Kate Andrews is deputy editor of The Spectator’s World edition.
Unemployment in Britain has risen again and is now at 3.7 per cent, up 0.2 per cent on the quarter. It’s a very small change in the grand scheme of things but, perhaps counterintuitively, a change in the right direction. This morning’s labour market update from the Office for National Statistics shows that while the
What is the lasting impact of Liz Truss and Kwasi Kwarteng’s mini-Budget? According to Andrew Bailey, the governor of the Bank of England, the big implications for monetary policy have come and gone. Speaking to the Treasury Select Committee this afternoon about the UK’s financial security, Bailey noted that the spike in both gilt yields
12 min listen
It’s looking like a busy week in Westminster. So busy in fact that prime minister Rishi Sunak will not be attending the annual Davos meeting, organised by the World Economic Forum. His opposite number Kier Starmer will be making the trip however, is this a shrewd move from Labour? Also on the podcast, amended plans
The political and financial elite are gathered in Davos in Switzerland for the World Economic Forum’s (WEF) annual meeting, which starts today. Yet before the conference has even kicked off, the narrative around it has already been crafted: the WEF will have to pivot away from the free-market and globalist outlook Davos usually promotes, and
Rishi Sunak is absolutely right to say, in softer terms, that his family’s healthcare arrangements are no one’s business. There is a reason that one of the core tenets of the Hippocratic Oath is confidentiality: accessing healthcare is a deeply personal and private matter. That’s as true for the prime minister as it is for
35 min listen
Covid 19 has been a crisis without borders. In a highly interconnected world, every country has felt the impacts of the pandemic, from supply chain disruption to low productivity and high inflationary pressures. Should the post-pandemic economic recovery be a global project? For decades, the UK has been a key player on the economic world
45 min listen
Putin’s invasion of Ukraine shocked the world. Whilst fighting is happening in Europe, repercussions have been felt around the globe. Disruption to trade and supply chains means a rapidly worsening outlook for international development, making it harder to reach those that need support the most. Meanwhile the UK’s Covid recovery and the growing fiscal blackhole
Have the prospects of a recession been overstated? That would be the most optimistic reading of this morning’s update from the Office for National Statistics, which released the latest set of monthly GDP data showing 0.5 per cent growth in October. This is the biggest monthly rise since January, when the economy was bouncing back
The NHS England waiting list stands at 7.2 million – and the shadow health secretary is one of them. In an interview with the Sunday Telegraph today, and subsequently on the media round, Wes Streeting is speaking openly about being ‘mucked around’ by the NHS. He has been trying for months now to get a scan
11 min listen
James Heale speaks to Kate Andrews and Katy Balls about Jeremy Hunt’s latest proposals to reform the banking system. Will the ‘Edinburgh Reforms’ kickstart the much-needed growth in Britain’s economy? And is this the Brexit future Rishi Sunak always wanted? Produced by Natasha Feroze.
Rishi Sunak’s government is trying to strike a difficult balance when it comes to discussing economic growth. On the one hand, there is broad consensus that the Liz Truss days (literally… just days) had to be dismantled to regain trust with the markets and retain the UK’s ability to keep borrowing at a stable price.
Over the past few months, Matt Hancock has been seeking forgiveness for his rule-breaking affair during the pandemic. And the former-health-secretary-turned-reality-TV-star has been pursuing redemption in some strange places. He’s been buried six feet underground with snakes; covered in slime, frogs and spiders; and dared to ask the harshest audience these days – the public
This morning’s economic update from the Confederation of British Industry doesn’t make for cheery reading – but it could be worse. The organisation forecasts that the combination of high prices and low business investment will see the UK in recession throughout next year. Having previously predicted a 1 per cent rise in GDP next year,
And so it begins. French energy company TotalEnergies SE has become the first out of the gate to announce a change of plans for investment directly linked to the energy profits levy brought in by Rishi Sunak this spring, and expanded by Jeremy Hunt. The company says it will cut back its investment plan by
Andrew Bailey this afternoon showed that those who start fights don’t necessarily finish them. Speaking as the only witness at the House of Lords Economic Affairs Committee today, the Governor of the Bank of England landed some rather extraordinary accusations against Liz Truss and Kwasi Kwarteng, suggesting that he was not informed of the details
Will NHS Scotland withstand the winter? According to draft minutes of a meeting of CEOs from each health board in September, there is growing concern the health service will not be able to operate normally over the winter months. It ‘is not possible to continue to run the range of programmes’ it reads, before stating
34 min listen
It’s no doubt a depressing time for the British economy, but how much that is the fault of the government, either for getting us to this stage and/or for not setting out a more optimistic exit route? On this episode, Cindy Yu moderates a debate between Fraser Nelson, James Forsyth and Kate Andrews who battle
40 min listen
This week: How long will the pain last? The Spectator’s economics editor Kate Andrews asks this in her cover piece this week, reflecting on Rishi Sunak and Jeremy Hunt’s autumn statement. She joins the podcast with Professor David Miles, economy expert at the Office for Budget Responsibility, to discuss the new age of austerity (00:58). Also
Jeremy Hunt has just announced the most austere fiscal statement since 2010. The Chancellor’s plan to plug the £55 billion black hole in public finances will be achieved with £25 billion in tax hikes and £30 billion worth of spending cuts by 2027-8, taking the tax burden to a post-war high. The economic forecast from
Rishi Sunak has ushered in a new era of austerity, not just Osborne-style spending cuts, but tax hikes as well. His Chancellor, Jeremy Hunt, says the plan is not just to balance the books but to control inflation, and so this will be the theme of the Sunak years: Austerity 2.0. Throughout the leadership campaign,
