Rachel reeves

Thursday

Katy Balls

Labour’s popularity contest

A few months ago, over a plate of bone marrow, a Tory adviser was considering how best to kneecap Labour. With the government’s working majority at 168, opposition debates could only go so far. Viral attack videos were hard to come by and CCHQ was depleted. Then the adviser hit upon something: a league table of cabinet ministers ranked by the Labour membership. It was an idea that arose from bitter experience. The Conservative-Home website has for years been running a grassroots ranking, showing which ministers were favoured by party members. It has proved such an accurate tracker about who was in pole position for any tilt at a leadership

Tuesday

Oscar Edmondson

Could Cabinet turn on Reeves?

13 min listen

Hard hats on for the Spring Statement tomorrow, where at around midday Rachel Reeves will deliver her fiscal update (read: significant fiscal set piece). Aside from not spooking the markets, the Chancellor will be hoping that she doesn’t spook those within her own party. There are rumours of discontent circling around Westminster about a potential Labour split. We have already seen secretaries of state briefing out their discontent over potential departmental cuts. Ministers have also been breaking rank this week to criticise Rachel Reeves for accepting free Sabrina Carpenter tickets. Can she keep the party united? Oscar Edmondson speaks to Katy Balls and John McTernan, former political secretary to Tony

Sunday

Katy Balls

For Rachel Reeves the worst could be yet to come

Rachel Reeves has spent the morning touring the broadcast studios as she attempts to pitch roll for Wednesday’s Spring Statement. While this was never meant to be a big fiscal event, it has taken on a new significance as a result of the worsening public finances. The Chancellor is looking for billions in savings with the OBR expected to slash its growth forecast and for rising borrowing costs to have wiped out Reeves’s £10 billion of fiscal headroom. Speaking this morning, Reeves tried to put the unappetising options she faces down to a changing world as a result of global instability part related to Donald Trump and tariffs as well

Thursday

Rupert Harrison

It’s time for Rachel Reeves to stop gambling

Next Wednesday Rachel Reeves will stand up in the House of Commons to deliver what she is calling her ‘spring forecast’. As so often with political language, everyone in Westminster knows it is no such thing, just as there was nothing ‘mini’ about Kwasi Kwarteng’s Budget of September 2022. The ‘spring forecast’ will be an emergency Budget, and the reasons for it reveal a surprising truth about the Chancellor of the Exchequer: she is an inveterate gambler. Unless everything turns out to be a brilliant exercise in expectation management, the worst-kept secret in Whitehall is that Reeves has already broken her ‘iron-clad’ fiscal rules. The Chancellor’s team will receive the

Katy Balls and Michael Simmons

‘Austerity is back’: Inside Labour’s emergency budget 

Dominic Cummings may have left Whitehall but his spirit lives on. Pat McFadden, the Chancellor of the Duchy of Lancaster, has repurposed Cummings’s call for ‘weirdos and misfits’ as a plea for ‘innovators and disruptors’. Downing Street this month launched an ‘AI Ideas’ competition in pursuit of bright sparks. A hackathon will follow. In No. 10 and 11, aides channel Cummings’s language as they talk of acting as an ‘insurgent’ government. ‘We’re all Dom now,’ says one government figure. In one area, Cummings’s influence on the new government is most apparent: the diagnosis of a failing state. Keir Starmer’s chief aide Morgan McSweeney has never met Cummings, but these days

Friday

James Heale

The UK economy is shrinking – how much pressure is Rachel Reeves under?

14 min listen

New figures from the Office for National Statistics show the UK economy unexpectedly shrunk by 0.1% in January. This comes only a few weeks after the Chancellor’s pro-growth speech, and a fortnight ahead of her Spring Statement. Just how much pressure is Rachel Reeves under? And how likely is it that Labour will change their approach? Economics editor Michael Simmons and deputy political editor James Heale join Patrick Gibbons to discuss, as well as a look ahead to next week’s expected announcement on reducing the welfare bill. Produced by Patrick Gibbons.

Thursday

Martin Vander Weyer

BMW’s Oxford retreat signals deep trouble for UK carmaking

Among British car factories, Nissan at Sunderland is the most productive and Jaguar Land Rover at Solihull probably the most advanced. As for industrial landmarks, the former British Leyland complex at Longbridge is reduced to a research and development facility for Chinese-owned MG; but ‘Plant Oxford’ at Cowley, the original home of Morris Motors now owned by BMW of Germany, still produces 1,000 Minis per day. And BMW’s decision to halt a £600 million project to build electric Minis there is, I fear, a moment of destiny for the whole UK auto industry. The truth is that the transition to electric cars has descended into chaos. Total UK car production

Wednesday

Oscar Edmondson

Why Rachel Reeves is safe, for now

14 min listen

Foreign affairs are inescapable this week, with the readout from the meeting yesterday between Russian and American diplomats in Saudi Arabia. We understand that Trump told Putin that Ukraine will be part of the next round of peace talks. However, Trump’s shock-and-awe foreign policy continues to deliver significantly more shock than awe, especially after he seemingly blamed Ukraine for starting the war. What is he thinking? Could there be more to Trump’s foreign policy than he is letting on?  Back in the UK, pressure is mounting on Rachel Reeves as more inaccuracies in her CV come to light, and inflation rises to 3 per cent. There have been murmurs that

Thursday

Daniel Hannan

Reversing our economic decline is not easy, but it is simple

Our immiseration came swiftly and stealthily. At the start of the 21st century, Britain was a prosperous country. Ambitious people fought to come here. We trusted that, over time, we would become wealthier – an expectation that had been accurate for most of the previous two centuries. Since the millennium, Britain and western Europe have pretty much stopped growing – especially if we ignore the impact of immigration and calculate GDP per head. Reversing this slowdown should be the top issue at every election, but it is surprisingly under-discussed. In theory, almost all our politicians want growth. Keir Starmer and Rachel Reeves keep describing it, nasally and tautologically, as their

Dot Wordsworth

Does Rachel Reeves know what ‘kickstart’ means?

To ‘kickstart economic growth’ is the first (‘number one’) of Labour’s five ‘missions’ to rebuild Britain. That is what the manifesto announced last year. The mission is not just economic growth, but kickstarting it. On 29 January, Rachel Reeves, the Chancellor of the Exchequer, said in a speech that she was ‘going further and faster to kickstart economic growth’. I can see that she might be going further, but it is not easy to see what ‘faster’ means here, although it is true that, since economic growth has slowed down since the election in July, there is more opportunity for going faster. I suppose the word kickstart was chosen because

Thursday

Martin Vander Weyer

Britain’s Trumpists should be careful what they wish for

When I visited Toronto with a UK delegation last winter, conversation focused on the issues of immigration, housing and inflation that were contributing to the unpopularity of Justin Trudeau, who finally announced his resignation as prime minister last month. The prospect of Donald Trump’s return to the White House was the slumbering python in the chandelier above the conference table: I sensed our hosts preferred not to think about how bad it might turn out to be. Well, now they know. In response to Trump’s declaration of 25 per cent tariffs on Canadian goods, plus 10 per cent on imported energy, Trudeau retorted with tariffs on many billions worth of

Richard Madeley

I’m torn on capital punishment

There’s no statute of limitations on reporting a government minister’s embarrassing oops-a-daisy. It’s no good them doing a duck-dive, hoping that by the time they resurface everyone will have forgotten all about it. I remember after the Salisbury poisonings in 2018, Gavin Williamson, who was defence secretary at the time, appeared genuinely thrown when I brought up his Vicky Pollard-like comments about the Kremlin (‘Go away and shut up!’) in a live TV interview a few weeks later. I think it’s fair to say the exchange that followed wasn’t his finest hour. So it was when Rachel Reeves appeared on Good Morning Britain last week. It was the Chancellor’s first

Thursday

Martin Vander Weyer

I’m being driven mad by Microsoft Outlook

Call me a cynic, but I suspect this week’s headlines about a revival of Heathrow’s third runway plan amount to little more than a political game. Arguments for and against this project have been aired many times over, from a white paper in 2003 to the Davies Commission’s final report (in favour) in 2015. Much to the detriment of London’s status as a global city, the runway has stayed in the long grass – due to marginal-seat politics under the flight path as much as genuine environmental concern – while no satisfactory alternative at Gatwick or Stansted has ever advanced and the advent of the Elizabeth line is Heathrow’s only

Rod Liddle Rod Liddle

My money-saving tips for Rachel Reeves

It is always upsetting to watch a woman enmired in distress and so I thought I might ride on my trusty charger to the assistance of Rachel Reeves, the Chancellor, with a few suggestions as to where she might make spending cuts. Rachel needs these cuts because she can’t raise taxes and the British economy is lying flat on its back in an alleyway with wee dribbling down its leg. Growth is what we need, plus some serious savings to the Exchequer. Clearly, most civil servants should be sacked – bringing a bounteous gift to the nation’s coffers My first suggestion would be to cut the rate of benefits by

The Spectator

Portrait of the week: DeepSeek, Duke of Sussex’s damages and an iceberg the size of Cornwall

Home The government would invest 2.6 per cent of GDP a year to create growth, Rachel Reeves, the Chancellor of the Exchequer, said in a speech. Standing behind a placard reading ‘Kickstart economic growth’, she kept repeating the word ‘growth’. Welfare and the visa system would be reformed. A third runway at Heathrow would bring 100,000 jobs. But net zero, she said, was the ‘industrial opportunity of the 21st century’. Earlier she had said that the government’s own Finance Bill implementing October’s Budget would be amended to soften the effects of its tax measures against non-domiciled residents. The Ministry of Defence ordered £9 billion worth of nuclear submarine reactors from

Wednesday

Katy Balls

‘Props to Rachel’

12 min listen

Today was the day for Rachel Reeves, as she delivered her big growth speech in Oxfordshire. This was not this government’s first attempt to pivot towards a more business-friendly, growth-generating narrative, but it was its best effort. The headline announcement is, of course, a third runway at Heathrow, throwing her support behind the ‘badly needed’ expansion. However, a lot of what was announced will sound familiar to recently departed Tories, who laid the groundwork for Labour’s plans to properly connect the South East (or the ‘Oxford–Cambridge Arc’, as it has been repackaged). Will Rachel Reeves get her growth? Katy Balls speaks to Michael Gove and Kate Andrews. Produced by Oscar

Monday

Cindy Yu

Is Donald Trump warming to Keir Starmer?

16 min listen

Starmer and Trump have finally spoken, with a 45 minute phone call taking place between the two leaders. The pair reportedly discussed the ceasefire in Gaza, and trade and the economy, with Starmer attempting to find common ground by talking up his plans for deregulation. Cindy Yu speaks to Katy Balls and Kate Andrews about their relationship. Do these early signs suggest it will be wholly positive, or are there thornier issues to come?  Also on the podcast, Rachel Reeves is set to deliver a speech this week outlining her plans for growth – just how important is this week for her? Produced by Patrick Gibbons and Cindy Yu.

Thursday

Katy Balls

Reeves vs Miliband

10 min listen

After last week’s bond market jitters, the Chancellor pledged to go ‘further and faster’ to improve the UK’s anaemic economic growth. It looks as though Rachel Reeves’ hunt for growth could come at the expense of Labour’s green agenda. Reeves is poised to make a series of announcements over the next month, starting with a softened stance on non-doms and approval for Heathrow’s third runway – as well as expansions at Gatwick and Luton airports. The move indicates a shift in priorities, with economic growth taking precedence over climate targets. Ed Miliband, the Energy Secretary, is believed to be privately opposed to the airport expansion scheme. What happened to the

The Spectator

Portrait of the week: Trump’s inauguration, Israel-Hamas ceasefire and cardboard humans comfort lonely fish

Home Axel Rudakubana, 18, pleaded guilty to the murder of three girls in a knife attack at a Taylor Swift-themed dance class at Southport on 29 July 2024, and to ten attempted murders as well as possessing al Qaeda literature and producing the poison ricin. He had been charged with murder on 31 July but police insisted then that the incident was not being treated as terror-related; the culprit was charged with two terrorism offences on 29 October. From 30 July, rioting had swept the country for a week. Now it was disclosed that the murderer had been referred three times to Prevent, the anti-terrorism programme, when he was 13

Wednesday

Oscar Edmondson

Should Rachel Reeves be at Davos?

12 min listen

It’s Davos day two, and Rachel Reeves has touched down in Switzerland to continue her hunt for growth. On the agenda today was a fireside chat with the Business Secretary on ‘The Year Ahead for the UK’, and she will also be attending a series of meetings with business leaders. The party line is that ‘the time to invest in Britain is now’; however, she will be doing this from the sidelines, having not been given one of the headline speaking slots. Can she bring home the bacon? And why is Davos so important? Oscar Edmondson speaks to Katy Balls and Rupert Harrison, former chief of staff to George Osborne.