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Rachel Reeves’s tax raid is to blame for rising unemployment
Unemployment has hit 4.7 per cent – its highest level for four years after the Chancellor’s taxes on business caused jobs to slump. The figures, published this morning by the Office for National Statistics (ONS), also show payroll jobs down by 178,000 in the 12 months to June and by 41,000 between May and June.
Cutting bank holidays for French workers is a bad idea
Banning the baguette, perhaps? Or making it compulsory to eat a sandwich at your desk at lunchtime? If you think hard enough, it is possible to imagine reform that would create more anger in France. Even so, prime minister Francois Bayrou’s plan to scrap two public holidays is right up there. Bayrou wants to reduce
Rising inflation shows how the Bank of England is failing
The rate of inflation climbed to 3.6 per cent in June – up from 3.4 per cent in May. That’s well above the 2 per cent target that the Bank of England consistently misses. It begs the question why the Bank’s governor, Andrew Bailey, spent the weekend talking up rate cuts, when as one former
No, Rachel Reeves: Britain doesn’t look ‘open for business’
Rachel Reeves wants Britain to become a shareholder democracy. In her annual Mansion House speech to the City’s bankers, accountants and financial advisors, she said ‘for too long, we have presented investment in too negative a light’. She’s right. These changes are unlikely to unleash the ‘big bang’ of prosperity and tax revenues the Chancellor
Bribing motorists to buy electric vehicles is an expensive mistake
At last, the government has found a use for that large pile of surplus money which has been causing it such a headache: it is going to bribe motorists with grants of up to £3,750 to buy an electric car. If that sounds familiar, it is because the previous, Conservative government had a similar scheme,
Rachel Reeves’s ‘Big Bang’ is doomed
We probably won’t see the return of shoulder pads, big hair, or yuppies swilling champagne in the bars around Liverpool Street. Even so, the Chancellor Rachel Reeves will promise a return to the go-go spirit of the 1980s in her Mansion House speech this evening, with a pledge of ‘Big Bang’ style deregulation to boost
Badenoch is right: the benefits bill could cripple Britain
‘We are becoming a welfare state with an economy attached,’ said Kemi Badenoch in a speech on sickness benefits today. She’s right, though anyone who read the Office for Budget Responsibility’s (OBR) dire report this week knows we’re past becoming: we already are. The figures are staggering. The bill for sickness benefits is heading towards £100
Wes Streeting is right to take on the doctors
The public won’t forgive and nor will I, said Health Secretary Wes Streeting of plans by junior doctors to strike over his refusal to cave to demands for 29 per cent pay rises. Speaking to the Times he said: ‘There are no grounds for strike action now. Resident doctors have just received the highest pay award across the
Britain is heading for economic catastrophe
Britain is in trouble. That’s the judgement of the Office for Budget Responsibility (OBR) in their ‘fiscal risks and sustainability’ document released this morning. The language is polite, matter of fact and bureaucratic. But read between the lines, look at the numbers and it paints a damning picture of the risks we face as a country.
Britain’s state pension is about to blow
Health Secretary Wes Streeting says that the changes to the Welfare Bill will ‘give people peace of mind’. Perhaps for some, but certainly not economists. Britain’s welfare crisis is staggering – £313 billion a year is spent on disability payments, Universal Credit, winter fuel payments, Motability, child benefit, and, most expensive of them all, the