Michael Simmons is The Spectator's economics editor. Contact him here.
From our UK edition
Britain is set for another dodgy data scandal. In last Friday’s Reality Check newsletter I picked up on reporting from the Times which called into question the income data used to calculate Britain’s child poverty metrics. Now, the BBC reports that those figures are going to be revised. The result: half a million children who the
From our UK edition
Will any political party ever take on the triple lock? The answer from Reform’s Robert Jenrick yesterday appeared to be no. At a press conference where Jenrick, Reform’s Treasury spokesman, appeared to junk nearly everything Reform had previously said on economic and fiscal policy. He chucked overboard what was in many ways a left-leaning approach to both
From our UK edition
It is Robert Jenrick’s big day out today. The newly-minted Reform ‘shadow chancellor’ made his first speech this morning, where he had the chance to show what kind of chancellor he would be and – sporting a snazzy pair of specs – he had plenty of soothing words to calm the jitters of the bond
From our UK edition
Britain seems to be turning a corner. Figures just released by the Office for National Statistics show the rate of inflation fell to 3 per cent in January, having risen to 3.4 per cent at the end of last year. This downward trend is in line with forecasts from the Bank of England which expect
From our UK edition
With Sir Keir Starmer’s premiership in perpetual peril, it seems instructive to pay closer attention to his potential successors. On that, there have been two noteworthy interventions this week. The first from Ed Miliband who told the Today programme: ‘I tell you what angers Keir most about this country, it’s class. It’s the class divide.’ Not to
From our UK edition
Wes Streeting was bang on when he told Peter Mandelson the government had ‘no growth strategy at all’. The Health Secretary’s claim seems to have been confirmed by figures, just released by the Office for National Statistics (ONS), which show Britain’s economy grew by just 0.1 per cent in the last three months of 2025.
From our UK edition
10 min listen
This week Keir Starmer faced the greatest challenge to his premiership yet. What will this Prime Minister will be remembered for? Policies which hurt young people. From student loan debt crisis, tax thresholds, ISA allowances and the pensions triple lock, what hope is there for young Brits? Michael Simmons has the data.
From our UK edition
By the end of last week, it was clear the Prime Minister is a goner – the debate moved to the pace of his demise. That sped up yesterday with the resignation of Morgan McSweeney, his chief of staff. Starmer’s prospects looked very bleak indeed when I turned on the Today programme this morning to
From our UK edition
10 min listen
The sun is setting on Keir Starmer’s worst week in No. 10 – but potentially Kemi’s best. We go into the weekend with MPs publicly calling for his most senior aide, Morgan McSweeney, to step down because of his role in the botched vetting of Peter Mandelson, and with huge questions remaining about how much
From our UK edition
25 min listen
Michael Simmons speaks to American economist Peter Schiff about the surge in gold prices, the weakness of the US dollar and why he believes the next major economic crisis is approaching. Schiff argues that recent dips in precious metals are a buying opportunity, warns that years of low interest rates and money printing have created
From our UK edition
The Bank of England’s Monetary Policy Committee (MPC) has just voted to hold interest rates at 3.75 per cent. While market expectations and pundit’s predictions overwhelmingly foresaw a hold, the vote came in slightly tighter than expected at five against four. The decision came alongside new forecasts from the Bank that predict inflation falling back
From our UK edition
8 min listen
Housing minister Steve Reed has been boasting about Britain’s housing market since Labour came into office – but is he right to celebrate? The country’s housing crisis seems to be delivering the worst of both worlds. Young people trying to get on the property ladder are being priced out by stubbornly high costs, while older
From our UK edition
I want to congratulate the Department for Work and Pensions. They’ve made the excellent decision to – once again – refuse compensation to the Waspi women. The cohort of 3.6 million women born in the 1950s claim to have not been informed that their state pension age would rise – bringing it into line with
From our UK edition
30 min listen
When Andy Burnham put forward his bid to stand in the Gorton & Denton by-election, the bond markets wobbled. What does this say about the state of Labour and their reputation with the markets? Michael Simmons speaks to former Treasury and Downing Street advisor James Nation about Labour leaders and fiscal policy, why Rishi Sunak
From our UK edition
9 min listen
The SNP announced their budget last week promising to cut taxes for low income earners. Could this be the smallest tax cut in history? Michael Simmons has the data.
From our UK edition
Last week the Bank of England was warned to prepare for a financial crisis triggered by the discovery of extraterrestrial life. But the really worrying scenario isn’t aliens. It’s us. A century ago the state pension as we know it was introduced. Taxes from employers and their staff were used to pay out benefits to
From our UK edition
Inflation has crept back up. Figures released by the Office for National Statistics (ONS) show that the Consumer Prices Index (CPI) rose by 3.4 per cent in December. That’s up slightly from the 3.2 per cent rise in prices recorded in November – though it is roughly in line with what markets had expected. The main
From our UK edition
Rachel Reeve’s jobs collapse is trundling on. Figures just released by the Office for National Statistics (ONS) show that 155,000 payroll jobs were wiped out in the year up to November. Some 33,000 were lost in a single month. In total, over 200,000 jobs have disappeared since the Chancellor’s first Budget when she announced a
From our UK edition
Donald Trump has announced that he will impose tariffs on goods from the UK, Denmark and other European countries. The 10 per cent levies on exports to the US will apply to ‘all or any goods’ and come into force from the beginning of next month. The move is in response to Europe’s opposition to
From our UK edition
Britain’s economy is standing still. Figures just released by the Office for National Statistics show GDP grew by just 0.1 per cent in the three months to November. The numbers were dragged down by the construction sector, which saw a contraction of 1.1 per cent – its largest fall in nearly three years. GDP grew
