All the latest analysis of the day's news and stories
Spare a thought for Liz Truss’s communications advisers. They’re following the unwritten rules of crisis management to a tee, but it’s only making things worse. They find themselves in this quandary partly because the government’s situation is uniquely bad – and partly because the Prime Minister is so bad at communicating. Watching Truss’s interview with the
What do you do when a country is in crisis? You send in the army. And that’s exactly what two of the finest representatives of HM Armed Forces in parliament have taken it upon themselves to do, in light of the Tory party going a bit JG Ballard. Captain Ben Wallace of the Scots Guards
The WhatsApp message doing the rounds in Westminster yesterday was succinct: ‘Rishi PM. Hunt CX. Penny FS. And it’s a done deal’. Except that the only thing that’s ‘done’ is the Conservatives as a credible party of government. If there is indeed a stitch-up, one that sees the installation of the beaten leadership candidates as prime minister,
With Jeremy Hunt installed as the representative Sensible and Penny Mordaunt answering questions in the House, Liz Truss has been reduced to politely cheering on the people actually in charge. Those in Westminster seem to think that her chances of leading the Conservatives into the next election are comparable to the chances of discovering Lord Lucan and
Is low unemployment causing us more problems than we realise? The suggestion might seem absurd, offensive even. It’s reminiscent of the days of Mrs Thatcher’s supposedly ‘cruel’ monetarism, when we had three million unemployed. Some on the fringes liked to argue that unemployment was good for the economy because it made people work harder, being
Two years ago on Sunday Samuel Paty was brutally murdered by an 18-year-old outside his school in a Parisian suburb. The teacher’s crime was to have shown an image of the prophet Mohammed during a class discussion on the freedom of expression. Paty’s killer was a Chechen, and it’s noteworthy that the two other
The Christian Roman Emperor Theodosius had the Delphic Oracle smashed up in 390 AD, but the gifts of the old gods were already well on the way out. The Sibylline Books were burned shortly after. Scrying glasses across the ancient world had misted over. The prophets fell silent. Well, they hadn’t seen that coming. It
Finally, we hear from the Prime Minister. Liz Truss has given an interview to the BBC’s political editor Chris Mason. It comes at the end of a day in which she was accused of ‘hiding under a desk’ and emerged in the Commons only for a silent half an hour of blinking occasionally. She apologised,
Jeremy Hunt’s statement to the Commons underlined that he is now running the government. This wasn’t just evident from what he said, but from what was happening as he said it. The Chancellor spoke with the Prime Minister sitting behind him in silence, barely moving save to blink. Liz Truss had belatedly entered the chamber
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This afternoon Leader of the House Penny Mordaunt stepped in for Liz Truss to field an urgent questions called by the Leader of the Opposition. What could the Prime Minister have been doing which was so urgent that she couldn’t attend? Also on the podcast, after Jeremy Hunt reverses nearly all of Trussonomics, will there
Jeremy Hunt set out at the start of the weekend with one goal in mind: that when the gilt markets reopened on Monday, the cost of government borrowing would not surge further. Ideally, it would start to fall. In this sense, it’s been a successful day for the new Chancellor. The Treasury’s early morning update
Hear Ye Hear Ye! The news today has broken that Kanye West – who calls himself Ye – has bought Parler, the Trumpist social media platform. The news was announced earlier by Parler CEO George Farmer, the son of Lord Farmer, the Conservative peer. ‘This deal will change the world and change the way the world thinks
When the phrases ‘the Prime Minister is not under a desk’ and ‘I don’t think there has been a coup’ are put forward by a minister tasked with defending their boss, it’s a sign that the parliamentary session has not gone to plan. This was the case this afternoon when Penny Mordaunt was sent to
Every revolution has its victims and Jeremy Hunt’s counter-coup is no exception. The new Chancellor’s return to office has meant a clear out of Kwasi Kwarteng’s aides as the special adviser merry go-round continues at pace. The age of ministers being told to hire from a No 10 approved-list of nominees is over: Hunt instead
Oh dear. Liz Truss ducked the opportunity to come to the House to explain Jeremy Hunt’s U-turn earlier today. So instead it was the turn of Penny Mordaunt – ‘the real PM’, her supporters jibe – to come to the Commons and defend the shambles of the past fortnight. Mordaunt, in her capacity as the
After trying to reassure the markets by junking almost everything Liz Truss announced in her mini-Budget, Jeremy Hunt briefed Tory MPs about his premiership – sorry, plans as chancellor. The mood of those emerging from the briefing was probably the best Tory MPs have been in since the government U-turned on the 45p rate at
Spiraling markets and grim-faced MPs don’t always make for the best of television viewing. Indeed, given the ongoing case in Westminster and Whitehall, farce seems much more appropriate. So Mr S was delighted to stumble across a well-crafted animation from Colin McQuaid which reimagines the Muppet Show intro but with the Tory government instead. Forget
The safest place for a minister to be in a crisis is at the despatch box of the House of Commons, one old hand used to say. His argument was that at the despatch box you at least had a modicum of control, you could respond to events in your own words. But Liz Truss
18 min listen
Chancellor Jeremy Hunt gave a statement this morning in which he outlined plans to scrap ‘almost all’ the tax measures announced by his predecessor, Kwasi Kwarteng just four weeks ago. In one of the largest U-turns in history, the markets have become the most important force in British politics. James Forsyth, Katy Balls, Kate Andrews
Liz Truss needs an exit strategy. Unless she can eke past Canning’s 119 days, the Prime Minister will go down in history as Britain’s shortest-serving premier. That ignominy will only be compounded by the absence of a legacy. Nothing is going to overshadow a fleeting and calamitous spell in No. 10, but there are scraps
In a few hours’ time, Liz Truss will have to sit next to Jeremy Hunt as he announces the reversal of all but a handful of measures announced in Kwasi Kwarteng’s mini-Budget. It is the biggest and most rapid U-turn in recent British political history. The Prime Minister will sit there as her agenda –
What is the point of Liz Truss’s government? Expect more MPs to ask that question today after Jeremy Hunt’s statement tearing up the not-so-mini Budget. The new chancellor has just announced in an address that he will be scrapping every tax cut in Truss and her then-chancellor Kwasi Kwarteng’s fiscal event bar the reversal of
When Jeremy Hunt took the role of chancellor last week, he was thought to have done it under instructions from Liz Truss that he was not to roll back any more of the mini-Budget. That instruction hasn’t stuck. Today’s update on the ‘medium-term fiscal statement’ was not so much a detailed plan to balance the
The government’s position has become so precarious – and its credibility with the markets so low – that even waiting another two weeks to announce the ‘medium term fiscal statement’ became too big a gamble. By moving the announcement forward to today, Jeremy Hunt is removing the uncertainty of creating a two-week gap between the
As Iranian munitions have hurtled through the air at the front line in the Donbas, and as Iranian suicide drones have smashed into Ukrainian cities, Tehran has denied everything – unconvincingly. The most recent was Iran’s foreign minister, Hossein Amirabdollahian, who said on Saturday: ‘The Islamic Republic of Iran has not and will not provide any
Trussonomics is dead, long live Treasury orthodoxy. New Chancellor Jeremy Hunt unpicked the bulk of his next-door neighbour’s policy agenda on TV this morning, telling the nation that nearly all of the tax measures that have not started legislation would now be reversed. Income tax will now remain at 20 per cent ‘indefinitely’, the free
The chip war between China and America is heating up, with an increasingly assertive Joe Biden battling with Xi Jinping as he enters his third term as Chinese leader. The US last week further restricted China’s access to advanced American know-how, in what were some of the most stringent export controls for decades. Xi didn’t mention
Just two weeks ago, Liz Truss told the Tory conference that her priority was ‘growth, growth and growth’. But how much of that can she expect now that her new Chancellor plans to jack up corporation tax from 19 per cent to 25 per cent as the economic headwinds strengthen? As she never tired of
As the Labour party’s lead reaches 27 per cent or more, it would be easy to place the entirety of the blame on Liz Truss. That doesn’t mean it would be fair; the effort to alienate all but the most hardline tribal Conservative supporters has been a joint effort across 12 years and multiple prime
It is not easy to feel sorry for Liz Truss. She has a deeply unattractive streak of vanity – when in the Foreign Office, she seemed more interested in posing for the official photographers who trailed her round than she did in building relationships with the places she visited. She campaigned hard and sometimes dirty
In a sign of how nervous the government still is about the state of the gilts market, the Treasury has just made a pre-market announcement that Jeremy Hunt will bring forward further measures from the ‘Medium Term Fiscal Plan’ today – in other words, more measures from the mini-Budget will be abandoned. The Treasury says
How much trouble is Liz Truss in? Just six weeks into her premiership, the Prime Minister’s economic plans are in tatters after she axed her chancellor Kwasi Kwarteng, reversed on her campaign pledge to scrap the scheduled corporation tax hike and brought in Jeremy Hunt as his successor. Now Hunt is calling the shots on
Liz Truss is now prime minister in name only: Jeremy Hunt, her chancellor of the exchequer, now holds power. He has repudiated her tax-cutting mini-Budget in a round of media appearances – his performances being far more convincing than Truss’s graceless eight-minute press conference on Friday. His admission that spending cuts will be needed and