Kate Andrews is economics editor of The Spectator
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
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Donald Trump has been sworn in as the 47th President of the United States. All the former leaders of the free world were there to watch Trump take the oath – again – but how was this inauguration different to the last? And what signs were there of how Trump intends to govern? Guest hosting
‘The golden age begins right now’ said the 47th President of the United States as he began his inauguration speech in the Capitol Rotunda. What followed was a 30-minute speech, during which Donald Trump stayed both on script and on message, reiterating his promise to declare a border crisis, deport foreign criminals, return America’s title
It’s fitting that Donald Trump’s inauguration day coincides with the first day of the World Economic Forum’s infamous Davos conference. The new and the old world orders are, in theory, competing for attention. But this is not a competition. It’s not even close. This year’s conference theme is ‘Collaboration for the Intelligent Age’: an idea
Millions of Americans will have tried to follow their routine this morning: turn off the alarm, grab the phone, start to scroll. For TikTok users, there will have been a moment of false hope: the shortest clip of a video starts to play, before the notification pops up that everyone was expecting , but no
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It’s been a tricky week for Rachel Reeves: an onslaught of criticism for the levels of borrowing costs, GDP at 0.1 per cent, and stagflation still gripping the UK economy. Remarkably she has come out of it looking stronger – politically at least. But can she afford to celebrate? The Spectator’s Kate Andrews and data
International investors may be jittery about the UK’s future, but the International Monetary Fund appears to be more optimistic. The IMF has published its World Economic Outlook report for January, which forecasts the UK will have the third-fastest growth in the G7 this year. It revises upwards its projection for 2025, by 0.1 per cent,
The UK economy has grown for the first time in three months. The Office for National Statistics (ONS) reports that the economy expanded by 0.1 per cent in November after it contracted by 0.1 per cent in both September and October. This uptick is largely thanks to an increase in services output, which grew by
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With rumours swirling around Westminster and after Keir Starmer’s less than convincing defence of his Chancellor earlier in the week, Rachel Reeves has found some brief respite. The Office for National Statistics (ONS) confirmed that inflation dipped to 2.5 per cent in the 12 months to December, down from 2.6 per cent the month before.
Rachel Reeves has found brief respite this morning, with the Office for National Statistics confirming that inflation dipped to 2.5 per cent in the 12 months to December, down from 2.6 per cent the month before. This is a smaller rise than had been expected (the consensus was 2.6 per cent) and roughly in line
Rachel Reeves did her best to keep today’s China visit statement on topic. The Chancellor wanted to talk about ‘cooperation’, ‘competing where our interests differ,’ her efforts to break down market barriers and the £600 million she secured in investment. But other MPs had other ideas. ‘I know the Chancellor has been away,’ said the
Donald Trump has made a long list of promises for what will be done on ‘day one’ of his second term in the White House. Peace in the Middle East was not one of them. Yet it looks increasingly likely that the President-elect will be sworn in having just helped to secure a ceasefire between
Rachel Reeves returns from China this morning to face growing accusations that she has lost her grip on the public finances. This latest bond market crisis has brought into question whether the Chancellor is at risk of – or has already – broken her own fiscal rules. Capital Economics reports that a surge in gilt
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Long term borrowing costs for the government have reached levels not seen since 1998, and 10 year UK gilts are now at their highest point since the 2008 financial crash. Both surpass the levels seen during the Liz Truss premiership – and this hasn’t gone unnoticed by the former PM. A set of similar circumstances,
What is a legacy? Is it the sum of our actions? Is it the family and friends we leave behind? Is it banning cigarettes? The consensus for exiting western leaders seems to be that last option. Just days before Joe Biden is to leave the White House, and hand the power back to Donald Trump,
