May has been dealt, debate Sadiq Khan’s progress, half a year into his tenure as London Mayor, and pose the seasonal question of whether advent is better than Christmas. First, James Forsyth‘s cover story this week charts the remarkable fortune of Theresa May, as the weaknesses
So, no more Spring Budgets. In one of the most surprising announcements in yesterday’s speech, the Chancellor revealed the abolition of the traditional March Budget and Autumn Statement. From 2017, there will be a single Budget in Autumn, along with a ‘Spring Statement’ with no major policy announcements from 2018. In truth, the final Autumn Statement
Spare a thought for Michael Gove. While his fellow Brexiteer Boris Johnson’s leadership campaign came to an abrupt end thanks to Gove challenging him, in the end it was the former mayor who found himself in the Cabinet and Gove who ended up on the backbench. Now it seems that Boris has had the last laugh
‘Mister Softie’, screams the headline on the New York Daily News, with Donald Trump’s luxurious comb-over transformed into an ice-cream twist. The president elect is back-pedalling, flip-flopping and cozying up to his enemies. Going soft. Before he has even taken up residence in the White House, America’s liberal media has declared Trump a traitor to the millions
For most people being Foreign Secretary would be a great job, but Philip Hammond never looked like he particularly relished that role. What he has always wanted to be is Chancellor and today in his first major parliamentary event in the role he crisply set out what he thinks is wrong with the UK economy.
Once, journalists trawled the Red Book (ie, the Budget statement) for stories. Now, the Office for Budget Responsibilities does this for us. There will be plenty in it for Brexiteers and Remainers. The former will be delighted that the OBR pretty much trashes the main assumptions made in HM Treasury’s now-notorious dossier on jobs, recession,
Corbyn did quite well today. He got all frothed-up about the NHS and put some real oratorical venom into his closing attack. It began as an incomprehensible ‘battle of the budgets’ between the Labour leader and Mrs May. They were like a pair of drunken sailors comparing scars. The PM claims to have added a
As Labour struggle to be relevant, Rebecca Long-Bailey — the shadow chief secretary to the Treasury — managed to secure a prime spot in the BBC’s coverage of the Autumn Statement. Alas, brains at Labour may now be wishing she’d given the interview a miss. Long-Bailey appeared flustered as Andrew Neil asked her several questions about
No-one envies the person whose job it is to respond for the Opposition to an economic statement that has just been made to the House of Commons. But perhaps John McDonnell’s job today was rather less terrifying given few people were seriously worrying about what he had to say. The House of Commons was rather
Facebook and Barack Obama have said they both want to tackle ‘fake news’ on the internet. The battle should start with government economic forecasts. Does anyone really believe the figures for economic growth up to 2020 made by the Office for Budgetary Responsibility (OBR) and pumped out by Philip Hammond in his Autumn Statement? Growth
Philip Hammond started his autumn statement to the House of Commons by saying his style would be rather different to George Osborne’s. Yet the Chancellor still had a rabbit to pull out of his hat at the end — albeit one designed to show he wasn’t a political meddler like previous holders of his job
From the moment she arrived in 10 Downing Street, Theresa May has been commendably clear about her economic priorities for Britain. She wants the country to be a beacon of free trade, at a time when protectionism is on the rise the world over. She is annoyed at the way in which quantitative easing has
Despite promising no rabbits in hats or displays of showmanship — unlike his predecessor — Philip Hammond managed to offer up a few surprises in his first Autumn Statement. For one, that this will be his last — with the Chancellor putting an end to the annual event. Secondly, he chose one project to give a
Mr Speaker, It is a privilege to report today on an economy which the IMF predicts will be the fastest growing major advanced economy in the world this year. An economy with employment at a record high – and unemployment at an 11 year low. An economy which, through the hard work of the British
It’s a big day in the Commons with the Autumn Statement. Perhaps that’s why seat tensions ran so high at PMQs among Jeremy Corbyn’s shadow cabinet. After arriving in good time, Diane Abbott — dressed in a showstopping silver jacket — secured a prime seat next to the dear leader. Alas when Tom Watson arrived,
Online petitions don’t actually change things, do they? What a silly waste of time. Politicians don’t actually listen to…the people, right? Millennials are so naïve, look at them indulging their narcissism with online clicktivism. Or not. After seven months of campaigning to Make Renting Fair at The Debrief, working with the likes of Lib Dem
If there’s one thing sure to get estate agents’ knickers in a twist, it’s a threat to their income. And so the news that Philip Hammond will use the Autumn Statement to announce a ban on letting fees has sparked a tirade of protestations and a bumper crop of press releases lamenting their lot. But
One story dominates the financial news this morning: the Autumn Statement. A slew of predictions, speculation and leaks feature in newspapers and websites, including yesterday’s widely trailed announcement of a £1 billion boost to improve broadband speeds for up to 2 million homes and businesses. Other measures expected in Philip Hammond’s first Autumn Statement include ways to
Here’s a tip for judges, businessmen, peers, politicians and former PMs who don’t like being called ‘enemies of the people’: stop behaving like enemies of the people. This week it is reported that Tony Blair is polishing his toothy grin to make a comeback into British politics, potentially as thwarter, or just tamer, of the ‘catastrophe’
Philip Hammond offered up few surprises in his Autumn Statement. As predicted, he said the minimum wage will go up (slightly), fuel duty will be frozen, letting agency fees will be banned and George Osborne’s welfare reforms will be partly softened, with the ‘taper rate’ for Universal Credit slowed down. But he did save room for one
The Sun has warm words for Philip Hammond ahead of his Autumn Statement announcement this afternoon. The Chancellor’s plans for a rise in the national living wage, ‘a U-turn on benefit cuts to low-paid workers and a crackdown on exorbitant letting agents’ fees’ are praised for ‘improving Sun readers’ lot’. The paper goes on to
Yesterday was another mad day in Trumpland — or America, as it used to be called. The president-elect started the morning off by promising, somewhat mystically on Twitter, that ‘Great meetings will take place today at Trump Tower concerning the formation of the people who will run our government for the next 8 years’. But the
So, dear old Boris has put his size 10s in it again, upsetting prosecco producers and Italians everywhere with his frank and forthright views about Brexit and the cheaper end of the Italian sparkling wine industry. Our former editor and current Foreign Secretary seemed to suggest that Italy should back his version of a Brexit
If you think Theresa May has made life difficult for ‘right-wing libertarians’ in the UK, spare a thought for the poor schmucks across the pond. I was in Washington DC for a few days either side of the presidential election and the overwhelming impression I got from various think tank wonks I spoke to was
Location, location, location is the estate agent’s mantra when asked to define what makes a property hot – or not. But these days where your house sits on the digital highway can also prove crucial to luring prospective buyers. It’s no secret that the rollout of super-fast broadband and mobile connectivity in the UK has