George osborne

Wednesday

Fraser Nelson

The economy is booming, says the Bank of England. So why won’t it raise rates?

Yet another survey suggests that Britain is booming – this time, it’s from the Bank of England’s Monetary Policy Committee. They’re the guys who kept interest rates too low for too long – creating the last boom. It sees another boom now.”For the first time in a long time you don’t have to be an optimist to see the glass is half full,” said Mark Carney, the new BoE Governor. “The recovery has finally taken hold.” Citi has crunched latest BoE figures (pdf) and says this envisages real GDP growth of a stonking 3.4 per cent next year and 2.8 per cent the year after, which it says is one

Monday

Fraser Nelson

Help to Buy mortgage subsidies show how little politicians learnt from the bubble years

Gordon Brown used to joke that there are only two types of Chancellors: ‘those who fail and those who get out in time.’ Inside this joke lay his strategy: he was stoking a debt-fuelled bubble that was going to burst, but he hoped it would do so after the election or on someone else’s watch. It’s the textbook definition of putting party over country. I’m afraid that we can see its reflection in Help to Buy. David Cameron’s article in the Sun today shows this politicking is back. Look, he said, this policy shows I’m on the side of aspirational voters. If you want to get on in life, the

Wednesday

Sebastian Payne

The View from 22 podcast special: why is it so hard to visit the UK?

In association with Harrods. Does Britain need to do more to encourage tourists and students to visit our country? In this special View from 22 podcast, chairman of Press Holdings Media Group Andrew Neil discusses whether George Osborne’s recent changes to our visa system — including a VIP service and only needing to apply once to visit the whole of the EU — go far enough, the policy on Chinese visas in particular, whether the UK spending enough on its borders and what more could be done to improve our system. Joining the panel are the legendary broadcaster and author Melvyn Bragg, managing director of Harrods Michael Ward and Ben

Tuesday

Fraser Nelson

Sorry, Ed. But it looks like Britain is now booming

Things are lining up nicely for George Osborne’s Autumn Statement next month (and fairly badly for Ed Miliband, who’s making his economic speech today). For the first time since he became Chancellor, he will be able to report forecasts better, not worse, than his previous suggestions. The European Commission has just upped its UK growth forecast for next year to 2.2 per cent, up from 1.7 per cent – the largest upgrade of any European country. The Eurocrats are, of course, just catching up with the changing independent consensus. The graph pictured above (from the Treasury) shows how the consensus for 2014 growth has been revised upwards month after month.

Steerpike Steerpike

Murdoch son-in-law ‘clarifies’ that the PM did come to his party after all

You know how it is. You’ve had a heavy night, everyone has left your party and empty bottles are all that remains. Then those pesky diary journalists start calling. Elizabeth Murdoch’s husband Matthew Freud has ‘clarified’ that Cameron and Osborne were actually at his birthday party on Saturday, as described by Mr Steerpike yesterday. Initially, Mr Freud said that the PM had not attended. I can sympathise; I always forget when the Prime Minister and his Chancellor pop round for a knees-up.

Friday

Fraser Nelson

Northern voters turn against HS2

When George Osborne first announced his plans for high speed rail, I was all for it. I’ve spent too much of my life on broken-down trains between Inverkeithing and London – and, like many Scots, resented the way that most transport money seemed to be spent in the imperial capital. As I say in my Telegraph column today, the key to staying happy about HS2 is not to think about it much further: don’t contemplate the costs, don’t ask if transport can be helped in other ways. This is what Westminster is doing: all its parties have signed up to the project. They won’t have a proper debate about it.

Wednesday

Steerpike

Mr and Mrs Treasury

Congratulations to Mr and Mrs Treasury. HMT has today announced the appointment of Sharon White, the current Director General over at Horseguards, as Second Permanent Secretary. Who she? Well, she’s none other than the wife of Robert Chote, the chief of the Office of Budget Responsibility. The OBR was set up in 2010 by George Osborne to provide independent analysis and advice on Treasury policy. It is meant to be completely independent, so no pillow talk please.

Friday

Stanley Johnson

How a marine reserve could make Pitcairn the crown jewel of the South Pacific

Last week, while the Mayor of London (pop. 7.8 million) was visiting China, the Deputy Mayor of Pitcairn (pop. 50) was visiting London.  I met Simon Young for afternoon tea in a riverside restaurant near the Tower of London.  Both he, and a fellow member of the Pitcairn Council, Mrs Melva Evans, had travelled thousands of miles to Britain with one specific purpose: to persuade the Government to designate a vast area around the Pitcairn Islands as a marine reserve. Most of us, I suppose, know the Pitcairn Islands as the place where the mutineers from the Bounty settled, with their Tahitian companions, in 1790.  The majority of the current

Monday

Ed West

What have Londoners gained from the London housing bubble?

Now that the middle class squeeze has become my sujet du bore at the fancy north London dinner parties I attend, I was interested in Saturday’s New York Times piece about what foreign billionaires are doing to our insane property prices. One statistic really stuck out: ‘An astonishing £83 billion worth of properties were purchased in 2012 with no financing — all cash purchases. That’s $133 billion.’ Crikey. Author Michael Goldfarb argues: ‘And as for services, the minimal tax paid by those who have made property into money means that a city whose population has increased by 14 percent in the last decade can’t afford to build new schools. There

Isabel Hardman Isabel Hardman

The global race means swallowing pride every so often

George Osborne is in Beijing at the moment, drumming up support for Britain in the global race. Although that doesn’t quite work because Britain is obviously racing China in this global race, but all the same, he wants China to run alongside Britain cheering it, rather than sledging as it steams ahead. And to be able to do that, this country apparently needs to swallow some of its pride about the sort of country that China is. Osborne told Radio 4 this morning: ‘Well what we’ve said is the Prime Minister is not planning to meet the Dalai Lama but of course he did meet the Dalai Lama as previous

Wednesday

Isabel Hardman

Tory cost of living drive begins in earnest

At their autumn conference, the Tories managed to get the last word in on the cost of living debate by explaining that you can’t just talk about living standards while not having a proper plan for the economy. This was all very well and good and the party leadership was confident that this was an easy sell to voters who already trust them more on the economy and continue to blame Labour. But many were worried that without the sort of retail offer that Labour had made at its conference, the Tories still wouldn’t cut through. George Osborne’s fuel duty freeze announcement in his speech was the start of what

Tuesday

Isabel Hardman

Tory ‘stick with us’ message boosted by IMF

Poor old Ed Balls. He’s been making predictions of doom that now appear to have gone too far and too fast. The latest blow to the Shadow Chancellor is that the IMF, which he went through a period of definitely liking a lot when its lieutenants started suggesting that austerity was ‘playing with fire’, has upgraded its growth forecasts for the UK by more than any other major economy. This map from the organisation’s latest World Economic Outlook illustrates rather neatly how well the IMF expects the UK to do in comparison to other European economies. Obviously this doesn’t mean that everything is fine and dandy and that everyone in the UK can

Steerpike Steerpike

Austerity, what austerity?

Where better to celebrate the launch of a book about Britain’s age of austerity than in the gritty surroundings of 5 Hertford Street, quipped Standard Editor Sarah Sands last night as she threw a party for the launch of Matthew d’Ancona’s In it Together. Luckily the Chancellor had already worked the room and ducked out early to head to Washington for the IMF meeting before the speeches. No doubt the opposition would love to see the snaps of the Austerity Chancellor mingling in Robin Birley’s latest nightspot…

Sunday

James Forsyth

George Osborne attempts political jiu-jitsu on Ed Miliband

If this conference season is remembered for anything, it will be for Ed Miliband’s pledge to freeze energy prices. This pledge might be economically flawed but it has given the Labour leader a retail offer to voters and rebutted the charge that he doesn’t have any policies. Initially, the Tories were uncertain of how to respond. But, as I write in the Mail on Sunday, the Tory leadership has now decided what it wants to do. In George Osborne’s autumn statement, they want to remove some of the seven green taxes and levies that are driving up energy bills. Not only would this reduce the salience of Miliband’s pledge but

Thursday

Peter Oborne

In it together? Matthew d’Ancona’s book on the coalition is a huge letdown, says Peter Oborne

There are two ways of being a political journalist. One is to stay on the outside and try to avoid being compromised by too much contact with politicians. This approach comes at what many regard as an impossible cost. After all, the job of a journalist is to get stories and gain insight. Story-getting can only come through access, but this too creates a problem. The politicians who supply information, atmosphere, gossip and revelation tend to demand loyalty — and protection — in return. There is no right answer. Matthew d’Ancona has always sought the status of an insider. His Sunday Telegraph column is valuable because it provides an accurate

Monday

James Forsyth

George Osborne is back in the Tory leadership race

If the next Tory leadership election is a marathon, George Osborne fell down at mile six with that 2012 Budget. Most of those watching assumed that was the end of him. But Osborne got up, dusted himself down and started making his way back through the pack. Today’s speech showed that Osborne thinks he’s now back in that race. It was littered with the personal pronoun. It included a tribute to his parents who founded what Osborne called a small manufacturing company’ which the rest of us call Osborne and Little, the up-market wallpaper merchants beloved of the interior designing classes. It also showed off his acid sense of humour,

Fraser Nelson Fraser Nelson

We’ll balance the books!! (By 2020) George Osborne speech analysis

You have to hand it to George Osborne: he’s great at turning massive setbacks to his advantage. He pledged to get rid of the deficit over one parliament, now he’s boldly saying he’ll do it over two. Be had said he’d sort out the economy over five years (after all, Britain won a world war in six) but now – in a well-delivered and well-received speech – he’s solemnly declaring that we’re ‘not nearly finished’ and he should be re-elected to finish the job. So to prove it, he had a new plan for 2018-20: a new deficit pledge. As ever with Osborne, it’s political.  He calculates that Ed Miliband plans

Sebastian Payne

View from 22 podcast special: the return of George Osborne

Fraser Nelson thinks it was the ‘language of someone happy with the economy’. James Forsyth saw it as renewed hope for leading the Conservative party. On this special View from 22 podcast, we analyse George Osborne’s speech to Tory conference this morning; whether the economic measures mentioned were sensible and what it says about the Chancellor himself. You can subscribe to our podcast through iTunes and have it delivered to your computer every week, or you can use the embedded player below: listen to ‘Spectator Podcast: @frasernelson and @jamesforsyth discuss Osborne’s speech’ on Audioboo

Isabel Hardman Isabel Hardman

Breaking: George Osborne wants to freeze fuel duty for the rest of this Parliament

George Osborne is currently giving his speech to the Tory conference, which is being well received – particularly impressive in this flat hall. He focused initially on the argument that fixing the economy is the way to solve the cost of living crisis. But his MPs will also be heartened that he didn’t stop there. The Chancellor has just told the conference hall that, provided the savings can be found, he wants to freeze fuel duty for the rest of this parliament. This announcement came at the end of a passage on the sort of people the Conservatives want to stand beside: the factory and warehouse workers that the Chancellor

The Spectator

George Osborne’s speech to the Conservative conference: full text and audio

listen to ‘George Osborne’s speech to the Conservative conference’ on Audioboo At every Party Conference since the election, as we have gathered, the question for us, the question for me, the question for our country, has been: ‘is your economic plan working?’. They’re not asking that question now. The deficit down by a third. Exports doubled to China. Taxpayers’ money back from the banks, not going in. 1.4 million new jobs created by businesses. 1,000 new jobs announced in this city today. Our plan is working. We held our nerve in the face of huge pressure. Now Britain is turning a corner. That is down to the resolve and to