Michael Simmons is The Spectator's economics editor. Contact him here.
From our UK edition
‘UK in the drain’, a trader exclaimed earlier today as 30-year gilt yields punched through to their highest level since 1998. London stocks were down and the pound fell too. The message to trading desks was clear: dump Britain. Things have worsened, at least in part, because yesterday’s Downing Street and Treasury reshuffle included no
From our UK edition
17 min listen
The summer transfer window comes to a close today but, as Parliament also returns from summer recess today, the only team Keir Starmer is focused on is his own in Number Ten. The Prime Minister has decided to reshuffle his advisers, including bringing in Darren Jones MP to Number Ten from the Treasury. Political editor
From our UK edition
17 min listen
Human rights barrister Dr Anna Loutfi and deputy political editor James Heale join Michael Simmons to unpack the latest court ruling over the migrants housed at the Bell Hotel. The government has won an appeal today – but how much of a victory is it really? Anna explains how the legal questions considered by this
From our UK edition
45 min listen
First: an economic reckoning is looming ‘Britain’s numbers… don’t add up’, says economics editor Michael Simmons. We are ‘an ageing population with too few taxpayers’. ‘If the picture looks bad now,’ he warns, ‘the next few years will be disastrous.’ Governments have consistently spent more than they raised; Britain’s debt costs ‘are the worst in
From our UK edition
‘The problems of financing our deficits have seriously hampered progress in achieving our goals,’ wrote Labour’s chancellor Denis Healey in 1976 in his letter to the International Monetary Fund (IMF). Half a century on, little has changed. Britain’s numbers still don’t add up. Our demographics are the problem: we’re an ageing population with too few
From our UK edition
12 min listen
As James Heale writes online for the Spectator today, ‘two issues continue to plague the government’: how best to attack Nigel Farage. and how to frame an incrementalist approach to policy ‘when the national mood favours radical change’. Nick Thomas-Symonds, the Cabinet Office minister responsible for UK-EU relations, attempted to tackle both today as he
From our UK edition
15 min listen
Since the government’s decision to proscribe the group Palestine Action, arrests have mounted across the country, raising questions not only about the group’s tactics but also about the government’s handling of free speech and protest rights. On today’s special edition of Coffee House Shots, Michael Simmons is joined by The Spectator’s James Heale and journalist
From our UK edition
37 min listen
On this week’s Spectator Out Loud: Svitlana Morenets says that Trump has given Zelensky cause for hope; Michael Simmons looks at how the American healthcare system is keeping the NHS afloat; Ursula Buchan explains how the Spectator shaped John Buchan; Igor Toronyi-Lalic argues that art is no place for moralising, as he reviews Rosanna McLaughlin;
From our UK edition
Britain is slowly drowning in debt. Figures just released by the Office for National Statistics (ONS) show that in the financial year to July the state had to borrow £60 billion to tread water. That’s £6.7 billion more than by July last year and the third highest borrowing total for this period of the year
From our UK edition
‘A friend of mine who’s slightly overweight, to put it mildly, went to a drug store in London,’ Donald Trump said aboard Air Force One. Earlier he had told reporters: ‘He was able to get one of the fat shots. “I just paid $88 and in New York I paid $1,300. What the hell is
From our UK edition
Inflation is up again. CPI climbed to 3.8 per cent last month – up from 3.6 per cent in July, now well above the 2 per cent target that the Bank of England no longer seems all that bothered about missing. It throws fresh doubt on the wisdom of the Bank’s decision to cut rates
From our UK edition
Yesterday’s stronger-than-expected GDP growth raises questions for the Bank of England. Second quarter growth came in at 0.3 per cent (0.2 per cent per Brit) propped up by a strong 0.7 per cent in June alone. The rest of the national accounts however, paint a worrying picture when it comes to inflation. The GDP deflator
From our UK edition
Britain’s is growing, albeit sluggishly. Figures just released by the Office for National Statistics (ONS) show the economy grew by just 0.3 per cent in the second quarter of the year – a sharp slowdown from the first three months, when growth was 0.7 per cent. ‘The economy was weak across April and May,’ the
From our UK edition
Nicola Sturgeon gets an easy ride with the English media. This weekend, with a book to flog and an image to launder, we’ve had to endure another round of interviews with the former first minister. And what have we learnt? Her sexuality is ‘non-binary’; she has ‘famed emotional intelligence’; she handled Covid better than Boris;
From our UK edition
15 min listen
Some excitement on Threadneedle Street today after the Bank of England cut interest rates to 4 per cent. The Bank’s Monetary Policy Committee (MPC) has just voted five to four – after a revote – for what is the third cut this year. This takes interest rates back down to levels not seen since the
From our UK edition
The Bank of England has cut interest rates to 4 per cent. Threadneedle Street’s Monetary Policy Committee (MPC) has just voted five to four, after a revote, for what is the third cut this year. This takes interest rates back down to levels not seen since the beginning of 2023. Concerns about an increasingly slack
From our UK edition
10 min listen
The Spectator and Douglas Murray have comprehensively won a defamation case brought by Mohammed Hegab. Hegab, a YouTuber who posts under the name Mohammed Hijab, claimed that an article about the Leicester riots, written by Douglas Murray and published by The Spectatorin September 2022, caused serious harm to his reputation and led to a loss of earnings.
From our UK edition
The Chancellor’s black hole is getting bigger and tax rises are coming. That’s the judgement of the National Institute of Economic and Social Research (NIESR) whose model of the UK economy has forecast she must find £50 billion of revenue or cuts if she’s to return to the £9.9 billion of fiscal headroom she left
From our UK edition
27 min listen
Is the Online Safety Act protecting children – or threatening free speech? Michael Simmons hosts John Power, who writes the Spectator’s cover piece this week on how the Act has inadvertently created online censorship. Implemented and defended by the current Labour government, it is actually the result of legislation passed by the Conservatives in 2023
From our UK edition
12 min listen
John O’Neill and Sam McPhail, the Spectator’s research and data team, join economics editor Michael Simmons to re-introduce listeners to the Spectator’s data hub. They take us through the process between the data hub and how their work feeds into the weekly magazine. From crime to migration, which statistics are the most controversial? Why can’t
