Fraser Nelson is a Times columnist and a former editor of The Spectator.
18 min listen
Chancellor Jeremy Hunt gave a statement this morning in which he outlined plans to scrap ‘almost all’ the tax measures announced by his predecessor, Kwasi Kwarteng just four weeks ago. In one of the largest U-turns in history, the markets have become the most important force in British politics. James Forsyth, Katy Balls, Kate Andrews
Just two weeks ago, Liz Truss told the Tory conference that her priority was ‘growth, growth and growth’. But how much of that can she expect now that her new Chancellor plans to jack up corporation tax from 19 per cent to 25 per cent as the economic headwinds strengthen? As she never tired of
The markets did not crash, so there was not a Black Friday in the way some had envisaged. But this certainly was Black Friday for the Tories, a new low in the party’s history, a debacle to rival Black Wednesday but with none of the economic dividends. A new Prime Minister sacks a Chancellor for
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Isabel Hardman, James Forsyth and Fraser Nelson discuss the appropriate units of time in which to measure the remainder of the Prime Minister’s tenure…
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Liz Truss has delivered an 8-minute long press conference confirming the latest corporation tax U-turn and insisting she will stay on as Prime Minister. Did it do enough to reassure voters and calm the markets? Cindy Yu speaks to James Forsyth and Fraser Nelson. Produced by Cindy Yu and Natasha Feroze.
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It’s one of those flight tracker days here in Westminster as Chancellor Kwasi Kwarteng is about to land from a trip to the IMF in Washington, cut short last night. Is the government about to U-turn on its three-week-old mini budget? If so, will the Chancellor resign? Cindy Yu talks to James Forsyth and Fraser
One of the problems with nationalism – of any stripe – is its uglier undercurrents. The Scottish National Party has made great strides presenting itself as civic and progressive, but it’s usually never too long before blood-and-soil arguments start to come through. So you’ll hear fairly sinister arguments about how the SNP’s opponents are not
Soon after being elected Tory leader, Iain Duncan Smith summed up a test that he was soon to fail. ‘At the moment, I am a clean slate,’ he said. ‘It’s the next four months that count. If the wrong colours are applied to my slate, they will be there for ever. I have to be
During her leadership bid, Suella Braverman positioned herself as a Tory maverick – a firm believer in Brexit, a campaigner for low taxes, and a defender of controlled immigration. Once her campaign ended, she backed Liz Truss because, she said, she wanted to join a team that would change things. When Kwasi Kwarteng announced he
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Liz Truss is coming under pressure over another of her policies. Should she increase benefits payments in line with inflation, or in line with earnings, as she would prefer? Will the PM change her mind again? Katy Balls speaks to Fraser Nelson and James Forsyth. Produced by Max Jeffery.
Another day, another Tory rebellion. Liz Truss needs to think of ways to constrain spending and tough decisions lie ahead. One option is to increase benefits in line with average salaries (6.2 per cent), rather than CPI inflation (9.9 per cent). Her aides are preparing the argument. Why should someone on welfare see their income
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The Prime Minister has abandoned her plan to scrap the top 45 per cent rate of income tax. Why? Katy Balls speaks to Fraser Nelson and James Forsyth. Produced by Max Jeffery.
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Michael Gove this morning said that Liz Truss’s plans to scrap the top 45 per cent tax rate are a ‘display of the wrong values’. It comes as Jake Berry, the Tory party chairman, confirmed that MPs who vote against the budget would lose the Conservative whip. Has Gove just ruined Truss’s conference? James Heale
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Despite rejecting the Office for Budget Responsibility’s offer of a forecast to accompany last week’s so-called fiscal event, this morning it appears that the government have u-turned. What can we expect from the OBR’s statement ahead of the November budget? Also on the podcast, after last night’s YouGov poll put Labour ahead by 33 points,
23 min listen
Liz Truss broke her silence this morning and embarked on a pre-Tory conference media round of regional stations across the UK. In a brutal set of interviews, the Prime Minister faced questions on tax cutting the rich at the expense of the poor, fracking and bankers’ bonuses. With conference just three days away, what will be
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The Bank of England has today announced a major intervention into gilts to prevent a ‘material risk’ to financial stability as a result of government policy. How unprecedented is this move? Will Liz Truss and Kwasi Kwarteng break their silence? Are we heading for another leadership election? Kate Andrews speaks with Fraser Nelson and James
After a weekend where the markets digested the Kwasi Kwarteng plan for growth, the pound hit $1.03 in early trading in Asia – the lowest rate since the dollar was invented in 1792. The fall was shortlived – it later rebounded to $1.07 – but the fact that it touched such a low at all has
I was at an end-of-summer party for the Centre for Social Justice last night, with some politicians and others interested in the welfare-to-work agenda. The reaction to the budget was mixed. The various donors there were stunned to have been given the biggest tax cut of their lives – the biggest since Nigel Lawson cut
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Kwasi Kwarteng has today announced what has been dubbed as his mini-Budget, but looking at the scale of the package it is far from small. The Coffee House Shots team take us through what has been revealed. Who are the winners and who are the losers? Katy Balls speaks to Fraser Nelson, James Forsyth and
George Osborne dreamed about it and Rishi Sunak told friends that he’d like to do it if everything went well and he was feeling brave. But this morning Kwasi Kwarteng has gone ahead and done it. The ‘additional rate of tax’ – set up by Gordon Brown as a trap for the Tories in 2009 –