George Osborne’s two fiscal rules have been around since his very first Budget, delivered almost two years ago, so they’re hardly news. But they do underpin much of what he’s done since, including last week’s statement, so they’re also worth knowing about. Fraser touched on ome of the detail in a post last weekend, but here’s a
There is no PMQs today, so Ed Miliband is filling the time as gainfully as he can with a speech bashing the Tories. Unsurprisingly, he’s making rather a lot of last week’s Budget — particularly the 50p tax cut and the frozen personal allowance for pensioners — as well as of Peter Cruddas’s recent indiscretions.
Introducing Ed Miliband, Labour’s best hope since Tony Blair. Oh, I’m kidding, of course — but it’s still striking that, this morning, Labour have their biggest lead in a ComRes poll for seven years. And the size of the lead? Ten points, but it could be even bigger. The Peter Cruddas revelations fell right in
14 July 2010, dinner at No.10 Anthony and Carol Bamford Michael and Dorothy Hintze Murdoch and Elsa Maclennan Lord John and Lady Sainsbury Andrew Feldman Jill and Paul Ruddock Mike and Jenny Fraser Michael and Clara Freeman 28 Feb 2011, dinner in the flat David Rowland and Mrs Rowland Andrew and Gabby Feldman 2 Nov
One distinct feature of the ‘cash for access’ row is that we’ve seen it all before. And not just the glutinous mix of politics and money, but also the debate over what should be done to fix it. Last November, Sir Christopher Kelly, chair of the Committee on Standards in Public Life, released a report
The happiest news for David Cameron this morning is that the ‘cash for access’ story hasn’t quite made it onto every front page. But that’s it, really, so far as the glad tidings are concerned. All the rest is poison for No.10. The Prime Minister is now fighting off calls — including from his own
‘It will be awesome for your business.’ So said Peter Cruddas, co-treasurer of the Tory party, as he tried to peddle access to David Cameron for £250,000 a shot. Only he wasn’t talking to businessmen this time; he was talking to a couple of investigative reporters from the Sunday Times (£), who were armed with
Four days after George Osborne signed its death warrant, there is still life in the 50p rate yet. The two main political interviews in today’s papers — Ed Miliband in the Telegraph, Danny Alexander in the Times (£) — both focus heavily on the top rate’s impending demise. The Labour leader, of course, is continuing
How significant was this Budget? On an economic level, not very. There’s no discernible impact on growth: all of the main forecasts have more or less stayed the same since the Autumn Statement. Borrowing is the tiniest bit lower, mainly thanks to a £23 billion accountancy trick with Royal Mail pensions. And even many of
PMQs and Budget live blog
Thanks to Budget purdah, we’re all in the dark about what will be in George Osborne’s Red Book today. Oh, sorry, that’s wrong, don’t know what I was thinking. Truth is that, unless the Chancellor has some monumental surprises lined up, we’ve actually heard about much of the Budget in advance. We know, for instance,
Why did Gordon Brown wait until the last few weeks of Labour’s thirteen-year reign to implement a 50p tax rate? Easy. Because it wasn’t so much a fiscal policy as a fiendish trap, designed to cut into a Tory government’s flesh. But now, it seems, the trap has snared another victim: Labour itself. The Telegraph’s
The Queen has just delivered her Diamond Jubilee address to Parliament, which you can watch below. CoffeeHousers will be terribly disappointed, I know, that the video doesn’t include John Bercow’s lengthy introductory remarks, which didn’t appear to impress David Cameron:
Transparency marches on, and what a joy it is. According to the newspapers today, George Osborne will tomorrow turn Ben Gummer MP’s call for tax transparency into government policy. And so we will all get statements detailing just what our tax pounds are spent on. To use the example being bandied around this morning, a
Here are some numbers for you: the adult rate of the national minimum wage will be raised, this October, by 11p to £6.19 an hour, but the separate rates for 16-17 and 18-20 year-olds will be frozen, at £3.68 and £4.98 respectively. I mention this not just because these figures were announced today, but also
Are we facing ‘toll road UK’, as the Mirror suggests this morning? That is certainly a possibility arising from David Cameron’s plan to allow private firms to bid for chunks of Britain’s motorway system — but I wouldn’t get too excited just yet. It’s a very distant possibility at the moment. After all, just note
‘A Budget for Working People’. That’s the headline theme of this year’s Budget, says our former editor Matt d’Ancona in the Sunday Telegraph today. And his words are borne out by George Osborne’s interview with the Sun on Sunday. ‘We’ve got to help people into work, particularly young people,’ says the Chancellor, ‘We have to
Normally, pre-Budget interviews with shadow chancellors are dry and methodical. But the Times’s interview with Ed Balls (£) today is the opposite: frenetic, relatively non-fiscal and utterly, utterly strange. Given that CoffeeHousers are probably waking up to brunch, I thought it might be a bit much for you to wade through his thoughts on food
No wonder David Cameron and Barack Obama were being so chummy: they both knew that they could help each other. The Times carries an intriguing story (£) on its front page this morning, about how the two men discussed a plan to get fuel prices down in the UK and the US. The idea is
Afghanistan, what now? After a week of death and retaliation in the country, it appears that a car bomb has been detonated on the runway at Camp Bastion — probably aimed at the visiting US Secretary of Defence, Leon Panetta. A spokesman has since said that ‘at no point was anyone on board Mr Panetta’s
