George osborne

If you walk around our great northern cities, you’ll see stunning examples of civic pride. Albert Square in Manchester and Leeds Town Hall reflect resurgent local confidence. Old narratives of northern decline are out of date. When Guardian writer Andy Beckett launched a hatchet job on the north-east a few weeks ago, claiming that the region was the ‘next Detroit’, the response was visceral and immediate. Beckett managed to write an entire article about the north-east without mentioning Nissan – the most productive car plant in Europe. The North is home to new tech hubs, advanced manufacturing, superb universities and world-leading culture, from sport to music to art. The north-east

George Osborne’s commitment to a third high speed rail link in the future has gone down well this morning with a nice spread of business groups, northern MPs and Conservatives worried about the Tory appeal (or lack thereof) in the North. It has even gone down well with Nick Clegg, who has released a statement welcoming the Chancellor’s commitment, while of course arguing that the Lib Dems got there first. Clegg’s spokesman said: ‘Nick Clegg and the Liberal Democrats have led the charge in government to rebalance our economy so that it benefits 100,000 square miles of the country, rather than just one square mile in the City of London.

George Osborne is drawing up plans for a northern ‘supercity’, in the hope that it might rival London and rebalance Britain’s economy. Neil O’Brien discussed the idea of a supercity in The Spectator in December 2012, before going off to advise Osborne. My career in politics nearly ended the day it began, when I was almost run over by a gang of Nazis in a Mini-Metro. Not a very butch car to be hit by, I know, and a rather pathetic substitute for a Panzer tank. But it was the early 1990s, and supporters of fascist government in Britain had seen their resources dwindle a bit over the decades. I

Danny Alexander doesn’t suntan well, but he looks more freckly than normal when we meet in HM Treasury.  He’s just back from the seaside town of Nairn in the Highlands, where, as the most senior Scot in the Cabinet, he’s been sent to fight in the front line of the Battle for Britain. People were queuing to sign up to the Better Together campaign, he says, and he has high hopes of defeating Alex Salmond on 18 September. It all added up to something rather rare for a Liberal Democrat: the feeling of being on the winning side in an election. As Chief Secretary to the Treasury, he has been

No one quite expected it, and even now ministers struggle to explain it. But the British jobs miracle has become the single biggest fact of economic life – proving that sometimes, things go badly right as well as badly wrong. Cameron has now overseen more job creation than his last six predecessors did at this stage (above). The excellent Michael Saunders from CitiGroup has produced an excellent report about it (pdf) and some of his charts are below. 1Jobs growth is beating every single forecast (see chart of total jobs, above), even the optimistic forecasts that George Osborne was publishing when he was talking about abolishing the deficit in five

The Chancellor’s economic brain, Rupert Harrison, looked distinctly restless last night, sipping champagne in John Maynard Keynes’s drawing room. Osborne’s chief-of-staff, the architect the evil Tory austerity, did not seem entirely comfortable as he stood beneath an imposing mounted copy of The General Theory. This awkward tableau came about thanks to the launch of a book about the Bretton Woods summit by Sky News’s Economics Editor Ed Conway. The party was gathered in the very house from which Keynes departed on his way to the famous conference in July 1944. Conway said: ‘It’s quite rare to have a book launch these days. You either do it if you’re expecting a global best seller,

Modern Conservatives seem to be allergic to success. Every time things are going right, the party spasms. Sir John Major’s government nurtured a remarkable economic recovery, yet was beaten after its infighting appalled voters. In opposition, David Cameron acquired a habit of blowing opinion poll leads — a habit he did not, alas, shake off in time for the general election. And now, just as a Conservative victory at the next election looks likely, war has broken out again. What should have been a day of success for Michael Gove has ended in his being forced to apologise for briefing against officials in Theresa May’s department. And the Home Secretary,

Fresh from celebrating the Tories’ victory in Newark, George Osborne is continuing a very joyful day by celebrating the International Monetary Fund admitting that it got it wrong on austerity. Christine Lagarde today conceded that ‘we underestimated the growth of the UK economy in our growth forecast a year ago’. The report the IMF published today contains its usual mix of things that all parties can celebrate: plenty of compliments for the Government such as ‘the economy has rebounded strongly and growth is becoming more balanced’, along with criticisms that Labour finds useful for its press releases. Osborne has very little to worry about immediately from the main criticism, which

Improving the supply of new housing, adjusting the Help to Buy scheme if necessary, revaluing council tax bands and accepting that universal credit won’t solve all of Britain’ welfare ills: all ideas batted around in domestic political debate in this country by politicians and commentators who manage to secure a reasonable hearing each time they suggest them. But the problem with this latest list is that it comes from the European Commission: poorly supported by last week’s European elections and not preaching from a position of runaway economic success. The EC has published recommendations for each EU member state which are ‘designed to strengthen their growth potential, increase competitiveness and

George Osborne’s interview today with the Sun on Sunday does show the Conservatives are starting to see a little bit of sense about their net migration target. They’re starting to realise that they aren’t going to meet it when they can only control non-EU migration. It’s surprising, really, that it’s taken them so long to realise that the target was going to be a bit tricky to meet. In this week’s magazine, Douglas Murray argues that Cameron will need to listen – really listen – to voters’ concerns about immigration if he is to have a hope of winning next year: ‘Because the deep, underlying story of last week is

Chris Leslie’s speech today is intended to show that Labour is very fiscally responsible. It’s a noble task, and one the party knows it needs to hammer away at as much as it does on the cost-of-living, otherwise voters may not see that Labour is the trustworthy solution to the problem the party is highlighting. That said, the meat of this speech is very technical, and given it was delivered to the Institute of Chartered Accountants, perhaps not quite aimed at swing voters. Leslie is shouldering a big burden here, because the main thrust of his speech is that his party could not get elected in 2015 and promise unicorns

My trips to meet Russians in Russia these days are a little less controversial than my encounter with them in Corfu. The Corfu trip, though, did have the bonus of throwing me together with George Osborne, whom I had not known previously. Returning from St Petersburg I awoke on Saturday to his interview on the Today programme. If the Tories win the next election (unlikely in light of last week’s performance) it will be down to his political skill and determination. And his being joined at the hip to Cameron. If Blair and Brown had managed the same double act, Labour would still be in power today. The St Petersburg

The British jobs miracle continues – and in ways that continue to surprise. Your CoffeeHouse baristas have been crunching the numbers. They’re startling in a number of ways. For example:- 1. David Cameron’s record at job creation is better than any of his last four predecessors – including Tony Blair in a boom. See chart above. 2. Jobs are being created so quickly that even the March Budget prediction is out of date. The above graph shows a dotted line, indicating the OBR projections. The thick red one, above, shows that we’re already ahead. 3. British citizens are being hired Not always the same as British-born, you understand, but those holding a British

The Bank of England’s inflation report will be published later this morning, which will reveal how strong the bank believes the recovery to be. All eyes will be on its estimate of the remaining ‘slack’ in the economy, which will govern policy on interest rates. The bank’s Monetary Policy Committee has already said that the bank may have to raise rates earlier than expected if strong growth is creating inflationary pressure. City analysts appear to be working on the basis that rates will increase in the first quarter of next year; but there are rumours that the decision might have to be brought forward to the last quarter of this