Rishi sunak

How will Rishi Sunak’s Budget land with Tory MPs? As reports circulate in the press that the Chancellor is considering raising corporation tax and capital gains tax as well as bringing in a stealth tax for pensioner savings, nerves are growing among Conservative politicians.  The Northern Research Group of MPs, chaired by Johnson’s old friend Jake Berry, have called on Sunak not to tax his way out of pandemic debt by raising business taxes in the budget. Tory MPs such as David Davis have warned they could refuse to vote for it if the reports are true. So who will Sunak listen to? Meanwhile, former prime minister David Cameron has popped up to

Keir Starmer’s speech on economic recovery, delivered at Labour’s Southside HQ on Thursday, was hyped as one of the most pivotal moments of his leadership so far. A Labour insider told Politico it had been ‘six months in the making with a huge amount of work going into it’. It was designed to establish a clear ‘fork in the road’ between the Conservatives’ and Labour’s economic visions, both in the short term — leading up to the Budget next month — but also in the future, as Starmer pledged to shape the economy ‘to look utterly unlike the past’. But for a speech that was supposedly months in the making,

Oh dear. Rishi Sunak is the subject of criticism from lockdown supporters everywhere this morning over a Telegraph front page detailing the Chancellor’s apparent concerns that scientists are moving the goal posts on when lockdown ought to end. Treasury sources are keen to play down the report – but the aspect that has Mr S’s interest isn’t so much the contents but one MP’s response to the news, Step forward Johnny Mercer. The defence minister was quick to ‘like’ a tweet by commentator Dan Hodges suggesting Sunak ‘needs to get back in his box and stay focussed on the economics’. While everyone is allowed the occasional accidental like on social

The pandemic may still be in full swing but that hasn’t stopped the SNP opting to push the case for an independence referendum sooner rather than later. Nicola Sturgeon claimed over the weekend that should the SNP win a majority (as expected) in the Scottish parliament elections, she will hold an advisory referendum on independence, whether or not Boris Johnson consents to the move.  Not everyone in government is convinced the First Minister would go ahead with this should push come to shove. But the fact it’s even on the table points to the problem Johnson has on Scottish independence – his insistence that now is not the time for a second

Today’s papers are splashed with good news on the pace of the vaccine rollout, with over-70s now being invited for a jab. However, the issue currently causing angst in the Tory party is universal credit. Last week, Labour attacked the government over free school meals, today they will put the government under pressure over the universal credit uplift. At the start of the pandemic in April last year, Rishi Sunak increased the payment by £20 a week.  The issue of whether that increase will continue will be discussed at opposition day debate this evening. Boris Johnson is being urged to extend the benefit increase beyond 31 March when it is currently set to

Rishi Sunak’s latest giveaway totals £4.6 billion in grants for the retail, hospitality and leisure sectors, amounting to up to £9,000 per outlet. Alongside this comes an additional £1.1 billion for local authorities and a £600 million discretionary fund for businesses that might not qualify for the main grant. This money is meant to help businesses with their fixed costs problem: having to pay rent, utilities and upkeep despite bringing in far less income (in some cases, no income at all). The largest cost for most business owners — payroll — was addressed in December when the Chancellor extended the furlough scheme to the end of April.  But this extra support

Last week, Katy Balls and I interviewed Rishi Sunak for the Christmas issue of The Spectator (out today) and his comments on debt have caused some interest in today’s newspapers. As ever with such interviews, there’s only so much you can squeeze into two pages but I thought it worth elaborating on his position today. I suspect it will come to define the political debate next year: yes, 2020 was a year of almighty splurge. Sunak has borrowed more in ten months than Gordon Brown did in ten years: but there was a pandemic. The question is how you get that back to normal. For a surprising number of Tories,

I wonder how much more money we will have to bung the teachers in order to inculcate within them an amenability towards doing a spot of teaching? They still seem terribly averse to the whole idea. During the first lockdown, 60 per cent of young children received no virtual lessons at all from teaching staff, and one in five pupils over 12 was given no work to do, according to the Children’s Commissioner. Virtual lessons shouldn’t have been terribly difficult to arrange, but most of the time there were none. My own daughter had no virtual lessons from March to July (which is why she’s no longer in the state

The proposed reduction in international aid from 0.7 to 0.5 per cent of GDP has elicited a furious reaction from some quarters. It has been condemned by five former prime ministers, three of whom never met the target when they were in office. What is missing from this debate is the historical context. The rise in development spending was part of the peace dividend that followed the end of the cold war. But the just-concluded defence spending settlement marks a UK recognition that this peace dividend is over — great power competition is back and this country’s military spending now needs to increase. Over the next decade or so, military

Rishi Sunak – There is more economic stress to come The Chancellor of the Exchequer will deliver the 2020 spending review this Wednesday, and it will shock no one to hear that the public finances are not in good health. Joining Andrew Marr in the studio, Rishi Sunak said that the economy was not out of the woods yet, and may not be for a long time: https://twitter.com/BBCPolitics/status/1330449174450606080?ref_src=twsrc%5Etfw RS: The economy is experiencing significant stress. We’ve seen that particularly in the labour market… [There is] more stress to come, and that is very sad to see… and it’s something that we’re going to grapple with for a while to come