Kate Andrews is deputy editor of The Spectator’s World edition.
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
How is the UK’s economic bounce back from the pandemic years going? Next week the Office for National Statistics will provide us with a host of new monthly data, including an economic growth and labour market update for the month of February and the headline inflation rate for March. The inflation rate is the real
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The National Insurance hike comes into effect today which is going to hit doubly hard when coupled with the ever-increasing cost of living. While we are all going to feel this burden on our bank accounts, Rishi Sunak is taking his first major political blow. Is there anything he can do to bounce back, or
Most people don’t need reminding about the cost-of-living crunch: food, petrol, bills and transport all provide a daily reminder that prices are going up. But today’s energy price cap rise – lifting by almost £700 – provides a headline example of the increasing costs of essential goods.. Alongside it, the National Insurance hike (a 2.5
Since the spring statement last week, Rishi Sunak has been dealing with complaints from all sides: the right have been arguing he should have been bolder with tax cuts, the left insists more support is needed to help people with the rising costs. With the Office for Budget Responsibility projecting the biggest fall in living
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While on the surface there might seem like a lot to like in Rishi Sunak’s spring statement. Yes, the NI tax increase is still there, but the tax threshold to pay it is being raised. And there is even a promise of an income tax cut coming in 2024. But does the spectre of inflation
Today’s spring statement may not have been a proper Budget – but it could prove to be one of the most significant moments in Rishi Sunak’s time as Chancellor. At a time when families are facing the double-edged sword of soaring bills and wages falling behind inflation, Sunak was under pressure to offer reassurance. But
Here’s the Rishi Sunak paradox: he proudly defines himself as a low-tax Tory but under his watch taxes are reaching a 71-year high. There are plenty of Tories who want to ditch next month’s National Insurance increase but Sunak is firmly opposed – mainly because he wants to link up in people’s minds that more
What support might the Chancellor dish out to help with the cost of living squeeze in the Spring Statement this week? In line with his previous media appearances, Rishi Sunak’s statements ahead of his mini-Budget this morning on the BBC didn’t give much away, as the Chancellor ‘can’t speculate’ on what’s to come in his
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On this week’s episode, we’ll hear from Lionel Shriver on if western populations would fight to defend their homeland in the way we have seen the Ukrainians have. (00:53) Next, Kate Andrews on the real reasons behind the rise in the cost of living. (09:17) And finally, Nicholas Farrell asks if the war in Ukraine
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As Rishi Sunak finalises his Spring Statement, how can he resolve the trilemma of an ageing society, no peace dividend and low growth? Meanwhile, there is a broad Tory desire for increased defence spending amid the Russia Ukraine invasion. But from where will this money be taken? ‘This isn’t an easy time for Rishi. If
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Today P&O ferries announced to 800 staff that they were being made redundant with immediate effect as security mounted to ferries to escort the staff off the premises. The company said the staff will be served with “enhanced” severance packages, calling it a “necessary decision” to protect its remaining 2,200 staff. Was this fair when
The Bank of England has voted to hike interest rates to 0.75 per cent, the third successive rise, which puts rates back to their pre-pandemic levels. Historically, we’re still at ultra low levels, but the rise is anything but insignificant. After the Federal Reserve made its first move to lift interest rates by 0.25 per