George osborne

This time last year, George Osborne was the Chancellor of the Exchequer and tipped to be the next Prime Minister. One year on and — in the aftermath of the Brexit result — the MP for Tatton is now a backbencher. Happily, Osborne had a chance to reunite with his old Cabinet friends, aka ‘besties’ — as the host of the Spectator’s Parliamentarian of the Year awards. Like or loathe Osborne, his speech was sensational. Following a turbulent year in politics, tonight’s gongs made for some interesting acceptance speeches. While Sadiq Khan paid tribute to his mayoral rival Zac Goldsmith for helping him to achieve his large mandate, Boris Johnson

So now we know. The recession that we were told would be ‘inevitable’ if we voted to leave the EU was not quite so inevitable after all. In fact, it hasn’t happened at all. The Office of National Statistics’ first estimate of economic growth for the third quarter has the economy growing by 0.5 per cent. Though this is just an early estimate and could well be revised – revision upwards or downwards of 0.1 to 0.2 per cent are perfectly normal – it is certainly not indicating a recession, which would be two quarters of negative growth. It is pretty much in line with how the economy was growing

I would like to think that the lack of obvious progress on negotiating a post-Brexit deal with the EU is, as Theresa May said this week, part of a strategy – that there is a lot going on behind the scenes but it is not in our interests for the Government to give a ‘running commentary’ on it. But listening to the foreign secretary speaking before the Commons foreign affairs committee I am beginning to wonder. Maybe, actually nothing is going on. Top of Boris’s ‘to do’ list, it seems, is not securing trade deals with the world beyond the EU. It is securing himself a royal yacht on which

Today it was a case of the ghosts of governments past as George Osborne, Michael Heseltine and Vince Cable were hauled before the Commons Business Committee to discuss the UK’s industrial strategy. What followed was a bit of a love-in as Heseltine commended Osborne for his time in the Cabinet – praising Cameron’s government for working on industrial strategy ‘on a bigger scale than any previous government’. Less popular during the session were the Brexit bunch. Heseltine mocked May’s three Brexiteers – Liam Fox, Boris Johnson and David Davis. When asked by Richard Fuller how important it was for Britain to secure free trade agreements, he jokingly replied that he

Under David Cameron, it was sometimes tricky to tell who was in charge at the DWP. Iain Duncan Smith favoured a softer approach to welfare reform while over at the Treasury, George Osborne’s interventions were more nakedly political. It all came to a head in March when IDS resigned after Osborne announced £4bn of cuts to disability benefits. That was just over six months ago and seems like a distant memory in the pre-referendum haze. Yet it’s rapidly becoming clear that under Damian Green, things will be very different at the DWP. As with other areas of Government, Theresa May’s work and pensions secretary has marked a signal departure with

Philip Hammond is a very different kind of Chancellor than George Osborne. Osborne’s conference speeches ranged across the policy landscape; Hammond’s was tightly focused on his brief. You wouldn’t have known from it that Hammond had been Foreign Secretary until a few months ago. On the economy, Hammond confirmed that the government was no longer targeting a surplus by 2020. Hammond, sounding less downbeat about Brexit than he had on the radio this morning, was clear that there will be a fiscal stimulus announced in the autumn statement. Hammond also talked about how to raise productivity, his favourite subject. One striking feature of Hammond’s speech was how he repeatedly emphasised

Well, that didn’t take long. George Osborne has had dinner with the FT and the write-up shows him as ambitious as ever. Having never held down a job outside of politics, the former Chancellor isn’t looking for one now. ‘I am not going anywhere,’ he said, ‘I want to see what happens next.’ It seems he is angling for Christine Lagarde’s job at the IMF, but the most striking quote is about his leadership ambitions: ‘Asked about a possible return to the front line, Mr Osborne adopted — with a twist — a phrase used by Mr Johnson in 2013 to deflect questions about his prime ministerial intentions: ‘If the

The Brexit bounce continues. HM Treasury has today released forecasts of the economists it follows, as it does every month. Last time, there was a flurry of downgrades and forecasts of an immediate recession. Now, these forecasts are being torn up by everyone, including by the FT (although you can bet the FT won’t report on the upgrades as eagerly as it did the downgrades). The average new forecast suggests GDP will grow by 1.8 per cent this year, far better than the 1.5 per cent forecast last month. This back to where the consensus was before the Brexit vote. The OECD, which had previously predicted “immediate” uncertainty after a

After just eight weeks in the wilderness, George Osborne is back – and wants to put the pressure on Theresa May to use the phrase ‘Northern Powerhouse’ and the agenda that goes with it. Here’s an edited transcript of his BBC Today Programme interview this morning with Nick Robinson. NR: We want to talk about the Northern Powerhouse, but just to be clear then, you’re not tempted to follow your now ex-leader out of politics and spend some time writing your memoirs? No, I’m not. I don’t want to write my memoirs because I don’t know how the story ends and I want to hang around and find out. And

On the morning of the 24th June, Britain woke to find its stock market shattered and its pound pummelled. It appeared – for a brief moment – like all the prophecies of the Brexit doomsayers, not least the Great Seer Osborne, had come true. But then, from the wreckage of that mid-summer morning, green shoots began to appear, and now, more than two months down the line, it seems that Britain has bounced back. In his cover piece this week, Ross Clark argues that the Remain campaign fell victim to the perils of believing their opinion to be ‘objective fact’, and that economic recovery has humiliated the Treasury, Bank of

In the referendum run-up, we were inundated with warnings and messages of doom and gloom about the untold damage Brexit would unleash – and unleash immediately. It took a pub boss – Tim Martin, the founder of JD Wetherspoon’s – to add a bit of perspective. Why, he argued, would consumer sentiment plunge of a majority voted Brexit and got what they wanted? Why, if we wouldn’t actually leave the EU for two years, would the economy fall of a cliff? At the time, he was mocked for knowing nothing more than how to pull pints. But now, with the prophecies of economic woe having failed to materialise, it seems he was more

On the morning of the 24th June, Britain woke to find its stock market shattered and its pound pummelled. It appeared – for a brief moment – like all the prophecies of the Brexit doomsayers, not least the Great Seer Osborne, had come true. But then, from the wreckage of that mid-summer morning, green shoots began to appear, and now, more than two months down the line, it seems that Britain has bounced back. In his cover piece this week, Ross Clark argues that the Remain campaign fell victim to the perils of believing their opinion to be ‘objective fact’, and that economic recovery has humiliated the Treasury, Bank of