Michael Simmons is The Spectator's economics editor. Contact him here.
Threadneedle Street will have all the economic limelight this week as the Bank of England sets interest rates tomorrow. With this morning’s grim inflation update, a rate rise looks all but certain. But this morning, the Office for National Statistics (ONS) released an update on Rishi Sunak’s third pledge: to get debt falling. The figures
Wages are slowly closing the gap with inflation, up 7.2 per cent in the year to April versus inflation of 8.7 per cent. It adds up to a real-terms decrease. It’s the 18th real-terms fall in a row – though the fastest nominal rise on record outside the pandemic. The new minimum wage (up nearly
Is Rishi Sunak stopping the boats? He’d certainly like us to think so. He spent much of yesterday in Dover parading the news revealed on The Spectator data hub last week that small boats crossing the Channel were down a fifth compared with the same time last year. By the end of May, the Ministry of Defence
One of the UK’s biggest economic problems is having so many people out of work – and the slowest return to pre-pandemic workforce levels in Europe. This is costly and slows growth, as taxpayers foot the bill for benefits while employers struggle to fill vacancies. Today’s figures show that it is getting better – but
Alex Salmond was one of the first to fall victim to Twitter’s blue tick cull. An account with the same name as his began sending out disparaging tweets about his sub-optimal bowel movements. The account was tweeting shortly after Elon Musk removed 400,000 ‘legacy verified’ blue ticks, little badges that sit next to a user’s
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The arrest of the SNP’s treasurer Colin Beattie in relation to the probe into the party’s finances has overshadowed Humza Yousaf’s relaunch speech scheduled for today. Beattie has been taken into custody two weeks after Peter Murrell, the SNP’s chief executive, was questioned by police regarding loans made in June 2021. Can Yousaf distance himself
The UK’s labour market is cooling down, slowly. Although unemployment rose from 3.7 per cent to 3.8 per cent, figures published by the Office for National Statistics this morning show that job vacancies have fallen for the ninth consecutive period. They’re now down 47,000 but still stand at over a million. The number of people
10 min listen
Today Keir Starmer has doubled down on Labour Party adverts attacking the Conservative’s record on crime, and which seemingly accuse Rishi Sunak of not caring about child sex abuse. But is everyone in the party willing to play hardball? Or have the adverts highlighted divisions between senior Labour MPs? Also on the podcast, after Peter
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Humza Yousaf has been announced as the new leader of the SNP after a narrow victory over second placed Kate Forbes. What will this mean for the cause of Scottish independence? Katy Balls speaks to Michael Simmons, Stephen Daisley and Fraser Nelson. Produced by Oscar Edmondson.
Humza Yousaf is the new leader of the SNP and in the coming days will be sworn in at the Court of Session in Edinburgh as the county’s sixth first minister. He inherits a bickering party and almost a decade of electoral stalemate over independence. It is far from clear what legacy his predecessor leaves in her
As Nicola Sturgeon prepares to exit stage right, she’s been reeling off her greatest hits. Things she thinks she’s done to leave her mark on Scotland. She was helped this week by a study published in the Lancet. It claimed that her minimum unit pricing policy (where alcohol must be sold for at least 50p per unit)
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This week: In her cover piece for The Spectator, Harriet Sergeant asks what’s happened pupil absence which has increased since the pandemic. She is joined by The Spectator’s data editor Michael Simmons to account for the staggering number of children who were failed by the government’s Covid response (01:08). Also this week: Owen Matthews, The Spectator’s Russia correspondent, looks at
Just how does Rishi Sunak intend to grow the economy? It’s the second of his five pledges; last week’s Budget was full of Tory talk about the virtues of getting people off benefits and into work. But the data shows a rather different picture: five million are on benefits while mass immigration – now running
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The SNP has confirmed that its membership has fallen to 72,000 – a loss of over 30,000 since 2021. This has prompted an open letter from leadership candidates Kate Forbes and Ash Regan, calling for transparency when it comes to membership numbers. Why are so many leaving? Also on the podcast, Humza Yousaf has committed
Jeremy Hunt has just delivered his second Budget as Chancellor. The top message the Chancellor wants to push is that Britain will avoid recession. But the Office for Budget Responsibility’s report suggests immigration may be the real story. Among the policy announcements were an extension to the energy price guarantee, currently at £2,500, to July (effectively
Pandemics kill people in two ways, said Chris Whitty at the start of the Covid outbreak: directly and indirectly, via disruption. He was making the case for caution amidst strong public demand for lockdown, stressing the tradeoffs. While Covid deaths were counted daily, the longer-term effects would take years to come through. The only real
14 min listen
It’s been an interesting week in the race for the leadership of the SNP. Kate Forbes’s campaign has been plunged into fresh doubt by the news that her husband attended a private Tory hustings, whilst Douglas Ross has been forced to apologise after swearing during First Minister’s Questions. We also had the first televised hustings,
Kate Forbes has taken an early lead in the race to replace Nicola Sturgeon. The Finance Secretary, who’s currently on maternity leave, has emerged in first place in a poll of Scottish voters. The poll for the Scotsman asked 1,004 people who they’d like to see leading the SNP and settling into Bute House. Forbes leads among SNP voters
So now we know: Scotland will get its new leader on 27 March. The rules that will determine how Sturgeon’s successor – and Scotland’s sixth First Minister – will be chosen, were thrashed out by the party’s National Executive Committee on Thursday night. Nominations are now open and will close a week today. The ballot
Nicola Sturgeon has announced that she is resigning, after eight years as First Minister. She has been in charge for a long time: a full generation by some definitions. This is certainly time enough to make your mark on a country with devolved powers unparalleled in the democratic world. But as she prepares to leave
