Michael Simmons is The Spectator's economics editor. Contact him here.
From our UK edition
12 min listen
Rachel Reeves has today delivered her much anticipated spring statement, her opportunity to address the looming energy crisis, the uncertainty in the Middle East and the crashing Labour market … unfortunately, she did none of the above. The Treasury promised that the spring statement was going to be boring – and at least it delivered
From our UK edition
Rachel Reeves got what she wanted: an uneventful spring statement. It’s not even leading the homepage of the Financial Times. But that doesn’t mean it doesn’t matter. The forecasts the Chancellor read out from the Office for Budget Responsibility (OBR) do not paint a pleasant picture of Britain’s economy. Growth for this year was slashed compared
From our UK edition
Before the first missiles landed in Tehran, Rachel Reeves was looking forward to today. Her spring ‘forecast’ statement was going to be a doddle. The plan – to have the smallest intervention by a Chancellor since Philip Hammond in the spring of 2018 – was a sensible one. Britain’s fragile economy could not have handled
From our UK edition
35 min listen
Britain’s banks have a hold over Rachel Reeves, declares Michael Simmons in the Spectator’s cover piece this week. Almost two decades on from the 2008 financial crash, the UK has failed to reform the system and – as ordinary people face a cost-of-living crisis – Labour is in hock to big business. Is the Chancellor too
From our UK edition
16 min listen
Polls are open in Gorton and Denton for the by-election but as we eagerly await the result we thought we’d discuss economics, because looking ahead to next week we’ve got the spring statement. It’s not a major fiscal event – as Rachel Reeves will be anxious to point out – but one which is taking
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The Epstein files lift the curtain on how power is exercised and influence traded by our financial elite. It is not a cheering sight. Business and economic gurus like the former US Treasury Secretary Larry Summers asking for dating advice from a convicted paedophile does not build confidence in the masters of the universe. Distasteful
From our UK edition
6 min listen
Why are one in five school children classified as special educational needs and disabilities (SEND) in 2026? The rates of children being diagnosed with neurodiverse conditions have scaled to disproportionate rates and the costs are a major concern for the government. Michael Simmons takes a look at the data and explores why devolution has provided
Peter Mandelson, our short-lived ambassador to the US, has been arrested on suspicion of misconduct in public office. In a statement to journalists, the Met Police said: Officers have arrested a 72-year-old man on suspicion of misconduct in public office. He was arrested at an address in Camden on Monday, 23 February and has been
From our UK edition
21 min listen
There is an area of public spending nearly double what Britain spends on defence, more than policing borders or our streets. It’s servicing the costs of what Britain has borrowed in the past. The growing debt bomb is continuing to climb with real consequences for the taxpayer. Michael Simmons takes a look at the data
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
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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
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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
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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
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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.
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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
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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
