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Will the SNP come to its senses on North Sea oil?
Drill, baby drill. The mood on Net Zero is changing in the Scottish parliament where a majority of MSPs have signed a petition calling for a reversal on the ban on new oil and gas licenses in the North Sea. This sea change in attitudes to the black stuff, if you’ll excuse the pun, could
Will the IMF regret its backing for Labour’s Budget?
International investors may be jittery about the UK’s future, but the International Monetary Fund appears to be more optimistic. The IMF has published its World Economic Outlook report for January, which forecasts the UK will have the third-fastest growth in the G7 this year. It revises upwards its projection for 2025, by 0.1 per cent,
Rachel Reeves tries deregulation, but she’s bad at that too
If it was a Netflix mystery series, it would be the moment for the ‘big reveal’. After months of boasting about how she would make the UK the most competitive, dynamic, and indeed fastest growing economy in the G7 we finally have some idea of what Rachel Reeves is going to do to deregulate the
Regulators don’t create growth
Perhaps you could gather a group of traffic wardens and ask them how to build a racetrack. Or get the leaders of the Salvation Army over to suggest some cool ideas for a cocktail bar. Think up any improbable brainstorming sessions, and it will still be hard to imagine anything more awkward than the gathering
The UK economy is in a rut
The UK economy has grown for the first time in three months. The Office for National Statistics (ONS) reports that the economy expanded by 0.1 per cent in November after it contracted by 0.1 per cent in both September and October. This uptick is largely thanks to an increase in services output, which grew by
Why inflation figures may have given Labour false confidence
The relief from Downing Street at yesterday’s inflation data – which showed that it dipped to 2.5 per cent in the 12 months to December, down from 2.6 per cent the month before – was palpable. Darren Jones, the Chief Secretary to the Treasury, cast a breezy image as he described his boss, the Chancellor Rachel
Inflation dip marks a welcome surprise for Rachel Reeves
Rachel Reeves has found brief respite this morning, with the Office for National Statistics confirming that inflation dipped to 2.5 per cent in the 12 months to December, down from 2.6 per cent the month before. This is a smaller rise than had been expected (the consensus was 2.6 per cent) and roughly in line
How much longer will Starmer back Reeves?
It’s not been a happy new year for Sir Keir Starmer. The Prime Minister’s Treasury minister Tulip Siddiq has been forced out following an anti-corruption investigation in Bangladesh. Siddiq’s job became untenable following questions over links to her aunt, the former prime minister of Bangladesh, Sheikh Hasina. Siddiq has denied wrongdoing and an independent investigation
Rachel Reeves is getting ready for the next market test
Rachel Reeves did her best to keep today’s China visit statement on topic. The Chancellor wanted to talk about ‘cooperation’, ‘competing where our interests differ,’ her efforts to break down market barriers and the £600 million she secured in investment. But other MPs had other ideas. ‘I know the Chancellor has been away,’ said the
Why Westminster is wrong about gilt yields
It’s gilts season at Westminster. This is one of those unpredictable events, like the passing of a comet, that sees the residents of the political village staring at the skies and imputing all sorts of divine causes to the curious flashing lights they see there. Because of the ongoing excitement in the markets, a lot