Kate Andrews is deputy editor of The Spectator’s World edition.
16 min listen
If Labour wins the next election, will Keir Starmer have any money to spend on his programme of government? In a piece for the Times yesterday, journalist Philip Collins says it won’t, and he thinks Labour is suffering because of this constraint. How can Labour be intellectually interesting if the government purse strings are so tight? Fraser
The Office for National Statistics reports this morning that public sector net borrowing in July came in at £4.3 billion. This is the fifth-highest July borrowing month since records began, with an additional £3.4 billion being spent to fund the government’s spending pledges compared to July last year. Still, there is fast talk of room for manoeuvre
It’s no great secret that the events of the past few years have delivered a serious economic blow to the UK. But just how many years has the country been set back? This morning the National Institute of Economic and Social Research has published its updated ‘Economic Outlook’ which digs into some of these figures, erring on
The government’s objective to ‘halve inflation’ by the end of the year seems to be back on track – for now. Last week’s interest rate hike was delivered with an updated inflation forecast from the Bank of England, showing the rate slowing to 4.7 per cent by the end of the year, just below Rishi
Last summer, all the Tory party could talk about was tax. It was at the heart of the leadership contest and the dividing line between Liz Truss and Rishi Sunak. The then foreign secretary promised to move fast and bring in deficit-financed tax cuts; the former chancellor said this would end in tears and instead
Most people will not see their estates subject to inheritance tax. Still, most people oppose the principle of the tax altogether. New polling from Ipsos confirms, once again, how loathed the death tax is: 23 per cent of people perceive the tax as ‘fair’ (tied for the lowest ranking, alongside stamp duty). Meanwhile 43 per cent of
9 min listen
The High Court has ruled that Sadiq Khan can expand the Ultra Low Emission Zone, after five Tory councils challenged the proposed policy. Will Keir Starmer be happy that a Labour mayor has won the day? Natasha Feroze speaks to Katy Balls and Kate Andrews.
Every country that imposed a lockdown during the pandemic accepted that there would be an economic price to pay. But governments hoped that, on this measure, their own nation would fare better than others. The objective here was simple: don’t be the ugliest country of the bunch. Now, with some distance between those lockdowns and
12 min listen
Natasha Feroze speaks to Kate Andrews and Fraser Nelson about the sudden decision for the NatWest boss Alison Rose to hand in her resignation. Prompted by the Nigel Farage Coutts bank account scandal, the bank’s CEO faced mounting pressure to resign after late last night No.10 said they had serious concerns over the bank’s actions.
The NatWest saga is fast becoming a textbook example of what some consider to be an ‘establishment’ attack on minority (and often right-leaning) viewpoints. The fast U-turn from the NatWest board which now sees Dame Alison Rose out of a job (Mr Steerpike has the details here) confirms that this was not a nuanced or two-sided
Two by-election defeats have made it a miserable morning for the Tories, even if they did manage to cling on in Uxbridge. But they’ve had better-than-expected news on another front. This morning’s update from the Office for National Statistics (ONS) reveals that public sector net borrowing has come in lower than what was forecast at the
15 min listen
Katy Balls speaks to Kate Andrews and James Heale about today’s inflation figures and the latest news about the Conservative Mayoral candidate for London – Susan Hall.
The rate of inflation has fallen again. CPI rose 7.9 per cent on the year in June, down from 8.7 per cent on the year in May. This takes the headline rate back to its lowest level since March last year – although it remains the highest across major economies. A drop in motor fuel
It’s been more than two days since Keir Starmer told the BBC’s Laura Kuenssberg that Labour would keep the two-child benefit cap, yet the party seems no closer to finding resolution on the issue. The pushback within the party has been intense, with plenty of people (including, reportedly, members of the shadow cabinet) asking how
21 min listen
Advanced economies are not seeing the economic growth that they once did, and none more so than the UK where there has been little productivity or real wage growth since 2008. What factors have contributed to this? Which industries will be at the forefront as we chart a path towards a high-growth British future? Kate
13 min listen
It looks like the summer could be about to get a whole lot easier after the government announced that millions of public sector workers will get a pay rise between 5 and 7 per cent. In a press conference this afternoon, Rishi said this was the governments ‘final offer’ and the result of consultation independent pay review
The economy contracted by 0.1 per cent in May – down by 0.4 per cent compared to May 2022. But this dip is largely being attributed to the extra bank holiday for the King’s Coronation. This morning’s update from the Office for National Statistics shows some changes in behaviour due to this one-off occasion, including
What will Liz Truss’s legacy be? The obvious answer is her 49-day stint in Downing Street. But she is determined not to settle for that. Today in Westminster, she oversaw the formal launch of her new project, The Growth Commission, dedicated to spreading the message she tried to convey as prime minister: the importance of
Mortgage costs have reached a 15-year high today, with the average two-year fixed deal hitting 6.66 per cent – the highest level since the summer of the 2008 financial crash. But today’s mortgage news is being pegged to far more recent history, as average deals just topped their peak from last autumn, when Liz Truss’s
The labour market continues to show signs of becoming less tight – but this won’t be fast enough for the Bank of England’s liking. The UK unemployment rate rose to 4 per cent – up 0.2 per cent on the quarter. But this relatively small change is indicative of more people moving off the economic