Kate Andrews is economics editor of The Spectator
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‘What does a party get after nearly two decades in office, collapsing public services, an internal civil war and a £2 million police investigation? Re-election again – perhaps with an even bigger majority’, writes James Heale in The Spectator this week. He’s talking about the SNP, whose change in fortunes has less to do with their leader
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Foreign affairs are inescapable this week, with the readout from the meeting yesterday between Russian and American diplomats in Saudi Arabia. We understand that Trump told Putin that Ukraine will be part of the next round of peace talks. However, Trump’s shock-and-awe foreign policy continues to deliver significantly more shock than awe, especially after he
Prices are rising. Inflation rose to 3 per cent in the twelve months leading up to January, up from 2.5 per cent in December. It’s a bigger jump than expected, with markets and the Bank of England expecting a rise to 2.8 per cent, driven largely by higher transport costs, as well as higher costs
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On this special episode of Coffee House Shots, economics editor Kate Andrews is joined by shadow home secretary Chris Philp to discuss the Tories’ newly announced plan to tackle immigration. On legal migration, their proposal includes plans to end worklessness in order to stop the reliance on low-paid migrant workers. And on illegal migration, the line is ‘zero
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It’s a double celebration for Rachel Reeves today. Not only is it her birthday, but the UK economy grew by 0.1 per cent in the last three months of 2024, according to the Office for National Statistics’ latest report. December, when the economy expanded by 0.4 per cent (the market consensus had been 0.1 per
The UK economy grew by 0.1 per cent in the last three months of 2024, according to the Office for National Statistics’s latest report. December, when the economy expanded by 0.4 per cent (the market consensus had been 0.1 per cent), was the saving grace. This helped tip the final quarter of 2024 onto the
Has Rachel Reeves broken her fiscal rules? It’s been speculated for some time now that the Chancellor lost her headroom when borrowing costs surged last month. Capital Economics forecast at the start of the year that Reeves’s limited headroom (about £10 billion) had been wiped out by rising gilt yields. This left the Chancellor in
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The Bank of England has cut interest rates for the third time since the inflation crisis, taking the base rate to 4.5 per cent. The Monetary Policy Committee voted by seven to two to further reduce rates by 0.25 percentage points – a move that was widely expected by markets, but had been put into
The Bank of England has cut interest rates for the third time since the inflation crisis, taking the base rate to 4.5 per cent. The Monetary Policy Committee voted by seven to two to further reduce rates by 0.25 percentage points – a move that was widely expected by markets, but had been put into doubt
What are the real intentions of Donald Trump’s trade war? Does he really believe tariffs work to boost economic growth domestically? Does he see them as tools to prop up American businesses, as his Vice President does? Or, as in his first term, are threats of import levies almost purely about leverage – and if
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The Spectator’s economics editor Kate Andrews and Social Democratic Party leader William Clouston join Freddy Gray to try and make sense of Donald Trump’s decision to impose tariffs on Canada, Mexico and China. He has since threatened the European Union, and has warned the UK. Is this a negotiation tactic or something more? What political
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Trump’s tariff spree continues… After making good on his election promise to opt for another round of tariffs – a 25 per cent tax on imports from Canada and Mexico and a 10 per cent levy on Chinese goods – Trump has now turned his attention to Europe. In an interview with the BBC, the president
North America is now engaged in a full-blown trade war. Markets are reacting. Japan’s Nikkei was the first to indicate the downturn, falling 2.9 per cent this morning, while early trading on the FTSE is down 1.1 per cent. It’s not the cataclysmic shock some were expecting, though also not the ‘FANTASTIC’ response the President
He did it, Joe! Following on from the $79 billion worth of tariffs he implemented in his first term – which went largely untouched by Joe Biden’s Administration – last night Donald Trump made good on his election promise to opt for another round of tariffs: this time, a 25 per cent tax on imports
No one can really act surprised if Donald Trump pushes ahead with substantial tariffs on Canada and Mexico tomorrow. ‘Tariff’ is the President’s favourite word, as he said many times on the campaign trail in the lead up to last November’s US election. The only words that could compete for the top slot were ‘love’ and
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Today was the day for Rachel Reeves, as she delivered her big growth speech in Oxfordshire. This was not this government’s first attempt to pivot towards a more business-friendly, growth-generating narrative, but it was its best effort. The headline announcement is, of course, a third runway at Heathrow, throwing her support behind the ‘badly needed’
Has Rachel Reeves got her growth? Today’s speech from the Chancellor in Oxfordshire was not this government’s first attempt to pivot towards a more business-friendly, growth-generating narrative. But it was its best effort yet. Starting with the highlights. Reeves threw her unabashed support behind a third runway at Heathrow, insisting that the expansion was ‘badly
On the face of it, the Chancellor’s big growth speech tomorrow could be one of this government’s most significant interventions yet. If Rachel Reeves is serious about starting the building process for a third runway at Heathrow – she is expected to endorse the idea formally tomorrow – she will be single-handedly overturning more than
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Starmer and Trump have finally spoken, with a 45 minute phone call taking place between the two leaders. The pair reportedly discussed the ceasefire in Gaza, and trade and the economy, with Starmer attempting to find common ground by talking up his plans for deregulation. Cindy Yu speaks to Katy Balls and Kate Andrews about
We’ve heard more from the 47th President of the United States this week than we heard from his predecessor over many months. But Donald Trump has always loved the spotlight: especially when he gets to rile up all his favourite people. This was on full display this week when, rather than winding down from his
