Economics newsletter
Britain is addicted to spending beyond its means
Imagine what the government could do with an extra £9.1 billion a month. It could build HS2 in its entirety within the space of a year. Or better still, it could double the defence budget and still have some money left over to build the 40 new hospitals which the Conservatives promised – as well
Britain should side with Trump over Europe
It may well be the biggest and most significant choice the Starmer administration will have to take. If Donald Trump decides to impose huge tariffs on China, potentially sparking a global trade war, the UK will have to decide whether it backs America, or tries to steer a softer path with the European Union. All
How many farmers will be hit by Labour’s inheritance tax raid?
Tens of thousands of farmers will descend on Westminster in their tractors tomorrow to protest at inheritance tax changes that could see them pay death duties when they hand down their farms. The government doesn’t understand the fuss. It says they are just targeting wealthy land buyers trying to dodge tax. Meanwhile the farmers argue
Andrew Bailey will regret reopening the Brexit debate
Business taxes are soaring. Employment rights have been massively extended, the trade unions are getting more powers, companies are too dependent on low-skilled immigrants, and the planning system still makes it impossible to build anything. There are plenty of challenges facing the British economy that the Governor of the Bank of England Andrew Bailey could
Labour’s first growth figures are seriously disappointing
Forecasts are one thing, results are another. It’s a tough morning for the government, as the Office for National Statistics publishes the first quarterly growth figures since Labour entered Downing Street. The figures are disappointing: the UK economy only managed to grow by 0.1 per cent between July and September, lower than had been expected
Will Rachel Reeves’ pension shake-up really boost growth?
As Chancellor Rachel Reeves prepares to deliver her first Mansion House speech in the City of London tonight, one word is set to be emphasised: growth. ‘Last month’s Budget fixed the foundations to restore economic stability and put our public services on a firmer footing,’ she will tell her audience of bankers and City workers.
The world isn’t listening to Keir Starmer’s climate preaching
Keir Starmer said he was travelling to Cop 29 in Baku intending to “lead the world on climate change”. But it must surely be obvious that he is, instead, barking at a world that is heading in the opposite direction. Last year’s grand talk about “phasing down” fossil fuels at Cop 28 notwithstanding, today’s Global
If anyone can fix America’s bloated state, it’s Elon Musk
Perhaps he will walk through the lobby of the Pentagon with a kitchen sink. Or fire the entire IT department at the Fed, shift the IRS to Mars, while replacing traffic police with fully autonomous Tesla robo-cops. No one has any real idea yet what Elon Musk, the entrepreneur behind Tesla and SpaceX, might come
There are now seven million migrant workers in the UK
For the first time ever there are seven million migrant workers in Britain’s job market. Figures released by the ONS this morning show that more than one in five jobs in Britain is now filled by someone born overseas – despite a fall in EU workers since Brexit. Overall, that’s an increase of 183,000 – equivalent
The truth about Britain’s transition to ‘clean energy’
The timing couldn’t have been worse. Under leaden November skies, came news of what many have suspected: energy rationing for British households could be officially on the cards. The NESO-Miliband plan for a low-carbon future is going to involve a lot more than just waiting a while for a cup of tea The bearer of