Kate Andrews is economics editor of The Spectator
The Bank of England has just announced a rate cut of 0.25 percentage points, reducing the base rate from 5.25 per cent to 5 per cent. The tight decision – voted 5-4 by the Monetary Policy Committee – is the first reduction in rates since March 2020. It starts what is likely to be a
Rishi Sunak and Jeremy Hunt entered Downing Street with one mission: to clean up the public finances after Liz Truss’s mini-Budget debacle. They posed as the fiscally credible option. All bills would need to be covered, even if the tax burden had to rise. If the Tories were to lose power for being disciplined and
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Rachel Reeves wakes to mixed headlines today after she announced a range of spending cuts to part fill a £22 billion ‘shortfall’ in public spending for this year alone. The most controversial move by Reeves on Monday was her decision to axe the winter fuel benefit for pensioners not eligible for benefits. That saves £1.5
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The Chancellor Rachel Reeves has today been providing covering fire for a raft of unpopular policies, including changes to the winter fuel allowance and cancellations to various building projects. She gave a damning statement in the Commons earlier this afternoon about the economic situation that Labour have inherited from the Tories. We now know that
Rachel Reeves has just announced a series of spending cuts in the House of Commons. These were ‘incredibly tough choices’, she said, to account for the £20 billion surprise ‘black hole’ left behind by the Tory government. Her announcement means £5.5 billion of immediate, in-year cuts. These include some projects that were tipped to be
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The Chancellor Rachel Reeves is expected to give a statement to Parliament on Monday outlining the state of public finances, including a ‘£20 billion black hole’. James Heale talks to Katy Balls and Kate Andrews about the strategy behind this: will this speech lay the ground work for the Autumn budget? How new are these
Labour’s pro-growth reforms were fun while they lasted. Now here come the tax rises. That’s not quite how Rachel Reeves will convey the findings of the Treasury audit she plans to announce on Monday – but hikes are probably going to be the next step in filling in what the Chancellor will claim is a £20
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This week: Kamala takes charge. Our cover piece discusses the rise of Kamala Harris, who has only one man standing in her way to the most powerful position in the world. Her’s is certainly an unexpected ascent, given Harris’ generally poor public-speaking performances and mixed bag of radical left and right-wing politics. Does she really
I’m struck just in your presence,’ a news anchor gushed to Kamala Harris in January. The Vice President beamed, nodding for her interviewer to continue. ‘You hear candidates suggesting that a vote for President Biden, because of his age, is a vote for you.’ The reporter paused: ‘And that is hurled as an insult.’ Harris
Kamala Harris just delivered her first public remarks since the Democratic ticket fell apart over the weekend. But this was not the moment to address the mess, or indeed her own candidacy for president – two subjects she avoided. Filling in for Joe Biden at a ceremony honouring the National Collegiate Athletic Association championship teams,
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What happens after Joe Biden? The President has announced that he won’t run for re-election. Biden has endorsed Kamala Harris, his Vice President, to be the new Democratic nominee. Can she convince Democratic voters, and the rest of the US? The Spectator’s Freddy Gray and Kate Andrews are joined by Tim Stanley, columnist for the
As the dust around the election settles, a question Tory MPs and supporters still grapple with is why Rishi Sunak called the election when he did – not least because economic indicators point to improvements over the summer and autumn, as inflation returns to target and growth starts to pick up. But Rachel Reeves, the
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This week, Joe Biden has faced further calls to step down from some of the most senior characters in the Democratic party. The President is currently isolating having tested positive for Covid, but remains defiant that he has no intention of giving up yet. Natasha Feroze speaks to Kate Andrews and Freddy Gray about whether
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On this week’s Spectator Out Loud: Kate Andrews argues vice-presidential nominee J.D. Vance is more MAGA than Trump (1:27); Adam Frank explains how super-earths could help us understand what life might look like on another planet (5:15); David Hempleman-Adams recounts his attempt to cross the Atlantic on a hydrogen ballon (14:31); from Ukraine, Svitlana Morenets reports
It shows a remarkable level of confidence from Donald Trump that he’s chosen for his running-mate the man who once called him ‘America’s Hitler’. J.D. Vance, the 39-year-old junior senator from Ohio, made the private comment in 2016, as he rose to fame off the back of his autobiography Hillbilly Elegy. The book recounts what
When Rishi Sunak called a summer election, the Tobacco and Vapes Bill didn’t make the pile of ‘wash up’ legislation to be rushed through Parliament. His plans for a generational smoking ban, and a crackdown on vapes, were paused. But this was never going to be more than a brief delay. Labour has used the
The UK’s inflation rate is comfortably back to target: inflation held at 2 per cent in the 12 months leading up to June, the Office for National Statistics confirmed this morning. This rate is unchanged from last month. Yet this morning’s news is stirring up doubts that the Bank of England will go for its
Another day, another small piece of good economic news. Today the International Monetary Fund has produced its World Outlook report for July, which revises UK growth for 2024 upwards, from 0.5 per cent to 0.7 per cent. This news follows on from last week’s monthly GDP update, which showed growth in May at 0.4 per
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It’s two days after the failed assassination attempt on Donald Trump and we thought we would use this podcast to discuss some of the reaction from Westminster and look at how this latest example of political violence will impact our own politics here in the UK. Oscar Edmondson speaks to Kate Andrews and James Heale,
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Join Fraser Nelson, Katy Balls and Kate Andrews, along with special guest Sir Jacob Rees-Mogg, for a live edition of Coffee House Shots recorded earlier this week. A week on from Sir Jacob losing his seat, he declares ‘I can speak freely now’. So, why does he think the Conservatives lost the election? The team
