Kate Andrews is deputy editor of The Spectator’s World edition.
The Tory grassroots have got themselves a real economic debate this summer: Rishi Sunak’s ‘Thatcherite’ economic philosophy vs Liz Truss’s ‘Reaganite’ plans to boost growth. It’s not the most obvious distinction, given the former prime minister and president were great free-market allies. Both also cut tax. But it’s about the order of priorities: like the
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Staying on top of your personal finances has never been easier. Anyone can now buy and sell stocks at the tap of a phone screen, with even more progress in fintech just around the corner. What does this bold new world of investing mean for markets, policymakers and everyday investors? Does smart technology mean easy
Rishi Sunak has a reputation for sleek and snazzy presentation, and his leadership launch this morning was no exception – by Westminster standards, anyway. The air-conditioning was on full blast as young activists lined up with their ‘Ready For Rishi!’ signs, next to heavily branded backdrops. And the guest list was long. MPs in attendance
There’s something strange happening in Tory politics. It’s not surprising to see leadership candidates taking special aim at the current frontrunner Rishi Sunak. But the attacks being used are redefining the economic philosophy of the Tory party in a way that could soon backfire, regardless of who wins the top job.Take, for example, Liz Truss’s
Rather unsurprisingly, the bulk of MPs who have declared their leadership bids so far are promising lower taxes. Also unsurprisingly, very few details are on offer explaining how they’d do it. In Nadhim Zahawi’s early pitch to the public — he is expected to share more tomorrow — he’s asserted that ‘taxes for individuals, families
What does Boris Johnson’s resignation mean for the economy? The pound started its rebound yesterday from a two-year low against the US dollar after Johnson resigned. A few economists were quick to point out though that it had dropped so much, there was only one place it could really go: up. It’s very likely this leadership
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On this week’s episode: Kate Andrews on why Rishi quit (0:26). Sean Thomas on Russian émigrés who hate the war but will fight for Russia (08:32) and Toby Young on his appreciation for the other Toby Young (13.13). Presented and produced by Natasha Feroze.
On Tuesday, the last cabinet meeting with Sajid Javid as health secretary and Rishi Sunak as chancellor passed without any hint that either was about to resign. The ministers did not co-ordinate their resignations, but they had both been tipped over the edge by growing evidence that No. 10 had misled MPs by declaring Boris
We will never know the counterfactuals of the past few years. What if another MP had been made Chancellor when Sajid Javid resigned (the first time)? What if a green chancellor Rishi Sunak hadn’t had a pandemic to manage? While we can’t answer these questions, it’s hard to imagine any MP – certainly on the
Birthday celebrations for the NHS this year are relatively quiet. In recent years the health service has received multi-billion pound top-ups from the taxpayer, not to mention high praise from politicians across the political spectrum. This may be in part because the government has already seen to the big NHS pledges, including the 2.5 per
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Will the government’s plans for revitalising the north be hampered by its plans for decarbonisation? There’s increasing concern in Whitehall that these agendas contradict each other, but there’s no reason that green jobs and projects can’t benefit Britain’s ‘forgotten communities’ too. How do we ensure the north benefits from a greener, more prosperous future? How
The US Supreme Court has not banned abortion. The point made by its ruling – a pretty reasonable one – was that such issues should be decided by elected politicians, not by appointed judges. ‘It is time to heed the Constitution and return the issue of abortion to the people’s elected representatives,’ wrote Justice Samuel
The UK’s economy grew by 0.8 per cent between January and March this year, according to this morning’s update from the Office for National Statistics. This means real GDP is now just 0.7 per cent above its pre-pandemic levels. On the face of it, it’s fairly grim news. The spectacular growth originally forecast for this year, making up
When Boris Johnson was campaigning for Brexit, he placed much importance on World Trade Organisation rules. The WTO, he’d argue, had an internationally-recognised free trade rule book – which was ready and waiting to be used as a substitute to the European Union system. This is why he could face some very difficult questions next
When Vladimir Putin sent his tanks into Ukraine on 24 February, he did so under the assumption that the West was too ruptured and disjointed to pull together a unified response. It was the first of many miscalculations. That same day, Boris Johnson promised ‘massive’ economic sanctions that would ‘hobble’ Russia’s economy to the point
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The latest figures suggest that inflation has risen at the highest rate in 40 years. Now at 9.1 per cent, it’s not all bad because the rate at which inflation is increasing has in fact slowed down. However, on the podcast, our economics editor, Kate Andrews suggests we are nowhere near the peak yet. How worried
Inflation rose to 9.1 per cent on the year in May, taking the UK’s consumer price index to a 40-year-high. Optimists are noting the slowdown in pace, rising by 0.1 per cent between April and May. But I suspect we are in the eye of the storm. This price spiral is nowhere close to over,
The economic lesson of the week is that headlines are often deceiving. Yesterday’s GDP update for the month of April showed a 0.3 percent contraction – but that was largely due to the rollback of state-funded programmes designed to tackle Covid-19. Now today’s employment updates show the headline employment rate up – to 75.6 per
Today’s economic growth figures serve as a reminder that it’s important to be specific about what’s actually being measured. Headline GDP numbers show a contraction of 0.3 per cent in April: worse than what was expected (the forecast consensus was a fall of roughly 0.1 per cent), suggesting a fall in economic activity and output,
As part of his revival (and survival) strategy, Boris Johnson is trying his hardest to convince the public and fellow MPs that he can get the cost of living crisis under control. But did today’s speech help him make that case? His wide-ranging speech in Lancashire covered a vast array of economic, policy and trade
