From our UK edition
The unemployment rate has risen to 5.2 per cent, the highest non-Covid level since 2015. Unemployment is now up by a quarter since Labour took office. Youth unemployment is also at its highest level (16.1 per cent) since 2015 and has likewise grown since Labour were elected. Over the past year the rise in unemployment
From our UK edition
In her Budget speech today, Chancellor Rachel Reeves will have four goals. Two political – keeping her own job and keeping Keir Starmer in his as PM – and two economic – avoiding a financial crisis and getting the economy going. Her chances look poor on all of them. In the latest polling by Lord
From our UK edition
Keir Starmer’s ‘reset’ talks between the UK and EU are continuing. Having agreed in principle to renewing the post-Brexit diplomatic and economic relationship in May, there is now negotiation over the details. Naturally enough, some of these negotiations concern money – and specifically how much the UK will pay to Brussels. Many EU programmes require
From our UK edition
Do you want to live in a world in which you are forbidden from giving things, such as your time, your money or your labour, to other people? It has become increasingly common in recent years for those on the left of British politics to argue that it is illegitimate for people to receive a
From our UK edition
After Donald Trump’s Liberation Day, the US now imposes far and away the highest tariffs of any developed country in the world. In the process of doing so Trump has completely rejected the cornerstone of the World Trade Organisation: the ‘most favoured nation’ principle whereby tariffs have to be the same on all countries you
From our UK edition
With the Huw Edwards court case complete – and the disgraced BBC News presenter given a six-month prison sentence, suspended for two years, after he admitted charges of making indecent images of children – attention has returned to the fact that he could still receive a £300,000-a-year BBC pension. Many are horrified by this. There
From our UK edition
Almost everyone is aware of the concept of peak hours pricing. If you buy a train ticket to travel during rush hour it costs more than at other times. Few people object to this. Indeed, most of us think it helps. It means that people who don’t need to travel in that period will pick
From our UK edition
There is talk, yet again, of the UK and EU agreeing some kind of youth mobility scheme, increasing the opportunities for under-30s from the EU to work in the UK. This has been proposed repeatedly over the past couple of years, especially because of similar schemes being agreed between the UK and Canada and Australia.
From our UK edition
In the aftermath of misinformation spread via tech platforms during the recent riots, there is talk of the government requiring tech platforms to remove ‘fake news’ – as well as introducing a duty to remove ‘legal but harmful’ content as part of a review of the Online Safety Act. ‘Fake news’ could presumably take a number
From our UK edition
One perfectly valid reason for voting is to reward past success and punish past failures. We have no guarantees about what politicians will do in future, whatever they promise. We know what they did in the past. For millions of right-wingers, this punish-reward perspective is central to their decision about how to vote in 2024.
From our UK edition
Last week, the Chancellor Jeremy Hunt argued that the Tories shouldn’t pitch to the right in response to Nigel Farage and Reform, because ‘elections are always won from the centre ground.’ It is one of the most widely-repeated ideas in political analysis that elections are won from the centre. It isn’t really true, but it isn’t
From our UK edition
As the Bank of England’s Monetary Policy Committee (MPC) announces its interest rate decision today it has the chance to reverse the damage caused by its interest rate hikes. Rates have been fixed at 5.25 per cent since last August and the Bank has stubbornly refused to cut them. We’re all paying the price. Those
From our UK edition
The week’s Autumn Statement was quite pessimistic about the growth outlook of Britain. The accompanying OBR analysis forecast growth will be below 1.5 per cent on average over the next five years, and even by the end of the period the growth in potential output is only up to 1.75 per cent. And on this
From our UK edition
The new Prime Minister has said this week that NHS funding will be ‘prioritised’ when it comes to spending decisions, while NHS bosses seek up to £7 billion in extra funding. That is wrong. In 2000, government health expenditure in the UK was equivalent to about 14 per cent of total public spending. By 2009, as the Labour government
From our UK edition
Rishi Sunak has passed the 100 publicly-declared supporters which, it if is converted to nominations when Sunak officially declares, will meet the threshold required to make Monday’s MPs vote. Boris Johnson (like Sunak, not yet officially declared a candidate), is somewhat behind at around 70. Penny Mordaunt, who officially declared on Friday, is further back,
From our UK edition
Markets are nervous and they are right to be. The government has announced a huge, open-ended package of energy subsidies expected to cost over £100 billion but that could cost over £200 billion if energy prices rise and stay high. At the same time, the Bank of England is making large losses on its QE
From our UK edition
New Chancellor Kwasi Kwarteng’s first ‘fiscal event’ was always going to be quite provocative and exciting. But in the end it went quite a lot further than expected. Far from pulling back when faced with the practicalities of being in office, Truss’s new administration did everything it had signalled, controversial or not, then threw in
From our UK edition
Liz Truss’s statement that she would never authorise another lockdown and The Spectator’s interview with Rishi Sunak have triggered a new debate about whether the lockdowns of 2020 and 2021 were justified. The most widely discussed positions are that lockdown occurred too late or that there should never have been any lockdowns at all, alongside
From our UK edition
What policies should the government adopt in response to the energy crisis? When thinking about any policy, the correct place to start is to consider what kinds of solutions the market would produce absent any government intervention. Markets will always produce some kind of answer, and the market answer will often be very good in
From our UK edition
Household energy bills are rising very rapidly, and are now expected to be over £4,000 per year by October and possibly over £5,000 per year by early 2023. Many commentators, including most notably Gordon Brown, are saying that we should now nationalise the energy companies and bring bills down. Would that help? It’s rather unclear
