George osborne

Wednesday

Fraser Nelson

Jeremy Vine and the truth about government spending

Those who complain about the BBC (myself included) usually only refer to a small part of a massive and divergent operation. Nicky Campbell on Radio 5 is just superb – not a hint of bias in any of his breakfast show. Jeremy Vine, too, is pretty fair and balanced. He has just ran a report on the truth about public spending, asking if we are being deceived about debt. I was invited on to talk about it, as was Sir Simon Jenkins (who wrote about spending in the Guardian here). Our exchange, and the BBC package, can be heard here. listen to ‘Fraser Nelson and Simon Jenkins discuss the deficit’ on

Tuesday

Isabel Hardman

The tricks being played over a VAT rise

Today’s Treasury Questions was a bit odd, not least because neither George Osborne nor Ed Balls were there, so everyone seemed to be quite keen to get the thing over with. Labour’s latest line of attack is to force Treasury ministers into ruling out or obfuscating over whether or not a Tory government would put up VAT after the General Election. Here is the first exchange, between Shabana Mahmood and David Gauke: Shabana Mahmood: ‘The Minister has failed to rule out another tax cut for the richest 1% of earners in our country. As he signalled in his answer, the Prime Minister has made £7 billion-worth of unfunded tax promises

Monday

James Forsyth

We have a choice between competence and chaos, according to the Tories

Competence versus chaos—that’s what the Tory leadership want to frame the next election as a choice between. Hence George Osborne’s repetition of this phrase five times in one brief interview with the BBC’s Nick Robinson. The Tories want to make the voters think that they offer competence and everyone else chaos. As George Osborne puts it, ‘And it’s not just Liberal Democrats, it’s Labour, UKIP, you can put them all into the same mix. What they’re offering is a chaotic alternative of higher taxes, higher borrowing, a return to economic chaos.’ One of the reasons why the Tories are so keen to polarise the contest in this way is, one

Isabel Hardman Isabel Hardman

Will Nick Clegg’s PMQs session highlight the tensions in the Coalition?

After being too busy talking to ‘normal people’ in Cornwall last Wednesday and missing previous PMQs presumably to do the same, Nick Clegg will not only be attending this Wednesday’s session, he’ll be taking it. David Cameron won’t be around because he’s visiting Turkey this week, and so the Deputy Prime Minister will step into his shoes. Today sees another rather tedious round of Coalition infighting in which the two parties remind everyone else that they’re separate. The Tory line seems to be that their partners are ‘all over the place’, with both George Osborne and Cameron using that phrase over the past couple of days. The Lib Dems want

Sunday

James Forsyth

The Tories aren’t planning to run a £23 billion surplus in 2019/20

All the talk about the ‘colossal’ cuts to come if the Tories win re-election has been predicated on the assumption that the Tories are committed to running a £23 billion surplus in 2019/20. But this assumption is wrong. As David Gauke told Andrew Neil just now, ‘At the moment the OBR predicts that we will have a surplus of £23 billion, but we’re not making a commitment to the British people, that’s what the number will be in 2019.’ Instead, I understand — after extensive conversations with members of the Chancellor’s circle — that the Tories intend to start increasing spending in line with inflation once the Budget is back

Isabel Hardman Isabel Hardman

Coalition wars: What are George Osborne and Nick Clegg up to?

If the Coalition started cohabiting earlier this year, it has now moved into the phase where the two parties are posting mean things about each other on Facebook and trying to get the kids to take sides. George Osborne has a grump in today’s Sunday Times about the emphasis that the Lib Dems want to place on tax rises to plug the gap after the 2015 election. He writes: ‘The Liberal Democrats are now arguing with themselves, so it’s hard to work out exactly what they think. While they sign up to deficit reduction, they want more tax rises rather than spending cuts. But they shouldn’t pretend to people that

Friday

Isabel Hardman

Should politicians grumble about awkward stories?

A lot of political types are very cross with the ‘biased media’ today. Ukip is currently the most aerated because some journalists ‘fabricated’ (which is today synonymous with ‘transcribed’) some remarks Nigel Farage made about whether or not restaurants are right to tell women to put napkins over themselves when breastfeeding. Number 10 is very angry with the BBC’s Norman Smith because he talked about the Road to Wigan Pier which is not an OK way of describing the public spending cuts still to come (but the IFS describing them as ‘grotesque’ and ‘colossal’ apparently is). Labour has been annoyed for months that journalists keep pointing out mistakes that Ed Miliband makes. Unusually,

Thursday

The Spectator

When a cricket ball cost Britain an heir to the throne

A fatal shot The sad death of Australian batsman Philip Hughes was a reminder that a cricket ball can kill. A blow on the cricket field may even have cost us an heir to the throne. — One of the earliest suspected victims was Frederick, Prince of Wales, the son of George II, who is first recorded as having played cricket in 1733 when he put up a team against Sir William Gage, in a match played on Mouley Hurst, Surrey. — In 1751, a few weeks after his 44th birthday, he was said to be suffering from an abscess in the chest caused by a blow by a cricket

Sebastian Payne

Revealed: where George Osborne’s axe will fall hardest

If you think George Osborne has been a mad axe man, just wait to see the cuts he has planned for the next Parliament. To return a budget surplus by the end of the decade, government spending will have to be slashed — but which departments will bear the brunt of his axe? The answer (shown in the above chart) is buried in the OBR’s report on the Autumn Statement. Assuming ring fences on health, education and overseas aid spending, ‘other’ departmental government spending stands to be slashed by 42 per cent, or £61.3 billion over the next five years. The Home Office, Ministry of Defence and Business Department would all be vulnerable. As well as these cuts to the other

James Forsyth James Forsyth

The three Tory vulnerabilities Osborne is hoping to shut down

In the last few days, George Osborne has moved to close down three Tory vulnerabilities ahead of the election campaign. First, there was the decision to put another £2 billion into the NHS. Osborne has always believed that support for the NHS is the most important feature of Tory modernisation and this extra money has rather undercut Labour’s commitment to spend another £2.5 billion on the health service. The Tory hope is that this extra money, and the party essentially signing up to Simon Stevens blueprint for the NHS, will prevent health from becoming the major election issue that Labour need it to be. Second, Osborne has tried to neuter

Isabel Hardman Isabel Hardman

The BBC is right to point out failure on debt. Osborne is wrong to complain about it

George Osborne has in the past year assembled a coterie of advisers to help him become more human, more stylish, thinner and more in touch with voters. But this morning it seemed he’d turned to his Cabinet colleague Iain Duncan Smith for media training before popping up on the Radio 4’s Today programme, as the Chancellor quickly became tetchy when asked the ‘wrong’ sort of questions. He gets angry about 7 minutes in… listen to ‘Osborne: ‘I’m the first to say there is more to do’ ’ on audioBoom

Melissa Kite

How HS2 has blighted my parents’ lives

Waiting to appear before a Commons select committee, my father turned to me. ‘This was not on my bucket list,’ he said. My father should be enjoying his retirement. Instead, he and my mother are still working full time in their seventies because they cannot sell their home due to the blight of HS2. And here they were now, about to present themselves to Parliament to petition the High Speed Rail Bill. Theirs is one of more than 1,900 petitions brought by people whose lives have been so adversely affected by the planned rail link that they will need to be heard in person by MPs before the Bill can

Martin Vander Weyer Martin Vander Weyer

Cheap oil has finally arrived – and it looks like being a disaster

This oil price slump is turning into a ‘black swan’: one of those economic events that seem to come from nowhere with strange and unforeseen effects. As Brent Crude dips below $70 a barrel and Opec sits on its hands, major banks face losses on financings for US energy companies that must have looked like the safest borrowers in the field in an earlier phase of the shale gas boom. As the rouble plunges and the Russian economy implodes, anyone holding debt paper issued by a Siberian oil giant or a contract to build an oligarch’s superyacht may end up lighting the fire with it. The only thing that has

Wednesday

Sebastian Payne

Podcast special: a good Autumn Statement for George Osborne?

George Osborne appears to have delivered a successful Autumn Statement, but are there some dark secrets in the details? In this week’s View from 22 podcast, Fraser Nelson, James Forsyth and I discuss the Chancellor’s last major economic speech of this Parliament, the political consequences of the new measures announced and what it means for the next election. You can subscribe to the View from 22 through iTunes and have it delivered to your computer every week, or you can use the player below: listen to ‘Fraser Nelson and James Forsyth discuss the Autumn Statement ’ on audioBoom

Lloyd Evans Lloyd Evans

George Osborne’s fact-finders come up trumps in the Autumn Statement

Osborne got his chance to audition for Number 10 today. He hasn’t the fluency and the synthetic chumminess of Cameron. And his emotional range is far narrower than the PM’s. He’s like Nigel Lawson, cool, uneasy, watchful. His brain-power is more than his head can bear and there’s a detached, arrhythmic otherness about him. He’s uncongenial, in the way a good Dr Who should be, but he can’t ad lib at the despatch box. If he’s interrupted he glances upwards, (with worried eyes and Nixon conk), and stares out, bewildered and a little frightened. With a script, and plenty of rehearsal, he has authority even though his basic mode is,

Isabel Hardman Isabel Hardman

Osborne’s Statement is likely to get stamp of approval

George Osborne has delivered an autumn statement that, provided it doesn’t unravel in the next few hours, should give him very good headlines. He has abolished the old, unfair system for stamp duty and claims that his new system means 98 per cent of people buying new homes will pay less stamp duty as a result. The changes will come into effect at midnight tonight and those who have exchanged contracts but not completed will be able to take advantage of the reforms if they want. This is the measure that MPs will vote on in the mystery three-line whip division tomorrow, giving Labour 24 hours to decide what it

Fraser Nelson Fraser Nelson

George Osborne’s new stamp duty regime explained

If you’re buying a house, or thinking about it, there’s only one fact you need to know about today’s Budget: stamp duty is changing. Gone is the old system of thresholds, and instead it will be a percentage chunk of the value. And no, this ist a disguised tax graph – the Chancellor expects to lose more money out of this reform than any other. So no tax will be paid on the first £125,000 of a property. Then it’s 2% on the portion of the value of the flat up to £250,000, then 5% of the portion up to £925,000, 10% for up to £1.5 million and 12 % on everything beyond

James Forsyth James Forsyth

Another very political mini-Budget from George Osborne

A preview of James Forsyth’s political column in this week’s Spectator, out tomorrow: Autumn Statements lack the drama and traditions of the Budget. Gladstone never delivered one, there is no Autumn Statement box and no possibility of a dram of whisky as the chancellor delivers it. But this year’s Autumn Statement was more important, and more substantial, than next year’s Budget will be: the Liberal Democrats are adamant that March is too close to the general election for the Budget to do anything other than update the fiscal forecasts and set out the duty rates. The test this week isn’t economic but political. As with last year, the Tories have

The Spectator

Lesson of the Autumn Statement? Boldness is best

Here is a preview of the leading article from this week’s Spectator, out tomorrow, on George Osborne’s Autumn Statement:  When George Osborne first became Chancellor, he asked to be judged on his ability to reduce the deficit. He does not make that request any more. This year’s deficit is almost three times higher than the £37 billion he originally planned, but he understandably glossed over this point when delivering his Autumn Statement. He has other interests now: pension reform, building motorways, or spending more on GPs. The mission to balance the books has been delayed until the end of the decade — or, perhaps, the start of the next. He

The Spectator

Full text: George Osborne’s 2014 Autumn Statement

Mr Speaker, Four years ago, in the first Autumn Statement of this Parliament, I presented the accounts of an economy in crisis. Today, in the last Autumn Statement of this Parliament, I present a forecast that shows the UK is the fastest growing of any major advanced economy in the world. listen to ‘Osborne’s Autumn Statement in full’ on audioBoom Back then, Britain was on the brink. Today, against a difficult global backdrop, I can report: higher growth, lower unemployment, falling inflation, and a deficit that is falling too. Today a deficit that is half what we inherited. Mr Speaker, our long term economic plan is working. Now Britain faces a