Kate Andrews is economics editor of The Spectator
Britain’s ‘party elite’ – perhaps better-termed ‘Covid elite’ – were hiding in plain sight throughout the pandemic. Even before the parties, trysts and suitcases of wine were exposed, we knew politicians and government officials were leading radically different lives to everyone else during last year’s extended lockdown. Trips abroad for ministers when it was illegal
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With the cost of living crisis looming large, pressure is on the government to come up with effective solutions. With Labour snapping at their heels for an emergency budget and a windfall tax on oil and gas companies, will the Conservatives eventually bend to this pressure? And if they do, will these solutions even work?
Some £500 billion was printed by the Bank of England during the pandemic – a staggering sum that caused very little public debate. Those sceptical about so-called ‘quantitative easing’ argue that it causes inflation – and with today’s news that inflation rose 9 per cent on the year in April, is anyone linking the two?
For the first time ever, the number of UK job vacancies – now almost 1.3 million – has overtaken the unemployment count. Normally, this would lead to people in work feeling much better off, and lead to pay hikes and bonuses as employers compete to recruit and retain employees. But in fact, regular pay in
This afternoon the Bank of England’s governor Andrew Bailey appeared, as he has done many times before, in front of the Treasury Select Committee to answer questions about its recent decision-making. Yet the tone of the Committee was radically different to other sessions. Its chair Mel Stride opened by asking Bailey if he and the
In principle, the UK’s energy price cap is supposed to provide a buffer for consumers who might otherwise see their energy bills go through the roof. But governments can’t control international energy prices: a lesson that has been learned the hard way over the past six months, as dozens of energy companies have gone bust,
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Jacob Rees-Mogg has said that the government plans to axe 91,000 posts within three years from the civil service. The argument for it is that the reduced tax burden will help the public deal with the ever-growing cost of living crisis. But will this have the desired effect and will it be anywhere near enough?
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Though inflation has recently gone down a little in the States, it is still at a 40-year high. Inflation is an issue affecting most of the world due to several external factors, but many critics of Biden say that his policies are worsening this crisis rather than fixing it. Is that the case? Freddy Gray
Fears that Britain could soon be in recession are growing, as the economy appears to have even less power behind it than previously thought. Today’s update from the Office for National Statistics shows Britain’s economy grew by 0.8 per cent in the first quarter of the year (consensus was 1 per cent) – and actually fell
Has inflation peaked in the United States? Today’s update from the Bureau of Labor Statistics shows the annual rate of inflation has fallen slightly, from 8.5 per cent in March down to 8.3 per cent in April. There are signs of slowdown in the monthly figures, too: prices rose 0.3 per cent between March and
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The Monetary Policy Committee has just raised interest rates again. This is the fourth consecutive rise, the first time this has happened within a quarter of a century. Economically the future is looking pretty bleak and not just in the UK, this looks like it may be a global problem caused by several factors. China’s
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In this week’s episode: Is Boris Johnson planning to tear up Britain’s deal with the EU? James Forsyth says in his Spectator cover story this week that Boris Johnson plans to reignite the Brexit voter base by taking on the EU again over Northern Ireland. He joins the podcast along with Denis Staunton, the London
The US Federal Reserve yesterday announced its biggest interest rate rise in 22 years. Today, the Bank of England follows suit, raising rates at the fastest pace for a quarter of a century. But the biggest question remains: how successful will these hikes be at tackling inflation? The Bank’s Monetary Policy Committee has voted six
The Federal Reserve is playing catch-up. Today’s interest rate hike is only the second rate rise since 2018 – but it’s the first half-point rise in 22 years. As expected, the federal-funds rate – the interest rate banks use to lend to each other on a short-term basis – will rise from a target range
Is there anything more extraordinary than dining in New York City? Whether you’re sitting down for the Michelin star experience of a lifetime at Le Bernardin or squeezing in at the counter of Vanessa’s Dumpling House on the Lower East Side ($1 a pop), the New York restaurant combines atmosphere with quality food in a
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On this week’s episode, we’ll hear from James Bartholomew on how taking in a Ukrainian refugee has improved his social clout. (00:50) After, Freddy Gray on the Republican fight against Disney. (06:27) And, to finish, Kate Andrews on overcoming her arachnophobia. (13:46) Entries for this year’s Innovator Awards, sponsored by Investec, are now open. To
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Labour has admitted that deputy leader Angela Rayner, was also at an event where Keir Starmer was pictured drinking a beer. Could the pair be fined? Cindy Yu speaks to James Forsyth and Kate Andrews
Rishi Sunak has had a few quiet weeks after an explosive one, in which the Chancellor had to deal with an avalanche of questions concerning his wife’s tax status and a partygate fine. But Sunak was back this week talking policy. And his most recent contribution is unexpected to say the least. In an interview
I’ve been an arachnophobe my whole life. I can’t remember a time when videos of spiders, or even photos or drawings, didn’t give me palpitations. As a kid Charlotte’s Web read as sinister propaganda. Even as an adult, just hearing the word ‘tarantula’ would make me feel like one was crawling on me (kind friends
This morning’s retail sales update isn’t pretty. Sales volumes fell by 1.4 per cent last month, following a 0.5 per cent drop in February (revised, and worse, than the original estimate of 0.3 per cent). The biggest fall came in non-store retail shopping: almost an 8 per cent month-on-month fall. However, the Office for National
