All the latest analysis of the day's news and stories
George Osborne gave middle England plenty to smile about in yesterday’s Budget by cutting business rates, helping savers and taking 600,000 people out of higher rate tax. Today’s Money blog looks at the day after the night before while, in other financial news, Fidelity International has warned that the retirement income gap is not just a
Is political correctness a good thing or a bad thing? As Simon Barnes writes in this week’s magazine, he used to think that people should be free to use whatever words they wanted to, in pursuit of truth and meaning. But having a son with Down’s syndrome has changed his mind. Now, he has seen the benefits that
BBC Newsnight sent a crew to North Wiltshire today, to interview voters about the budget. Gladys Pek Yue Macrae, a former Conservative Party branch chairman, said she is fed up because she expected Tory policies to be the result of a Tory majority. Instead, she said, “I find I have a socialist Chancellor. Conservatives are for small government
Yet again wine drinkers get it straight in the goolies from the Chancellor. Duty on wine will rise with inflation while that on beer, cider and spirits will remain as it is, having been cut last year. We endure almost the highest duty levels in the EU (after yesterday’s announcement, duty has risen to £2.08
The fat man of Europe is getting fatter. His teeth are rotting from the sugar in his coke and chocolates. He feeds his children bread and pasta instead of quinoa and couscous. It is time to tax the fat man – he must learn to stop eating sugar. And today, George Osborne has acted. In his
Here we go, here we go, here we [expletive of your choice] go again. Our old friend, the Offensive Behaviour at Football Act is back in the news again courtesy of an article written by its sponsor, Kenny MacAskill MSP. Booting MacAskill from office was one of Nicola Sturgeon’s first actions when she succeeded Alex
Chart 1: Growth downgraded. Not by much, but Osborne sails so close to the wind that every negative revision tends to knock him off course. Chart 2: So Osborne’s new debt target is missed already. He said the debt/GDP ratio would fall every year: a target he took right to the limit in his Autumn Statement.
In his Budget speech today, George Osborne made out as if the Office for Budget Responsibility was worried about Britain leaving the EU and quoted it saying “a vote to leave in the forthcoming referendum could usher in an extended period of uncertainty”. Listening, I was amazed: how could he enlist the independent OBR on either
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss the Budget”] Listen [/audioplayer]Thank you Mr Deputy Speaker. The Budget the Chancellor has just delivered is actually a culmination of six years of failure. This is a recovery built on sand and a Budget built on failure. The Chancellor has failed on the budget deficit failed on
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss the Budget”] Listen [/audioplayer]If George Osborne was ever a conservative he dropped the pretence today. The chancellor sounded risibly pompous as he declared his plan to impose a slimming regime on Britain’s heaving population of wobble-bottoms. A levy on fizzy pop will arrive in 2018.
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss today’s Budget”] Listen [/audioplayer]George Osborne played a difficult hand well in this Budget. Hemmed in by the worsening fiscal forecasts and the political limitations that the EU Referendum imposes on the government, he delivered a Budget that included some clever politics even if it won’t
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss today’s Budget”] Listen [/audioplayer]There were two striking things about George Osborne’s Budget today. The first was that having made sure that the weekend papers carried reports of all the pain that he was going to have to inflict on the nation to help it weather
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss today’s Budget”] Listen [/audioplayer]Alex Salmond had planned 24 March 2016 as his independence day and the budget he published during the Scottish independence referendum envisaged it having up to £7.5 billion of oil to spend. Today’s Budget shows that the figure will, instead be zero: precisely 100 per
Of all the pledges in George Osborne’s budget announcement today, the most surprising appeared to be that of the sugar tax. As the tax was unexpected — given that it has been heavily disputed in the past — it will likely get top billing in the Budget coverage in tomorrow’s papers. So, could there be more than meets the
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, James Forsyth and Isabel Hardman discuss today’s budget”] Listen [/audioplayer]Jeremy Corbyn’s response to today’s Budget was fine on paper. It included a proper response to the policies that were announced, rather than the Labour leader merely ranting about what he had thought might be in the Budget when he wrote the
Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in the world. I report on a labour market delivering the highest employment in our history. And I report on a deficit down by two thirds, falling each year and – I can confirm today – on course for
So, what did the Chancellor have up his sleeve? And how does it affect you and your money? Here is Spectator Money’s guide to the major changes. Income tax George Osborne stayed true to a Conservative pre-election pledge to increase the threshold for the higher rate of income tax. While reiterating that the goal is
Of course no Budget announcement would be complete without some customary ‘banter’ from the Chancellor of the Exchequer. With George Osborne’s leadership chances seen to be dwindling, he did his best to show that he had got his ‘mojo’ back. Clearly free of any guilty feelings over how things turned out for the Liberal Democrats in the General
Normally when a Leader of the Opposition prepares for the Prime Minister’s Questions before a Budget, it comes second to the prep for the difficult Budget response and focuses on a slightly random topic. The difference between this session and a normal PMQs is usually rather marked. But when Jeremy Corbyn rose today to ask
The art of delivering a good Budget – in a political sense at least – is to give everyone the impression that while you’ve had to do some really difficult things, you’ve miraculously managed to find some nice things to do too that will distract people for at least one round of newspaper front pages.
On the radio this morning the subject of high-rise housing was being discussed, the hook being the new film adaptation of JG Ballard’s High-Rise. Tower blocks are widely considered to be a disaster today; they took largely working-class populations out of often sub-standard (but potentially very nice) terraced houses into technically better housing that was
[audioplayer src=”http://rss.acast.com/spectatorpolitics/georgeosbornesbudget-2016/media.mp3″ title=”Fraser Nelson, Isabel Hardman and James Forsyth discuss today’s Budget”] Listen [/audioplayer] Sugar tax on drinks with over 8pc sugar from 2018. A tax on the poor. Chunky growth downgrades. This year, GDP to grow at 2.0pc (down from 2.4pc) next years at 2.2pc (down from 2.5pc) and at 2.1pc (down from 2.4pc) in 2018/19. Debt target
Marco Rubio last night finally suspended his campaign. At the risk of sounding smug, I could have told you years ago that he was not a good presidential candidate. In the wake of Barack Obama’s re-election in 2012, Rubio went on a charm tour of London, where I met him. He was sharp, no doubt about
A year ago, George Osborne was giving voters a glimpse of the sunny uplands that they could expect from life under a Tory government. At the time, few believed that there would be a Tory majority after the election, but here we are at the 2016 Budget with the Chancellor still in weatherman mode, but
Fresh austerity measures, changes to income tax and the scrapping of a radical overhaul to the pensions system have dominated the headlines ahead of the 2016 Budget. But what money measures does the Chancellor have in store today? Here’s what to expect. Income tax One of the Conservatives’ pre-election pledges was an increase in the threshold for the higher rate
Today’s the day. George Osborne will deliver the 2016 Budget amid fears of £4 billion in extra spending cuts, fuel duty rises, and an increase in insurance premium tax. Wednesday’s Spectator Money Blog is devoted to what to expect from the Chancellor, from a rowback on an overhaul of the pensions system to help for
Join us for an intimate and exclusive Spectator lunch at Chapel Down’s vineyards and winery in Kent. On your visit you will be accompanied by Chapel Down’s head winemaker, Josh Donaghay-Spire, and The Spectator’s drinks editor, Jonathan Ray. Chapel Down is England’s leading wine producer, offering a world-class range of sparkling and still wines, together
The saying ‘the House of Commons at its best’ is normally a pompous description of parliamentarians agreeing with one another on something it is impossible to disagree on. However, when MPs come together to scrutinise legislation involving the security services, they do come rather close to being at their best, as they grow rather anxious
In 2010, Ross Kemp appeared in a party political broadcast urging the public to vote for Labour in the General Election. In this, the EastEnders actor, who plays Grant Mitchell in the BBC soap opera, warned the nation against voting for David Cameron: ‘It only takes around 60 seconds to cast your vote. 60 seconds to
David Cameron this morning claimed that people who wish to leave the EU are ‘taking a risk with people’s jobs, taking a risk with families’ finances.’ Well then let us consider an even bigger risk that David Cameron is taking. In a visit to Turkey in 2010 our own Prime Minister announced that he would
George Osborne’s battle to become Conservative leader may well be tougher than the battle he faces from the Labour opposition. The Chancellor delivers his eighth Budget tomorrow with only 31 percent of Britons believing he has done a good job as Chancellor. The backdrop for his set-piece speech is perhaps more troubling: only 26 percent say their
Germany is on its feet again; the country’s answer to Ukip, Alternative Für Deutschland, made huge gains at the polls, winning a presence in three state assemblies. The shadow of Auschwitz looms over all European politics on the subject of immigration and race, but obviously more so in Germany, and many people are worried. Their
Last week John Longworth, the Director General of the British Chambers of Commerce, caused upset in the Remain camp when he used a BCC conference to claim that Britain could have a ‘brighter future’ outside the EU. With No.10 rumoured to have ‘bullied’ the BCC into disciplining him — an allegation they deny — Longworth was
Jeremy Corbyn is preparing for his first response to a Budget since becoming Labour leader. The last time he spoke in a debate following an economic statement from the Chancellor was in 2012, when he complained about the ‘granny tax’, the benefit cap, proposals for regional pay, transport spending and Heathrow and housing. The MP